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Neptune Announces Audited Annual Financials with $17.1m Comprehensive Net Income and 54% Asset Growth

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Neptune Digital Assets reported strong financial results for the fiscal year ended August 31, 2024. The company's assets grew 54% to $50.7 million with no debt, and achieved a comprehensive net income of $17.1 million, compared to a $3.4 million loss in the previous year. Mining revenues declined slightly to $1.8 million due to BTC halving, while staking revenues increased.

The company's portfolio includes 354 BTC, 32,100 SOL, 200,000 ATOM, and other cryptocurrencies. Neptune also holds 26,720 SpaceX shares valued at approximately $7.1 million, representing over 100% increase from 2023. With $4 million in cash reserves and pursuing up to $25 million USD in debt financing, Neptune is positioning for growth without shareholder dilution.

Neptune Digital Assets ha riportato risultati finanziari solidi per l'anno fiscale concluso il 31 agosto 2024. Gli asset dell'azienda sono cresciuti del 54% raggiungendo 50,7 milioni di dollari senza debiti, e ha registrato un reddito netto complessivo di 17,1 milioni di dollari, rispetto a una perdita di 3,4 milioni di dollari dell'anno precedente. I ricavi da mining sono diminuiti leggermente a 1,8 milioni di dollari a causa della halving di BTC, mentre i ricavi da staking sono aumentati.

Il portafoglio dell'azienda include 354 BTC, 32.100 SOL, 200.000 ATOM e altre criptovalute. Neptune possiede anche 26.720 azioni SpaceX, valutate circa 7,1 milioni di dollari, con un aumento di oltre il 100% rispetto al 2023. Con 4 milioni di dollari in riserve di cassa e la ricerca di finanziamenti in debito fino a 25 milioni di dollari, Neptune si sta posizionando per la crescita senza diluire gli azionisti.

Neptune Digital Assets reportó resultados financieros sólidos para el año fiscal que finalizó el 31 de agosto de 2024. Los activos de la compañía crecieron un 54% alcanzando 50,7 millones de dólares sin deudas, y logró un ingreso neto integral de 17,1 millones de dólares, en comparación con una pérdida de 3,4 millones de dólares en el año anterior. Los ingresos por minería disminuyeron ligeramente a 1,8 millones de dólares debido a la reducción a la mitad de BTC, mientras que los ingresos por staking aumentaron.

La cartera de la compañía incluye 354 BTC, 32.100 SOL, 200.000 ATOM y otras criptomonedas. Neptune también posee 26.720 acciones de SpaceX valoradas en aproximadamente 7,1 millones de dólares, lo que representa un aumento de más del 100% desde 2023. Con 4 millones de dólares en reservas de efectivo y persiguiendo financiamiento en deuda de hasta 25 millones de dólares, Neptune se está posicionando para el crecimiento sin diluir a los accionistas.

Neptune Digital Assets는 2024년 8월 31일로 종료된 회계연도에 대한 강력한 재무 결과를 보고했습니다. 회사의 자산은 부채 없이 54% 성장하여 5,070만 달러에 도달했으며, 전년도 340만 달러의 손실과 비교하여 1,710만 달러의 포괄적인 순이익을 달성했습니다. BTC 반감기 영향으로 채굴 수익이 소폭 감소하여 180만 달러에 불과했지만, 스테이킹 수익은 증가했습니다.

회사의 포트폴리오에는 354 BTC, 32,100 SOL, 200,000 ATOM과 기타 암호화폐가 포함되어 있습니다. Neptune은 약 710만 달러 가치의 26,720 SpaceX 주식도 보유하고 있으며, 이는 2023년 대비 100% 이상의 증가를 의미합니다. 이 회사는 400만 달러의 현금 예비금과 최대 2,500만 달러의 채무 자금을 추구하며, 주주 희석 없이 성장하기 위한 입지를 다지고 있습니다.

