DigitalX Boosts Staking Revenue and Cuts Costs

DigitalX Limited ( (AU:DCC) ) has issued an announcement.

DigitalX Limited has strategically increased its focus on blockchain infrastructure, particularly crypto asset staking, to generate stable, recurring revenue. This shift has resulted in staking activities becoming a significant contributor to the company’s revenue, with $318k earned in the March quarter. Concurrently, DigitalX has achieved a 23% reduction in operating costs through process optimization and targeted savings, enhancing its scalability and resilience. The company also continues to prioritize Bitcoin accumulation, adding 41.99 Bitcoin from the Mt Gox hacking event to its balance sheet.

More about DigitalX Limited

DigitalX Ltd (ASX:DCC) is a leading Australian digital investment manager and the only ASX-listed crypto fund manager. With over six years of experience in digital asset management, the company has delivered strong results, including the top-performing DigitalX Bitcoin Fund in Australia for 2023. DigitalX focuses on domestic individual wholesale investors and family offices, managing Australia’s first ASX-listed spot Bitcoin ETF and leveraging blockchain technologies for value creation.

YTD Price Performance: -62.50%

Average Trading Volume: 32,265

Technical Sentiment Signal: Buy

Current Market Cap: $40.11M

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