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August 30, 2022

Bluesky Digital Assets Corp., Releases its Q2, 2022 Financial Results

FOR IMMEDIATE RELEASE                                                                                                                     

Toronto, Ontario, August 30, 2022 – Bluesky Digital Assets Corp., (CSE: BTC), (OTCQB: BTCWF), (“Bluesky” or the “Corporation”) provided a synopsis of its Unaudited Q2, 2022 Interim Financial Statements for the three and six months ended June 30, 2022 which were filed on August 29, 2022 after market close.  

Key highlights of Q2, 2022 include:  

  • Total Gross Revenue from the Corporation’s Digital Assets Mining operations decreased to $500,685 CAD in Q2, 2022 from $580,583 CAD in Q1, 2022 representing a decrease of 13.7% over Q1, 2022’s total.
  • Total Gross Revenue from the Corporation’s Digital Assets Mining operations decreased to $500,685 CAD in Q2, 2022 from $851,813 CAD in Q2, 2021 representing a decrease of 41% over Q2, 2021’s total.
  • Digital Asset Mining operating costs, electrical, hosting and bandwidth costs, and a one-time charge involving the set-up and delivery of the Corporation’s Antspace and charges for moving of equipment from Canada to Texas amounted to $928,898 Without the Antspace and moving charges, operation costs amounted to approx. $400,000 CAD.
  • As of June 30, 2022, Total Assets on the Corporation’s balance sheet amounted to $8,470,876 CAD vs. $1,596,234 in current liabilities.

To view the Corporation’s Q2, 2022 Interim Financial Statements and the accompanying Management Discussion and Analysis please visits the Corporation’s SEDAR profile page by visiting www.sedar.com.

Q2, 2022 continued to be a very challenging quarter for both the Cryptocurrency and Technology sectors and although the Corporation weathered the downturn, and successfully further advanced its active mining operations, the Corporation wasn’t completely immune to the headwinds presented in Q2 as the Corporation experienced a decrease in its gross mining revenue over Q1, 2022’s and Q2, 2021’s gross mining revenue totals.

Total gross mining revenue slightly declined to $500,685 CAD in Q2, 2022 vs. the $580,583 CAD that was mined in Q1, 2022. $851,813 CAD worth of Cryptocurrencies was mined in Q2 of 2021. The reduction of the Corporation’s gross mining revenue vs. Q1, 2022’s and Q2, 2021’s recorded totals was mainly attributed to the decline in prices of both Bitcoin and Ethereum, as Bitcoin was previously priced at $56,932 CAD per every one BTC on March 31, 2022 and was then priced significantly lower at $25,468 CAD on June 30, 2022.  Ethereum was priced at $4,102 CAD per every one ETH on March 31, 2022 and then was priced significantly lower at $1,374 CAD on June 30, 2022. 

The decline in gross mining revenue was also partially attributed to the Corporation’s decision to move some of its key mining production assets from its Canadian based mining facility to its new mining facility in the State of Texas which caused a decline in production.   The rational for moving some of the Corporation’s key mining production assets from Canada to Texas is the fact that Texas offers lower utility costs over the Corporation’s Canadian based operations, and the Texas based operations can expand its total electrical capacity to 175 MW vs. Canada which is currently capped at 2 MW.   Some of the assets moved to the State of Texas included 200 state-of-the-art Panda GPU Mining rigs. The Corporation acquired these assets in Q3, of 2021 and received the assets in Q4 of 2021 but was hampered by power availability at its Canadian mining facility and the Corporation couldn’t put these assets into operation in Canada hence the Corporation’s expansion into the State of Texas.

Anticipating the drop in valuations of both Bitcoin and Ether, and to minimize losses from the rapid valuation declines, in the month of April, the Corporation elected to sell its Cryptocurrency reserves which had a recorded valuation of $2,678,305 CAD As At March 31, 2022.  With the proceeds raised from the conversion the Corporation’s Cryptocurrency reserves into fiat, the Corporation entered into a Joint Venture agreement where it acquired 50% ownership of a state-of-the-art Bitmain Antspace. The Antspace will house 195 S19 Pro+ Hyd (“S19 Hydro”) ASIC Miners which are liquid cooled.  The Corporation paid $1,484,760 USD for its portion of the equipment.  When activated, the S19 Hydro’s housed in the Antspace will produce a Hashrate of 198 TH/s per unit therefore it is anticipated that the Antbox system will produce 38,610 TH/s / 38.6 PH/s without any optimization(s) which will amount to, based on current market conditions and values, approximately 60 to 64 BTC being mined by the system, per year, of which the Corporation will retain 50% of the mining rewards and the Corporation’s Joint Venture Partner on the Antspace  will retain the other 50%.    The Corporation also further advanced its R&D efforts with a focus on its Blockchain Engagement Platform BlueskyINTEL (BSI) https://www.blueskyintel.com using a portion of the proceeds raised via the conversion the Corporation’s Cryptocurrency reserves into fiat.