Neptune Digital Assets a rapporté des résultats financiers solides pour l'exercice clos le 31 août 2024. Les actifs de l'entreprise ont augmenté de 54 % pour atteindre 50,7 millions de dollars sans dettes, et ont enregistré un revenu net global de 17,1 millions de dollars, comparé à une perte de 3,4 millions de dollars l'année précédente. Les revenus du minage ont légèrement diminué à 1,8 million de dollars en raison de la réduction de moitié du BTC, tandis que les revenus de staking ont augmenté.

Le portefeuille de l'entreprise comprend 354 BTC, 32 100 SOL, 200 000 ATOM et d'autres cryptomonnaies. Neptune détient également 26 720 actions SpaceX d'une valeur d'environ 7,1 millions de dollars, représentant une augmentation de plus de 100 % par rapport à 2023. Avec 4 millions de dollars de réserves de cash et la recherche d'un financement par emprunt pouvant aller jusqu'à 25 millions de dollars, Neptune se positionne pour croître sans diluer les actionnaires.

Neptune Digital Assets berichtete über starke finanzielle Ergebnisse für das zum 31. August 2024 endende Geschäftsjahr. Die Vermögenswerte des Unternehmens wuchsen um 54 % auf 50,7 Millionen Dollar ohne Schulden und erzielten ein umfassendes Nettoeinkommen von 17,1 Millionen Dollar, im Vergleich zu einem Verlust von 3,4 Millionen Dollar im Vorjahr. Die Einnahmen aus dem Mining sanken leicht auf 1,8 Millionen Dollar aufgrund der BTC-Halbierung, während die Staking-Einnahmen anstiegen.

Das Portfolio des Unternehmens umfasst 354 BTC, 32.100 SOL, 200.000 ATOM und andere Kryptowährungen. Neptune hält außerdem 26.720 SpaceX-Aktien im Wert von etwa 7,1 Millionen Dollar, was einem Anstieg von über 100 % im Vergleich zu 2023 entspricht. Mit 4 Millionen Dollar an Barreserven und auf der Suche nach bis zu 25 Millionen Dollar an Fremdfinanzierung positioniert sich Neptune für Wachstum, ohne die Aktionäre zu verwässern.

Positive
  • Total assets increased 54% to $50.7 million with zero debt
  • Achieved $17.1 million comprehensive net income vs $3.4 million loss previous year
  • SpaceX investment doubled in value to $7.1 million
  • Strong cash position of $4 million providing 2+ years operational runway
  • Pursuing $25 million non-dilutive debt financing for growth
Negative
  • Mining revenue declined 23% from $2.3M to $1.8M due to BTC halving
  • Direct mining expenses remained high at $1.4M despite lower revenue
  • General expenses of $2.36M exceeded total earnings of $1.59M

Vancouver, British Columbia--(Newsfile Corp. - December 20, 2024) - Neptune Digital Assets Corp. (TSXV: NDA) (OTCQB: NPPTF) (FSE: 1NW) ("Neptune" or the "Company"), one of the first publicly traded blockchain companies in Canada, is pleased to announce that it has released its August 31, 2024 annual audited consolidated financial statements and management discussion and analysis.

Below are key financial and operational highlights for the fiscal year ended August 31, 2024, along with subsequent developments up to the date of this release.

  • Neptune ended the fiscal year on August 31, 2024, with $50.7 million in assets and no debt, an increase of 54% over the previous fiscal year.

  • Neptune achieved a total comprehensive net income of $17.1 million for the fiscal year ended August 31, 2024, a significant growth from a net comprehensive loss of $3.4 million in the prior year.

  • Gross mining revenues experienced a slight decline from $2.3 million to $1.8 million this year, primarily due to the halving event reducing BTC production.

  • Staking revenues increased, driven by the growth in staked altcoin balances. As part of its staking growth strategy, Neptune acquired 26,964 Solana (SOL), a leading blockchain platform for high-performance decentralized applications. As of the date of this release, Neptune holds 32,100 SOL, with the majority of these holdings staked and generating consistent staking revenue.

