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Bluesky Digital Assets Corp., Releases its Q1, 2021 Financial Results
Toronto, Ontario, June 11, 2021 – Bluesky Digital Assets Corp., (CSE: BTC), (CSE: BTC.PR.A), (OTCQB: BTCWF), (“Bluesky” or the “Corporation”) released today a summary of its Unaudited Q1, 2021 Interim Financial Statements for the three months ended March 31, 2021. Key highlights include:
- Total Gross Revenues from the Corporation’s Digital Assets Mining operations increased to $743,267 CDN in Q1, 2021 from $101,611 CDN in Q1, 2020 representing a significant increase of 631%.
- Total Gross Revenue from the Corporation’s Digital Assets Mining operations increased to $743,267 CDN in Q1, 2021 from $182,054 CDN in Q4, 2020, representing a quarter over quarter significant increase of 308%.
- Total Gross Revenue from the Corporation’s Digital Assets Mining operations amounted to $665,533 CDN for all of fiscal 2020 representing a monthly average of $55,369 CDN per month in Gross Revenue being generated from the Corporation’s Digital Assets Mining operations. The monthly Gross Revenue generated from the Corporation’s Digital Assets Mining operations average was $247,755 CDN per month for the first three months of 2021, representing a significant monthly average increase of 347% vs. fiscal 2020’s monthly average of $55,369 CDN per month.
- Total available cash increased to $1,785,077 CDN in Q1, 2021 from $636,127 CDN in Q1, 2020 representing an increase of 181%.
- Digital Asset Mining operating costs amounted to $173,903 CDN in Q1, 2021.
- Total losses increased to -$1,263,233 in Q1, 2021, from -$371,735 in Q1, 2020 representing an increase of 240%. It should be noted that regarding the Q1, 2021 quarterly loss, the majority of the total operating expenses for Q1 of 2021 were due to a one-time issuance of Stock Options that were issued to consultants in connection to the completion of the Corporation’s Q4, 2020 and Q1, 2021 equity financings. The valuation of the Stock Options was recorded as $1,709,000 CDN. The Corporation expects that these Stock Options will be exercised resulting in cash proceeds coming into the treasury. Furthermore, Depreciation on equipment amounted to $118,770 CDN for the quarter. It is important to note that with the removal of the Stock Options and the equipment Depreciation the Corporation would have actually realized a profit of $564,537 CDN for the quarter.
- Fully Diluted EPS remained as -$0.04 for Q1, 2021 vs. -$0.02 in Q1, 2020.
- The Corporation exited a legacy business segment in Q1, 2021. The initial investment in this legacy business segment amounted to $50,000 CDN and therefore the Corporation realized a significant gain of $269,149 CDN from the exit. With the proceeds from the legacy business exit and combined with the revenue from the Corporation’s active digital crypto mining operations, the Corporation brought in a combined $1,012,416 CDN in gross proceeds from its business operations for the quarter which represents an all-time high and a corporate record for a quarterly result.
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.
press release archives
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June 11, 2021
Bluesky Digital Assets Corp., Releases its Q1, 2021 Financial Results
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Bluesky Digital Assets Corp., Common Shares will commence trading on the OTCQB in the United States
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Bluesky Digital Assets Corp., Common Shares have been included into the CSE Composite Index
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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 RELEASEMarch 10, 2021
Bluesky Digital Assets Corp., Receives $652,880.00 CDN from Warrant and Stock Option Exercise
READ MARCH 10, 2021 FULL RELEASEMarch 9, 2021
Bluesky Digital Assets Corp., Executes on a Material Mining Hardware Purchase of One Million Dollars USD in ASIC Mining Machines.
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Bluesky Digital Assets Corp., Announces the Commencement of a Non-Brokered Private Placement
READ FEB. 22nd (#2) FULL RELEASEFebruary 22nd, 2021
Bluesky Digital Assets Corp., Deploys $500,000.00 CDN Worth of New Mining Assets into Full Production
READ FEB. 22nd FULL RELEASEFebruary 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 RELEASEJanuary 20th, 2021
Bluesky Digital Assets Corp., Acquires $500,000.00 CDN Worth of New Mining Assets
READ JAN. 20TH FULL RELEASEJanuary 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
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Bluesky Digital Assets Corp., Announces Strategic Partnership with WeDig Techsolutions (P) Ltd.
