ZDNet Says Bitcoin Miners DigitalBTC Are $6.77M In Debt – Bitcoints


Published on September 1st, 2015 | by bitcoin


ZDNet Says Bitcoin Miners DigitalBTC Are $6.77M In Debt

ZDNet Says Bitcoin Miners DigitalBTC Are $6.77M In DebtAlthough posting a loss, the cryptocurrency miners told shareholders that its FY15 results reflected a “strong performance from the company’s bitcoin operations”, with bitcoin mining generating $6.4 million in revenue.
In May, DigitalBTC raised AU$3.5 million to fund the development and rollout of AirPocket, an app-based peer-to-peer, cross-currency cash remittance platform.
DigitalBTC told shareholders that although the value of the cryptocurrency had dropped, the devaluation had not impacted its performance.
For the half-year, DigitalBTC reported a positive EBITDA of $216,934, and revenue from ordinary activities of $14.5 million.
For the three months ending March 2015, DigitalBTC recorded another loss, with a negative quarterly operating cash flow of $1.2 million.

Source: News.google.com

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