DigitalX reports strong growth in staking revenues and reduced operating costs
DigitalX (ASX:DCC) announced a positive update on its financial performance, showcasing substantial growth in staking revenues and a reduction in operating costs.
The company has shifted its focus towards blockchain infrastructure, particularly crypto asset staking, seeing it as a stable, recurring revenue stream with a lower cost structure.
This pivot is in line with DigitalX's broader commitment to digital asset innovation and shareholder value.
In the recent March quarter, staking revenue rose to $318,000, further bolstering the company’s financial profile.
Alongside this growth, DigitalX achieved a 23% reduction in operating costs through process optimizations and targeted savings.
The company has also continued to increase its Bitcoin holdings, adding 41.99 Bitcoin to its balance sheet following the return of assets from the Mt. Gox hacking event of 2012.
Interim CEO Demetrios Christou stated, "Our strategic focus on staking activities is already delivering measurable returns. At the same time, we've taken steps to streamline our operations, reduce our cost base, and ensure we are well positioned to scale efficiently."
At the time of reporting, DigitalX's share price was $0.051.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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