Business
Netcoins Canada Provides Q1 2025 Results
VANCOUVER, British Columbia, May 06, 2025 (GLOBE NEWSWIRE) -- BIGG Digital Assets Inc. ( ...
About this update from Bigg Digital Assets Inc.
[{"type":"text","content":"Netcoins Canada Provides Q1 2025 Results\n\n\n\n VANCOUVER, British Columbia, May 06, 2025 (GLOBE NEWSWIRE) --\n \n BIGG Digital Assets Inc.\n \n (“\n \n BIGG\n \n ” or the “\n \n Company\n \n ”)\n \n (TSXV: BIGG; OTCQX: BBKCF; WKN: A2PS9W),\n \n a leading innovator in the digital assets space and owner of\n \n\n Netcoins\n \n\n ,\n \n\n Blockchain Intelligence Group\n \n\n , and\n \n\n TerraZero\n \n\n is pleased to provide Netcoins' Canadian operations' unaudited first-quarter financial guidance for the period ended March 31, 2025. All financial references are in Canadian dollars (CAD) unless otherwise noted.\n \n\n\n Q1 2025 Financial Results\n \n\n\n\n Q1 2025 trading volume was approximately $334 million, compared to Q1 2024’s trading volume of $265 million, marking a 26% increase YoY\n \n\n Total Q1 2025 trading and staking revenue is expected to be $3.3 million, marking an increase of 6% over Q1 2024 revenues of $3.1 million. Gross margin from trading remained consistent at approximately 1% (Q1 2024 - 1%)\n \n\n Operating expenses were roughly $2.1 million (Q1 2024 - $2.6 million). Net loss was approximately $676k, and included unrealized losses of $2.05 million on crypto inventory due to a decline in crypto prices. In Q1 2024, the net income was $4.2 million and included unrealized gains of $3.98 million due to crypto price appreciation. When comparing the two periods, adjusting to remove the effect of unrealized gains or losses on crypto inventory due to price fluctuation, normalized income for Q1 2025 was $1.38 million and Q1 2024 was $239k\n \n\n Netcoins' cash and digital assets are valued at approximately $16.9 million as of March 31, 2025 (March 31, 2024 - $7.9 million), an increase of 114% from the prior year\n \n\n Netcoins holds $168 million of Assets under Custody (AUC) as of March 31, 2025 (March 31, 2024 - $87.4 million), an increase of approximately 92% from the prior year\n \n\n\n\n Q1 2025 Achievements\n \n\n\n\n Netcoins became an\n \n\n Alliance Partner with Circle\n \n\n (USDC), becoming the first Canadian CTP to participate in the program\n \n\n Netcoins launched its updated version of the Netcoins Web Application, including\n \n\n TradingView\n \n\n and a cutting-edge new design\n \n\n\n\n Netcoins.com\n \n\n re-launched with an updated look and feel\n \n\n Netcoins ...