                                                                                                                          

 

About Bluesky Digital Assets Corp.

Bluesky Digital Assets Corp, is building a high value digital currency enterprise. Bluesky mines digital currencies, such as Bitcoin and Ether, and is developing value-added technology services for the digital currency market, such as proprietary technology solutions. Offering a complete ecosystem of value-creation, Bluesky is targeting reinvesting appropriate portions of its digital currency mining profits back into its operations. A percentage of the profit will be invested in the development of a proprietary Artificial Intelligence (“AI”) based technology. Overall, Bluesky takes an approach that enables the Corporation to scale, and respond to changing conditions, within the still-emerging Blockchain industry. The Corporation is poised to capture value in successive phases as this industry continues to scale. For more information please visit www.blueskydigitalassets.com

For further information please contact:

Mr. Ben Gelfand
CEO & Director
Bluesky Digital Assets Corp.
T: (416) 363-3833
E: ben.gelfand@blueskydigitalassets.com

Mr. Frank Kordy
Secretary & Director
Bluesky Digital Assets Corp.
T: (647) 466-4037
E: frank.kordy@blueskydigitalassets.com

Forward-Looking Statements

Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward- looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE accepts responsibility for the adequacy or accuracy of this release. We seek safe harbor.

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press release archives (CALENDAR)

2022 Q2 PRESS RELEASES

June 8, 2022

Bluesky Digital Assets Corp., Announces Normal Course Issuer Bid

 

READ JUNE 8, 2022 FULL RELEASE

June 3, 2022

Bluesky Digital Assets Corp., Provides Update on the Status of the Bitmain Antspace Hydro Miner

 

READ JUNE 3, 2022 FULL RELEASE

May 24, 2022

Bluesky Digital Assets Corp., Expands BlueskyINTEL Blockchain Engagement Platform

 

READ MAY 24, 2022 FULL RELEASE

May 3, 2022

Bluesky Digital Assets Corp., Releases Its 2021 Audited Financial Results And Reports Record Revenues

 

READ MAY 3, 2022 FULL RELEASE

April 6, 2022

Bluesky Digital Assets Corp., Enters into a Joint Venture Agreement with Monbanc.  The Joint Venture has selected Bitmain’s S19 Pro Hydro as the miner of choice for its mining operations in Texas

 

READ APRIL 6, 2022 FULL RELEASE
2022 Q1 PRESS RELEASES

March 28, 2022

Bluesky Digital Assets Corp., Enters Into A Strategic Relationship with Monbanc Corporation, Expands Current Mining Capacity, and appoints new Director.   

READ March 28, 2022 FULL RELEASE

February 23, 2022

Bluesky Digital Assets Corp., Announces BlueskyINTEL Expansion Strategy   

READ FEBRUARY 23, 2022 FULL RELEASE

February 14, 2022

Bluesky Digital Assets Corp., Announces Strategic Diversification in Texas     

READ FEBRUARY 14, 2022 FULL RELEASE

January 20, 2022

Bluesky Digital Assets Corp. Closes Oversubscribed Non-Brokered Private Placement, $2,860,750 CAD In Total Gross Proceeds Raised.

READ JANUARY 20, 2022 FULL RELEASE
2021 Q4 PRESS RELEASES

December 13, 2021

Bluesky Provides Bitcoin and Ethereum Mining Update for November

READ DECEMBER 13, 2021 FULL RELEASE

December 10, 2021

Bluesky Digital Assets Corp., Appoints Raymond Chabot Grant Thornton as Auditor

READ DECEMBER 10, 2021 FULL RELEASE

December 1, 2021

Bluesky Confirms Receipt of Additional $1.2 Million Dollars of Strategic Mining Hardware

READ DECEMBER 1, 2021 FULL RELEASE

November 30, 2021

Bluesky Digital Assets Corp., Releases its Q3, 2021 Financial Results

READ NOVEMBER 30, 2021 FULL RELEASE

November 8, 2021

Bluesky Provides Bitcoin and Ethereum Mining Update for October Achieves Record Start to a Quarter.

