Neptune Announces a Record Three Months Comprehensive Net Income of $26.7 Million

Rhea-AI Summary

Neptune Digital Assets reported strong financial results for the quarter ended November 30, 2024. Total assets reached $76.7 million, marking a 51% increase quarter-over-quarter and 96% year-over-year. The company expanded its Bitcoin treasury to 356 BTC (valued at over $53 million) and holds 32,300 Solana tokens.

Total revenues and other income for the quarter were $862,559, generated through Bitcoin mining, staking, DeFi, and other activities. The company recorded a comprehensive net income of $26.7 million, largely driven by revaluation gains on digital currencies of $22.9 million. Neptune maintains a $2 million cash balance and has secured a US$20 million revolving credit line with interest rates between 5.5% and 8.9%.

Positive

• Total assets increased 51% QoQ and 96% YoY to $76.7 million
• Comprehensive net income of $26.7 million
• Bitcoin holdings grew to 356 BTC valued at over $53 million
• Secured US$20 million revolving credit line
• SpaceX investment valued at approximately $8 million

Negative

• Mining revenue decreased from $523,028 to $224,761 YoY
• General expenses increased from $402,165 to $510,695 YoY

Vancouver, British Columbia--(Newsfile Corp. - January 23, 2025) - Neptune Digital Assets Corp. (TSXV: NDA) (OTCQB: NPPTF) (FSE: 1NW) ("Neptune" or the "Company"), a blockchain leader in Canada, is pleased to announce the release of its condensed consolidated interim financial statements and management discussion and analysis for the three months ended November 30, 2024.

This quarter's results showcase Neptune's dynamic growth, innovation, and focus on expanding its footprint in the digital asset economy. Key financial and operational highlights include:

• Neptune ended the quarter on November 30, 2024, with $76.7 million in assets, with growth of over $25.9 million during the quarter. This marks a 51% increase quarter-over-quarter and 96% year-over-year.

• Neptune has grown its Bitcoin treasury to 356 Bitcoin, valued at over $53 million subsequent to quarter-end. The Company continues to expand its holdings through mining operations, converting staking rewards, and direct acquisitions, underscoring Neptune's commitment to long-term BTC focused accumulation.

• Neptune currently holds 32,300 Solana (SOL), leveraging staking strategies to steadily grow its position. Since its acquisition of 26,964 SOL at US$64 per token, Neptune has consistently expanded its holdings, capitalizing on Solana's growth and staking rewards to enhance long-term value.

• Total revenues and other income for the quarter reached $862,559, generated through multiple streams including Bitcoin mining, staking, DeFi, and other activities.

• Neptune's top three holdings include 356 BTC, 32,300 SOL, and 201,000 ATOM, complemented by positions in ETH, DOT, DOGE, S (formerly FTM), DASH, GRT, OCEAN, and others. Additionally, the Company's investment in SpaceX is currently valued at approximately $8 million, offering exposure to transformative industries beyond blockchain.

• Neptune currently holds a cash balance of $2 million with tier 1 Canadian banks and has recently secured a US$20 million revolving line of credit with interest rates varying from 5.5% to 8.9%, depending on the currency borrowed, CHF or USD, respectively. The line is currently unused.

"Neptune is entering 2025 with unprecedented momentum, setting the stage for a year of transformative growth and innovation," said Cale Moodie, Neptune's CEO. "Our record-breaking quarter reflects the strength of our strategy and our ability to capitalize on the opportunities of the current bull cycle. With a growing asset base, diversified revenue streams, and a flexible credit facility, we are poised to accelerate our vision of becoming a global leader in digital asset management."

Operating and Financial Overview
($CAD)
	For the period ended		November 30, 2024			November 30, 2023
	Mining revenue		224,761			523,028
	Staking revenue		227,642			147,006
	Direct mining expenses (not incl depreciation)		(245,757	)		(499,295	)
	Other income*		179,336			193,594
	Total earnings		385,982			364,333
	Depreciation**		45,869			76,394
	General expenses		510,695			402,165
	Realized gain on settlements and sales		230,820			(40,557	)
	Revaluation gain on digital currencies***		22,914,730			6,003,716
	Unrealized gain related to equity investments		3,700,845			581,839
	Comprehensive income for the period		26,675,813			6,430,772
Financial Position
($CAD)
	As at		November 30, 2024			August 31, 2024
	Cash and receivables		4,915,595			6,398,130
	Total digital assets		55,089,319			31,288,165
	Total other assets		16,655,331			13,004,152
	Total liabilities		239,855			805,904
	Total shareholders' equity		76,420,390			49,884,543
	Working capital****		12,803,251			11,714,173
	* All non-Bitcoin mining, non-Staking revenue, and non-DeFi revenue generating activities
	** Non-cash items, including depreciation of mining rigs
	*** Revaluation is calculated as the change in value (gain or loss) on digital currencies. When digital currencies are sold, the net difference between the proceeds received and the cost of the digital currencies determined on a First-in, First-out basis, is recorded as a gain (loss) on the sale of digital currencies
	**** Current assets less current liabilities

 

About Neptune Digital Assets Corp.

Neptune Digital Assets Corp. (TSXV: NDA) (OTCQB: NPPTF) (FSE: 1NW) is one of the first publicly traded blockchain companies in Canada and is at the forefront of the cryptocurrency and blockchain landscape. Neptune engages in operations across the digital asset ecosystem including Bitcoin mining, proof-of-stake mining, blockchain nodes, decentralized finance (DeFi), and other associated cutting-edge technology. Our unwavering commitment to innovation and strategic growth enables us to continually explore new opportunities and maximize value for our shareholders. For more information about Neptune Digital Assets Corp., please visit our website at www.neptunedigitalassets.com or follow us on X (@NeptuneDAC).

ON BEHALF OF THE BOARD

Cale Moodie, President and CEO
Neptune Digital Assets Corp.
1-800-545-0941
www.neptunedigitalassets.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX ‎Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.‎

Forward-Looking Statements

This release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans", "proposes" or similar terminology. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the auditors completing the remining auditing items with respect to the Annual Filings; the inherent risks involved in the cryptocurrency and general securities markets; the Company may not be able to profitably liquidate its current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on the Company's operations; the volatility of digital currency prices; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, currency fluctuations; regulatory restrictions, liability, competition, loss of key employees and other related risks and uncertainties.

The Company does not undertake any obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/238174

FAQ

What was Neptune Digital Assets (NPPTF) net income for Q4 2024?

Neptune Digital Assets reported a comprehensive net income of $26.7 million for the quarter ended November 30, 2024.

How many Bitcoin does Neptune Digital Assets (NPPTF) currently hold?

Neptune Digital Assets holds 356 Bitcoin, valued at over $53 million as of the report date.

What was NPPTF's total revenue for Q4 2024?

Neptune Digital Assets generated total revenues and other income of $862,559 for the quarter through mining, staking, DeFi, and other activities.

What is the value of Neptune Digital Assets' (NPPTF) total assets as of November 2024?

Neptune Digital Assets reported total assets of $76.7 million as of November 30, 2024, representing a 51% increase quarter-over-quarter.

What credit facility does NPPTF have available?

Neptune Digital Assets has secured a US$20 million revolving line of credit with interest rates varying from 5.5% to 8.9%, depending on the currency borrowed (CHF or USD).