  • As of the date of this release, Neptune's largest digital asset holdings include 354 BTC; 32,100 SOL; 200,000 ATOM; 663,000 FTM; 1.27 million GRT; 51,000 DOT; and 141 ETH. The Company also holds positions in DASH, JUNO, Ocean, and a number of other smaller market-cap tokens.

  • Neptune holds 26,720 SpaceX shares through two third-parties valued at approximately $7.1 million at the date of this release, representing an increase of over 100% from August 31, 2023.

  • In addition to its other assets, Neptune holds a cash balance of $4 million held with a tier 1 Canadian bank, providing sufficient funding to sustain operations for over two years of normal general and administrative costs.

  • Neptune is on track to secure up to $25 million USD in debt financing, creating opportunities for additional investments in crypto assets, derivative trading, and proof-of-stake operations without any dilution to shareholders.

"This year has been transformative for Neptune as we position ourselves at the forefront of the crypto bull market. By strategically rebalancing and leveraging our assets, we are seizing the opportunities presented by rising crypto prices. Our SpaceX investment has grown into a substantial asset, reflecting our commitment to forward-thinking investments with long-term potential. To fuel growth without diluting shareholder value, we are actively pursuing non-dilutive debt financing, enabling us to capitalize on this cycle's momentum. We deeply appreciate the loyalty of our shareholders through the crypto winter and are thrilled about the opportunities ahead as we gear up for what promises to be an exciting and profitable 2025," stated Cale Moodie, Neptune's CEO.

Operating and Financial Overview 





($CAD)
 






For the year endedAugust 31, 2024

August 31, 2023


 






Mining revenue 
1,759,107

2,289,376

Staking revenue 
649,015

582,379

DeFi revenue 
-

30,577

Direct mining expenses (not incl depreciation) 
(1,425,866)
(1,928,490)

Other income* 
604,914

678,079

Total earnings 
1,587,170

1,651,921


 
 

 

Depreciation** 
284,724

518,922

Stock based compensation** 
234,894

443,069

General expenses  
2,358,266

2,615,296


 
 

 

Recovery net of impairment 
308,160

-

Realized gain on settlements and sales 
604,371

(3,264,802)

Revaluation gain on digital currencies*** 
14,042,927

1,478,568

Unrealized gain related to equity investments 
3,449,607

316,772

Comprehensive income (loss) for the year 
17,114,351

(3,394,828)
Financial Position 
 

 
($CAD)
 
 

 

As atSaturday, August 31, 2024

August 31, 2023

Cash and receivables 
6,398,130

12,118,891

Total digital assets 
31,288,165

12,946,322

Total other assets 
13,004,152

7,870,310

Total liabilities 
805,904

654,475

Total shareholders' equity 
49,884,543

32,281,048

Working capital**** 
11,714,173

14,538,573


 
 

 

* 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. is one of the first publicly traded blockchain companies in Canada and is a cryptocurrency and blockchain infrastructure leader with operations across the digital asset ecosystem including Bitcoin mining, proof-of-stake mining, blockchain nodes, decentralized finance (DeFi), and other associated blockchain technologies.

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/234637

FAQ

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

Neptune Digital Assets reported a comprehensive net income of $17.1 million for the fiscal year ended August 31, 2024, compared to a loss of $3.4 million in the previous year.

How much did NPPTF's mining revenue decrease in 2024?

Neptune's mining revenue decreased from $2.3 million to $1.8 million in fiscal year 2024, primarily due to the Bitcoin halving event.

What is the value of Neptune Digital Assets' SpaceX holdings?

Neptune holds 26,720 SpaceX shares valued at approximately $7.1 million as of December 2024, representing a 100% increase from August 31, 2023.

How much debt financing is NPPTF seeking in 2024?

Neptune is pursuing up to $25 million USD in debt financing for investments in crypto assets, derivative trading, and proof-of-stake operations.

What are Neptune Digital Assets' (NPPTF) major cryptocurrency holdings?

Neptune's major holdings include 354 BTC, 32,100 SOL, 200,000 ATOM, 663,000 FTM, 1.27 million GRT, 51,000 DOT, and 141 ETH.

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