READ NOVEMBER 8, 2021 FULL RELEASE

November 3, 2021

Bluesky Announces Additional $1.2 Million Dollar Strategic Mining Hardware Acquisition

READ NOVEMBER 3, 2021 FULL RELEASE

October 28, 2021

Bluesky Confirms Receipt of $1.2 Million Dollars of Strategic Mining Hardware

READ OCTOBER 28, 2021 FULL RELEASE

October 25, 2021

Bluesky Announces Strategic Blockchain Initiatives

READ OCTOBER 25, 2021 FULL RELEASE

October 19th, 2021

Bluesky Announces $1.2 Million Dollar Strategic Mining Hardware Acquisition

READ OCTOBER 19TH, 2021 FULL RELEASE

October 12th, 2021

Bluesky Provides Bitcoin and Ethereum Mining Update for September, Record Production Achieved in Q3 2021.

READ OCTOBER 12TH, 2021 FULL RELEASE

October 4th, 2021

Bluesky Digital Announces Closing of $3.25 Million CDN Private Placement with Institutional Investors

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

READ OCTOBER 4TH, 2021 FULL RELEASE

October 1st, 2021

Bluesky Achieves Corporate Record of $1,044,000 CDN Mined In Quarter, Provides Q3 Snapshot

READ OCTOBER 1ST, 2021 FULL RELEASE
2021 Q3 PRESS RELEASES

September 28, 2021

Bluesky Digital Announces $3.25 Million CDN Private Placement with Institutional Investors

READ SEPTEMBER 28TH, 2021 FULL RELEASE

September 7, 2021

Bluesky Digital Assets Corp., Provides Bitcoin and Ethereum Mining Update, $407,175 CDN Mined in August 2021.

READ SEPTEMBER 7TH, 2021 FULL RELEASE

August 31, 2021

Bluesky Digital Assets Corp., Releases its Q2, 2021 Financial Results

READ August 31st, 2021 FULL RELEASE

August 12, 2021

Bluesky Digital Assets Corp., Provides Bitcoin and Ethereum Mining Update, $316,500 CDN Mined in July 2021.

READ August 12 2021 FULL RELEASE

August 9, 2021

Bluesky Digital Assets Corp., Ethereum Mining Update

READ August 9, 2021 FULL RELEASE

July 7, 2021

Bluesky Digital Assets Corp., Appoints Mr. Jakson Inwentash as a Director of the Corporation

READ July 7, 2021 FULL RELEASE
2021 Q2 PRESS RELEASES

June 11, 2021

Bluesky Digital Assets Corp., Releases its Q1, 2021 Financial Results

READ June 11, 2021 FULL RELEASE

May 25th, 2021

Bluesky Digital Assets Corp., Announces Primary Facility Capacity Increase

READ MAY 25Th, 2021 FULL RELEASE

May 6th, 2021

Bluesky Digital Assets Corp., Announces ESG Policy and Commitment to Environmentally Minded Digital Mining

READ MAY 6Th, 2021 FULL RELEASE

May 3rd, 2021

Bluesky Receives MCTO; Delay in Filing Audited Annual Financial Statements

READ MAY 3RD, 2021 FULL RELEASE

May 3rd, 2021

The Management of the Corporation applied for, and were granted a MCTO from the Ontario Securities Commission. The MCTO will remain in place until all filings in regard to the Corporation’s 2020 Audit are completed and filed with the Commission. 

READ MAY 3RD, 2021 MCTO

April 13Th, 2021

Bluesky Digital Assets Corp., Common Shares will commence trading on the OTCQB in the United States 

READ APRIL 13Th, 2021 FULL RELEASE

April 6Th, 2021

Bluesky Digital Assets Corp., Common Shares have been included into the CSE Composite Index 

READ APRIL 6Th, 2021 FULL RELEASE

April 1st, 2021

Bluesky Digital Assets Corp., Releases a Snapshot of its Q1 2021 Performance, Achieves Quarterly Result Record of $1,000,000 CDN in Gross Revenue

READ APRIL 1st, 2021 FULL RELEASE
2021 Q1 PRESS RELEASES

March 16, 2021

Bluesky Digital Assets Corp., Receives a Combined Total of $714,860.00 CDN in Proceeds Via Warrant Exercises

READ MARCH 16, 2021 FULL RELEASE

March 10, 2021

Bluesky Digital Assets Corp., Receives $652,880.00 CDN from Warrant and Stock Option Exercise

READ MARCH 10, 2021 FULL RELEASE

March 9, 2021

Bluesky Digital Assets Corp., Executes on a Material Mining Hardware Purchase of One Million Dollars USD in ASIC Mining Machines.

