Toronto, Ontario--(Newsfile Corp. - June 1, 2020) - Bluesky Digital Assets Corp., (CSE: BTC), (CSE: BTC.PR.A), (OTC Pink: BTCWD), ("Bluesky" or the "Corporation") released today a summary of its Unaudited Q1, 2020 Interim Financial Statements for the three months ended March 31st, 2020. Key highlights include:
- Total Gross Revenues from the Corporation's Digital Assets Mining operations increased to $101,611 CDN in Q1, 2020 from $0 / NIL in Q1, 2019.
- Total Gross Revenue from the Corporation's Digital Assets Mining operations increased to $101,611 CDN in Q1, 2020 from $37,200 CDN in Q4, 2019, representing a quarter over quarter increase of 173%.
- Total Gross Revenue from the Corporation's Digital Assets Mining operations was $94,450 CDN for all of fiscal 2019 representing a monthly average of $7,870 CDN per month in Gross Revenue being generated from the Corporation's Digital Assets Mining operations. Digital Asset Mining operating costs amounted to $94,921 CDN in Q1. The Corporation's monthly Gross Revenue generated from the Corporation's Digital Assets Mining operations average was $33,870 CDN per month for the first three months of 2020, representing a monthly average increase of 330% vs. fiscal 2019's monthly average of $7,870 CDN per month.
- Fully Diluted EPS remained as $0.00 for Q1, 2020 vs. $0.00 in Q1, 2019.
Mr. Ben Gelfand CEO & Director stated: "The Management of the Corporation is extremely pleased with the progress that has been made in Q1 of 2020 and what has been accomplished thus far in Q2 of 2020. The hard work that we commenced in Q3 of 2019 to reposition, restructure and refocus the Corporation's primary emphasis on technology is now quickly bearing fruit. Furthermore, despite the unprecedented downturn in the global economy due to COVID-19, we have witnessed an increase in our monthly gross revenues which we strongly feel wouldn't have been the case if the Corporation was still using its old business model which was heavily entrenched in real estate. We continue to push forward on rapidly expanding and improving the Corporation's Digital Assets Mining operations. As announced on May 12th, via press release, we recently completed the Fifth Deployment of expansion of our digital assets mining operations which involved the addition of another $230,000.00 CDN worth of advanced ASIC mining machines."
About Bluesky Digital Assets Corp.
Bluesky Digital Assets Corp, is building a high value digital currency enterprise. Bluesky mines digital currencies, such as Bitcoin and Ether, and is developing value-added technology services for the digital currency market, such as digital mining proprietary software. Offering a complete ecosystem of value-creation, Bluesky is targeting reinvesting appropriate portions of its digital currency mining profits back into its operations. A percentage of the profit will be invested in the development of a proprietary Artificial Intelligence ("AI") based technology. Overall, Bluesky takes an approach that enables the Corporation to scale, and respond to changing conditions, within the still-emerging digital currency industry. The Corporation is poised to capture value in successive phases as this industry continues to scale. For more information please visit www.blueskydigitalassets.com
For further information please contact:
Mr. Steve Low
Investor Relations
Boom Capital Markets
T: (647) 620-5101
E: steve@boomcapitalmarkets.com
Mr. Ben Gelfand
CEO & Director
Bluesky Digital Assets Corp.
T: (416) 363-3833
E: ben.gelfand@blueskydigitalassets.com
Mr. Frank Kordy
Secretary & Director
Bluesky Digital Assets Corp.
T: (647) 466-4037
E: frank.kordy@blueskydigitalassets.com
Forward-Looking Statements
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward- looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE accepts responsibility for the adequacy or accuracy of this release. We seek safe harbor.
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