Despite Losses, DigitalBTC Buys $10.1 Million in Bitcoin – Bitcoints

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Published on July 24th, 2015 | by bitcoin

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Despite Losses, DigitalBTC Buys $10.1 Million in Bitcoin

digitalbtcAustralian cryptocurrency firm DigitalBTC bought $10.1m worth of bitcoin in Q2 of this year, the company’s latest quarterly report reveals.
This brings the amount of bitcoin the company has purchased over the past 12 months to almost $29.7m.

The report also shows DigitalBTC – the first crypto firm to list on Australian Securities Exchange (ASX), under Digital CC Limited – closed the quarter with an inventory of $1m in bitcoin.

Nevertheless, the company reported a negative operating cashflow of $1.2m in Q2 of 2015 having received around $10.8m for operating activities, but spending close to $12m.
Expansion

Initially a bitcoin mining company, DigitalBTC has so far expanded into bitcoin trading as well as developing both retail and consumer applications.

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