READ MARCH 9, 2021 FULL RELEASE

February 22nd, 2021 (#2)

Bluesky Digital Assets Corp., Announces the Commencement of a Non-Brokered Private Placement

READ FEB. 22nd (#2) FULL RELEASE

February 22nd, 2021

Bluesky Digital Assets Corp., Deploys $500,000.00 CDN Worth of New Mining Assets into Full Production  

READ FEB. 22nd FULL RELEASE

February 8th, 2021

Bluesky Digital Assets Corp., Executes on a Material Mining Hardware Purchase and Announces a Significant International Supplier Relationship with Pandaminer

READ FEB. 8TH FULL RELEASE

January 20th, 2021

Bluesky Digital Assets Corp., Acquires $500,000.00 CDN Worth of New Mining Assets

READ JAN. 20TH FULL RELEASE

January 18th, 2021

Bluesky Digital Assets Corp., Raises $2,183,000.00 CDN via the Completion of its Oversubscribed Private Placement, Engages North Equities, Grants Stock Options, Announces an Exercise of Stock Options

READ JAN. 18TH FULL RELEASE

January 12th, 2021

Bluesky Digital Assets Corp., Announces Strategic Partnership with WeDig Techsolutions (P) Ltd.

READ JAN. 12TH FULL RELEASE
2020 Q4 PRESS RELEASES

October 16th, 2020

Bluesky Digital Assets Corp., Announces Rights Offering

READ OCT. 16TH FULL RELEASE

October 5th, 2020

Bluesky Digital Assets Corp., Provides Update, Retires the Majority of its Total Debt Obligations, Provides Defi and Digital Mining Update

READ OCT. 5TH FULL RELEASE
2020 Q3 PRESS RELEASES

September 1st, 2020

Bluesky Digital Assets Corp., Releases Q2, 2020 Financial Results

READ SEPT. 1ST FULL RELEASE

August 24th, 2020

Bluesky Digital Assets Corp., Announces Membership in the Crypto Valley Association.

READ AUG 24TH FULL RELEASE

August 18th, 2020

Bluesky Digital Assets Corp., Engages Financial Advisory Firm, Completes Acquisition.

READ AUG 18TH FULL RELEASE

August 17th, 2020

Bluesky Digital Assets Corp., Announces Launch of its “DeFi” subsidiary and funding initiative.

READ AUG 17TH FULL RELEASE

August 4th, 2020

Bluesky Digital Assets Corp., Announces “Stablecoin” Research and Development Initiative

READ AUG 4TH FULL RELEASE
2020 Q2 PRESS RELEASES

June 15, 2020

Bluesky Digital Assets Corp., Announces Partnership with Canadian Digital Asset Custody Company Brane Inc.

READ FULL RELEASE

June 1, 2020

Bluesky Digital Assets Corp., Releases Q1, 2020 Financial Results & Provides Update

READ FULL RELEASE

May 12, 2020

Bluesky Digital Assets Corp., Announces Fifth Deployment of Advanced ASIC Mining Machines

READ FULL RELEASE

May 11, 2020

Bluesky Digital Assets Corp., Provides an Update on Share Consolidation

READ FULL RELEASE

May 04, 2020

Bluesky Digital Assets Corp., Announces Share Consolidation & Engages IR Firm

READ FULL RELEASE

April 06, 2020

Bluesky Digital Assets Corp., Announces Joint Venture

READ FULL RELEASE
2020 Q1 PRESS RELEASES

March 02, 2020

Bluesky Digital Assets Corp., Announces Continuing Scale of its Active Mining Assets

READ FULL RELEASE

February 10, 2020

Bluesky Digital Assets Corp., Announces a $1,000,000.00 CDN Convertible Debenture Financing to Further Expand its Digital Mining Operations

READ FULL RELEASE

January 17, 2020

Bluesky Digital Assets Corp. Provides Update on the Continued Expansion of its Digital Mining

READ FULL RELEASE
2019 Q4 PRESS RELEASES

December 02, 2019

Bluesky Digital Assets Corp., Assigned BTCWF As Its OTC Markets Trading Symbol

READ FULL RELEASE

November 25, 2019

Gunpowder Capital Corp., Announces Name Change to Bluesky Digital Assets Corp.