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October 16th, 2020
Bluesky Digital Assets Corp., Announces Rights Offering
October 5th, 2020
Bluesky Digital Assets Corp., Provides Update, Retires the Majority of its Total Debt Obligations, Provides Defi and Digital Mining Update
2020 Q3 PRESS RELEASES
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September 1st, 2020
Bluesky Digital Assets Corp., Releases Q2, 2020 Financial Results
August 24th, 2020
Bluesky Digital Assets Corp., Announces Membership in the Crypto Valley Association.
August 18th, 2020
Bluesky Digital Assets Corp., Engages Financial Advisory Firm, Completes Acquisition.
August 17th, 2020
Bluesky Digital Assets Corp., Announces Launch of its “DeFi” subsidiary and funding initiative.
August 4th, 2020
Bluesky Digital Assets Corp., Announces “Stablecoin” Research and Development Initiative
2020 Q2 PRESS RELEASES
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June 15, 2020
Bluesky Digital Assets Corp., Announces Partnership with Canadian Digital Asset Custody Company Brane Inc.
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Bluesky Digital Assets Corp., Releases Q1, 2020 Financial Results & Provides Update
May 12, 2020
Bluesky Digital Assets Corp., Announces Fifth Deployment of Advanced ASIC Mining Machines
May 11, 2020
Bluesky Digital Assets Corp., Provides an Update on Share Consolidation
May 04, 2020
Bluesky Digital Assets Corp., Announces Share Consolidation & Engages IR Firm
April 06, 2020
Bluesky Digital Assets Corp., Announces Joint Venture
2020 Q1 PRESS RELEASES
March 02, 2020
Bluesky Digital Assets Corp., Announces Continuing Scale of its Active Mining Assets
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Bluesky Digital Assets Corp., Announces a $1,000,000.00 CDN Convertible Debenture Financing to Further Expand its Digital Mining Operations
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Bluesky Digital Assets Corp. Provides Update on the Continued Expansion of its Digital Mining
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December 02, 2019
Bluesky Digital Assets Corp., Assigned BTCWF As Its OTC Markets Trading Symbol
READ FULL RELEASENovember 25, 2019
Gunpowder Capital Corp., Announces Name Change to Bluesky Digital Assets Corp.
READ FULL RELEASENovember 25, 2019
Gunpowder Capital Corp., Closes Fourth Tranche of its Non-Brokered Private Placement of Units
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Gunpowder Capital Corp., Completes the sale of another London based property. Invests proceeds from the sale into the Corporation’s Digital Assets Division.
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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 RELEASEOctober 21, 2019
Gunpowder Capital Corp., Appoints Ms. Evelin Wong as CFO, Grants Stock Options
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October 02, 2019
Gunpowder Capital Corp., Provides Update on the Expansion of the Corporation’s Fully Owned Digital Assets Subsidiary
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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
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September 04, 2019
Gunpowder Capital Corp., Appoints Ben Gelfand as Chief Executive Officer
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August 29, 2019
Gunpowder Capital Corp., Closes Third Tranche of its Non-Brokered Private Placement of Units, Enters Into Loan Agreement, Settles Debt.
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July 11, 2019
Gunpowder Capital Corp., Expands Cryptocurrency Operations
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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.
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May 27, 2019
Gunpowder Capital Corp., Appoints Anthony R. Pearlman as President and COO of Crypto Mining Subsidiary.
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May 22, 2019
Gunpowder Capital Corp., Forms Cryptocurrency Subsidiary and Commences Cryptocurrency Operations.
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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.
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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).
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March 11, 2019
Gunpowder Capital Corp., Loans $100,000.00 CDN To A Construction Services Company.
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March 04, 2019
Gunpowder Capital Corp., Announces a $1,500,000.00 CDN Non-Brokered Private Placement of Units.
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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.
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February 20, 2019
Gunpowder Capital Corp., Completes the Sale of its Fifth USA Home Rehabilitation Property.
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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.
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