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Bluesky Digital Assets ( (TSE:BTC) ) has provided an update.
Bluesky Digital Assets Corp announced the completion of the second tranche of its Non-Brokered Private Placement Offering, raising a total of C$310,000 with the issuance of 2,583,333 Units. The company plans to extend the offering to raise up to C$1,000,000 by August 15, 2025, with proceeds aimed at advancing AI development, online gaming, and general working capital. This move is expected to bolster Bluesky’s position in the rapidly growing AI and Blockchain sectors, enhancing its operational capabilities and market presence.
Spark’s Take on TSE:BTC Stock
According to Spark, TipRanks’ AI Analyst, TSE:BTC is a Underperform.
Bluesky Digital Assets is currently under significant financial stress, with declining revenue and high operating losses contributing to a low financial performance score. The technical analysis indicates strong bearish momentum, with the stock trading below key moving averages. Valuation is also weak due to negative earnings and no dividend yield. However, a recent strategic investment in ChessGold offers a potential growth opportunity in the AI and blockchain space, slightly improving the overall outlook.
To see Spark’s full report on TSE:BTC stock, click here.
More about Bluesky Digital Assets
Bluesky Digital Assets Corp is a digital enterprise operating at the intersection of Artificial Intelligence, Blockchain, and Web3 business solutions. The company has developed a platform, BlueskyINTEL, designed to leverage the growth of AI and Blockchain technologies, providing proprietary technology solutions to support businesses in adopting these emerging technologies.
Average Trading Volume: 72,785
Technical Sentiment Signal: Sell
Current Market Cap: C$8.71M
See more data about BTC stock on TipRanks’ Stock Analysis page.