VANCOUVER, British Columbia, May 29, 2023 (GLOBE NEWSWIRE) — BIGG Digital Assets Inc. (“BIGG” or the “Company”)BIGGBBKCF WKN: A2PS9W))), owner of Netcoins (https://www.netcoins.com/ca/ and https://www.netcoins.com/us/) (“Netcoins”), the online cryptocurrency brokerage that makes it easy for North Americans to buy, sell, and understand cryptocurrency, and Blockchain Intelligence Group (blockchaingroup.io) (“BIG”), a leading developer of blockchain technology search, risk-scoring and data analytics solutions, is pleased to report Q1 2023 financial results. All figures are in Canadian Dollars (CAD) unless otherwise stated.
Q1 2023 Highlights:
- Gross operating revenue of $1.5M (up 28% QoQ), with $1.1M for Netcoins (up 55% QoQ) and $0.4M for Blockchain Intelligence Group (down 14% QoQ)
- Net loss of $750,925, as compared to a net loss of $5,534,090 for same period of the prior fiscal year (YoY)
- TerraZero generated $612k in revenue in Q1 2023, representing 130% growth YoY and 628% growth QoQ
- BIGG currently owns 150 Bitcoin, valued at approximately $5.6M
- Netcoins currently has customer Assets Under Custody of ~$61M
- Netcoins registered users now exceeds 203,000
- Blockchain Intelligence Group’s compliance suite (QLUE and BitRank) now supports 16 blockchains, including Bitcoin, Dash, Zcash and TRON, and over 700,000 tokens and NFTs on the Ethereum blockchain.
Selected financial and operating information should be read in conjunction with BIGG’s unaudited condensed consolidated interim financial statements and related Management’s Discussion and Analysis for the three months ended March 31, 2023, available at www.sedar.com.
All financial information in this press release is prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board.
BIGG CEO, Mark Binns, commented:
“Q1 2023 showed a nice rebound in the broad crypto market and crypto trading as well. Netcoins trading volumes and revenue rose nicely…