May 2, 2023 [crocon media – dgoldsmith] Vancouver-based Neptune Digital Assets Corp. (TSX-V:NDA) (OTCQB:NPPTF) (FSE:1NW) continues to make waves in the world of cryptocurrency, blockchain, and decentralized finance (DeFi) with its strong financial position and strategic investments. Neptune’s CEO, Cale Moodie, stated that the company has finished the February 28, 2023 quarter with a positive net income, with crypto holdings continuing to grow and costs remaining low.
According to the financial statements and management discussion released by Neptune, the company ended the quarter with $37.7 million in assets and no debt. During the six-month period ending February 28, 2023, Neptune earned a total revenue and other income of $1.9 million through Bitcoin mining, staking, DeFi, and other income-generating activities. Neptune mined $1,106,951 worth of Bitcoin, with a total balance of 244 Bitcoin in cold storage as of the release date. Neptune’s two largest digital asset holdings are 244 BTC and 175,000 ATOM, with other token holdings in ETH, FTM, wMemo, DASH, Lif3, Tomb, GRT, OCEAN, and an investment in SpaceX valued at approximately $2 million USD. The company’s current cash balance is $11.8 million CAD held with a tier 1 Canadian bank and another $4 million USD under Chapter 11 claim with Genesis Lending, with the outcome currently unknown.
Neptune’s recent investments in SpaceX and $OCEAN project demonstrate the company’s commitment to diversifying its portfolio beyond cryptocurrency and blockchain. These strategic moves showcase the company’s forward-thinking approach and focus on expanding into new markets and innovative projects in the crypto industry.
Read the original news release : https://neptunedigitalassets.com/neptune-digital-assets-announces-comprehensive-net-income-of-2-7-million-in-q2/
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