Australian bitcoin company Digital CC Ltd has published the results for its half-year period up to 31st December 2014, posting a $2.3m net loss after tax.
“The statutory loss recorded for the half has been impacted by necessary accounting adjustments flowing from digital currency price declines,” executive chairman Zhenya Tsvetnenko said.
The firm’s total revenue was $14.5m. Of this, $9.9m came from its liquidity desk and $9.9m from digitalX Direct sales. The revenue from bitcoin mining was $4.6m.
Net income before interest, taxes, depreciation etc (EBITDA) was $216,934.
“Our half year has seen significant growth in our liquidity desk and digitalX Direct operations, as well as investments made in our early mover position in digital currencies.”
The company aired plans to continue focusing on the development of its software applications, such as digitalX Mintsy and digitalX Pocket, which will allow consumers “fast and secure transactions regardless of size and geography”.
The company said at the time it was acquiring new bitcoin mining hardware from manufacturer Spondoolies-Tech that would expand its processing capacity by approximately 40% for a “small outlay” of about $700,000.
- ^ first bitcoin company (www.coindesk.com)
- ^ CloudHashing (www.coindesk.com)
- ^ finalised in March (www.coindesk.com)
- ^ filed an announcement (www.asx.com.au)
- ^ on 25th January (www.coindesk.com)
- ^ Spondoolies-Tech (www.coindesk.com)
- ^ ASX (www.coindesk.com)
- ^ Digital CC (www.coindesk.com)
- ^ DigitalBTC (www.coindesk.com)