READ FULL RELEASE

November 25, 2019

Gunpowder Capital Corp., Closes Fourth Tranche of its Non-Brokered Private Placement of Units

READ FULL RELEASE

November 22, 2019

Gunpowder Capital Corp., Announces Debt Settlement

READ FULL RELEASE

November 07, 2019

Gunpowder Capital Corp., Announces Results of its AGM

READ FULL RELEASE

November 06, 2019

Gunpowder Capital Corp., Completes the sale of another London based property. Invests proceeds from the sale into the Corporation’s Digital Assets Division.

READ FULL RELEASE

October 28, 2019

Gunpowder Capital Corp., Completes the sale of two of its London based properties. Invests proceeds from the two sales into the Corporation’s Digital Assets Division.

READ FULL RELEASE

October 21, 2019

Gunpowder Capital Corp., Appoints Ms. Evelin Wong as CFO, Grants Stock Options

> Read Full Release

October 02, 2019

Gunpowder Capital Corp., Provides Update on the Expansion of the Corporation’s Fully Owned Digital Assets Subsidiary

> Read Full Release

2019 Q3 PRESS RELEASES

September 30, 2019

Gunpowder Capital Corp., Announces Resignations of Director and CFO

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September 13, 2019

Gunpowder Capital Corp., Announces Change of Auditor

> Read Full Release

September 04, 2019

Gunpowder Capital Corp., Appoints Ben Gelfand as Chief Executive Officer

> Read Full Release

August 29, 2019

Gunpowder Capital Corp., Closes Third Tranche of its Non-Brokered Private Placement of Units, Enters Into Loan Agreement, Settles Debt.

> Read Full Release

July 11, 2019

Gunpowder Capital Corp., Expands Cryptocurrency Operations

> Read Full Release

2019 Q2 PRESS RELEASES

May 30, 2019

Gunpowder Capital Corp., Completes the Sale of two of its Windsor based properties, Invests all proceeds from the sale into MethodeVerte Inc., the Corporation’s fully owned Cryptocurrency Subsidiary.

> Read Full Release

May 27, 2019

Gunpowder Capital Corp., Appoints Anthony R. Pearlman as President and COO of Crypto Mining Subsidiary.

> Read Full Release

May 22, 2019

Gunpowder Capital Corp., Forms Cryptocurrency Subsidiary and Commences Cryptocurrency Operations.

> Read Full Release

May 13, 2019

Gunpowder Capital Corp., Closes $257,000.00 CDN Second Tranche of its Non-Brokered Private Placement of Units, Increases Size of Offering to $5,000,000.00 CDN.

> Read Full Release

2019 Q1 PRESS RELEASES

March 22, 2019

Gunpowder Capital Corp., Signs an LOI to Commence a Joint Venture Commercial Hemp Production Farm With Grange Conservation LLC.

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March 13, 2019

Gunpowder Capital Corp., Invests $240,000.00 CDN into Franchise Holdings International Inc., (OTCQB: FNHI).

> Read Full Release

March 11, 2019

Gunpowder Capital Corp., Loans $100,000.00 CDN To A Construction Services Company.

> Read Full Release

March 04, 2019

Gunpowder Capital Corp., Announces a $1,500,000.00 CDN Non-Brokered Private Placement of Units.

> Read Full Release

February 28, 2019

Gunpowder Capital Corp., Enters into a strategic relationship with Hemp Inc., (OTC PINK: HEMP) with the purpose of entering into the Industrial Hemp Industry in the United States.

> Read Full Release

February 20, 2019

Gunpowder Capital Corp., Completes the Sale of its Fifth USA Home Rehabilitation Property.

> Read Full Release

February 07, 2019

Eighteen Fifty Equity Inc., Engages Gunpowder Capital Corp.

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February 01, 2019

Gunpowder Capital Corp., Receives $102,750.00 CDN in Compensation, Makes Strategic Investment, Settles Debt.

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January 08, 2019

Gunpowder Capital Corp. Provides Update on Acquisition of Koch & Gsell AG.

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January 03, 2019

Gunpowder Capital Corp., Declares Quarterly Dividend.

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January 02, 2019

Gunpowder Capital Corp., Enters Letter of Intent to Acquire The Manufacture of The World’s First Tobacco-and-Hemp Cigarette, Koch & Gsell AG of Switzerland.

> Read Full Release