$BTCWF $BTC.CN Bluesky Digital Assets Corp., Relea
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Posted On: 08/31/2021 10:29:53 AM
$BTCWF $BTC.CN Bluesky Digital Assets Corp., Releases Its Q2, 2021 Financial Results
https://www.newsfilecorp.com/release/95024
Toronto, Ontario--(Newsfile Corp. - August 31, 2021) - Bluesky Digital Assets Corp., (CSE: BTC), (CSE: BTC.PR.A), (OTCQB: BTCWF), ("Bluesky" or the "Corporation"
released today a summary of its Unaudited Q2, 2021 Interim Financial Statements for the three and six months ended June 30, 2021. Key highlights include:
- Total Gross Revenues from the Corporation's Digital Assets Mining operations increased to $851,813 CDN in Q2, 2021 from $182,500 CDN in Q1, 2020 representing a significant increase of 366% over Q2, 2020's total.
- Total Gross Revenues from the Corporation's Digital Assets Mining operations increased to $851,813 CDN in Q2, 2021 from $710,312 CDN in Q1, 2020 representing an increase of 20% over Q1, 2021's total.
- Total Gross Revenues from the Corporation's Digital Assets Mining operations increased to $1,562,125 CDN for the six months ended June 30, 2021 from $284,111 CDN for the six months ended June 30, 2020 representing a significant increase of 450% over Q2, 2020's total.
- Total Gross Revenue from the Corporation's Digital Assets Mining operations amounted to $665,533 CDN for all of fiscal 2020 representing a previous 2020 monthly average of $55,369 CDN per month in Gross Revenue being generated from the Corporation's Digital Assets Mining operations. The current monthly Gross Revenue generated from the Corporation's Digital Assets Mining operations average was $260,354 CDN per month for the first six months of 2021, representing a significant monthly average increase of 370%.
- Total available cash increased to $1,734,215 CDN in Q2, 2021 from $455,610 CDN in Q2, 2020 representing an increase of 280%.
- As of June 30, 2021 the Corporation held $309,659 CDN in unsold digital currencies vs. $Nil at the same point in fiscal 2020.
- The Corporation's Digital Mining operations had a profit of $267,881 CDN for the quarter after subtracting $583,932 CDN in Digital Asset Mining operating costs. The Digital Asset Mining operating costs include depreciation on equipment, electrical & bandwidth costs.
To view the Corporation's Q2, 2021 Interim Financial Statements and the accompanying Management Discussion and Analysis please visits the Corporation's SEDAR profile page by visiting www.sedar.com
Ben Gelfand, CEO stated: "In Q2 the Corporation achieved a 20% increase in Gross Revenue over Q1 totals despite the volatility and decrease in the valuation of crypto currencies that occurred in May and in June of this year. With the stabilization and increases in the values of both Ether and Bitcoin and steady deployment of new mining assets Management, reasonably based on the current trend, expects that the Gross Revenues in Q3 will supersede Q2's totals. For the second half of fiscal 2021, the Management team will continue expansion efforts for the Corporation's Digital Assets Mining operations as well as continuing business diversification efforts with our ongoing research and development."
https://www.newsfilecorp.com/release/95024
Toronto, Ontario--(Newsfile Corp. - August 31, 2021) - Bluesky Digital Assets Corp., (CSE: BTC), (CSE: BTC.PR.A), (OTCQB: BTCWF), ("Bluesky" or the "Corporation"
released today a summary of its Unaudited Q2, 2021 Interim Financial Statements for the three and six months ended June 30, 2021. Key highlights include: - Total Gross Revenues from the Corporation's Digital Assets Mining operations increased to $851,813 CDN in Q2, 2021 from $182,500 CDN in Q1, 2020 representing a significant increase of 366% over Q2, 2020's total.
- Total Gross Revenues from the Corporation's Digital Assets Mining operations increased to $851,813 CDN in Q2, 2021 from $710,312 CDN in Q1, 2020 representing an increase of 20% over Q1, 2021's total.
- Total Gross Revenues from the Corporation's Digital Assets Mining operations increased to $1,562,125 CDN for the six months ended June 30, 2021 from $284,111 CDN for the six months ended June 30, 2020 representing a significant increase of 450% over Q2, 2020's total.
- Total Gross Revenue from the Corporation's Digital Assets Mining operations amounted to $665,533 CDN for all of fiscal 2020 representing a previous 2020 monthly average of $55,369 CDN per month in Gross Revenue being generated from the Corporation's Digital Assets Mining operations. The current monthly Gross Revenue generated from the Corporation's Digital Assets Mining operations average was $260,354 CDN per month for the first six months of 2021, representing a significant monthly average increase of 370%.
- Total available cash increased to $1,734,215 CDN in Q2, 2021 from $455,610 CDN in Q2, 2020 representing an increase of 280%.
- As of June 30, 2021 the Corporation held $309,659 CDN in unsold digital currencies vs. $Nil at the same point in fiscal 2020.
- The Corporation's Digital Mining operations had a profit of $267,881 CDN for the quarter after subtracting $583,932 CDN in Digital Asset Mining operating costs. The Digital Asset Mining operating costs include depreciation on equipment, electrical & bandwidth costs.
To view the Corporation's Q2, 2021 Interim Financial Statements and the accompanying Management Discussion and Analysis please visits the Corporation's SEDAR profile page by visiting www.sedar.com
Ben Gelfand, CEO stated: "In Q2 the Corporation achieved a 20% increase in Gross Revenue over Q1 totals despite the volatility and decrease in the valuation of crypto currencies that occurred in May and in June of this year. With the stabilization and increases in the values of both Ether and Bitcoin and steady deployment of new mining assets Management, reasonably based on the current trend, expects that the Gross Revenues in Q3 will supersede Q2's totals. For the second half of fiscal 2021, the Management team will continue expansion efforts for the Corporation's Digital Assets Mining operations as well as continuing business diversification efforts with our ongoing research and development."
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