27 Feb '15, 2pm

DigitalBTC Reports Net Loss On Falling Bitcoin Price

DigitalBTC Reports Net Loss On Falling Bitcoin Price

Australian bitcoin company Digital CC Ltd has published the results for its half-year period up to 31st December 2014, posting a net loss. The firm, which was the first bitcoin company to be listed on the Australian Securities Exchange (ASX) trading as digitalBTC, reported 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. Tsvetnenko said: “Our half year has seen significant growth in our liquidity desk and digitalX Direct operations, as well as investments made in our early mov...

Full article: http://www.coindesk.com/digitalbtc-reports-net-loss-on-fa...

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