Neptune Digital Assets Announces a Record Fiscal First Quarter with $13 Million in Comprehensive Income

Neptune Digital Assets Announces a Record Fiscal First Quarter with $13 Million in Comprehensive Income

Vancouver, British Columbia–(January 31, 2022) – Neptune Digital Assets Corp. (TSXV: NDA) (OTC Pink: NPPTF) (FSE: 1NW) (“Neptune” or the “Company“) is pleased to announce that it has released its November 30, 2021 quarterly consolidated financial statements and management, discussion and analysis for the three months ending November 30, 2021.

Below are a number of financial highlights pertaining to the first quarter ending November 30, 2021 and for the period subsequent to year end up to the date of this news release.

  • Neptune ended the quarter on November 30, 2021 with $67 million in assets and no debt. This equates to an increase of 23% in asset value over August 31, 2021 year end.
  • Neptune earned $1,707,046 through Bitcoin mining and other income-generating activities during the three-month period ending November 30, 2021.
  • Total expenses for the three-month period were $193,308 or $64,436 per month.
  • Subsequent to November 30, 2021 and up to the date of this release, Neptune earned an additional 35 Bitcoin, bringing the total Bitcoin balance to 160.
  • 530 Bitcoin mining rigs, equating to 53 petahash, are expected to come online in the first calendar quarter of 2022 adding to the existing 22 petahash of capacity.
  • Neptune’s two largest digital asset holdings as of the date of this release are 160 BTC and 151,000 ATOM. The Company also holds positions in FTM, Tshare, DOT, DASH, Tomb, ETH, BCH, LTC, and a number of other tokens of immaterial values, as well as an investment in the Protocol Crypto Quant Fund valued at $8.2 million at the end of November and a current cash balance of $23.1 million for strategic acquisitions, Bitcoin mining rig purchases and operations.

“Neptune had an amazing first quarter with a $12.6 million increase in assets on our balance sheet and $13 million in comprehensive income,” stated Cale Moodie, Neptune CEO. “We hope to see the general crypto space grow as we move forward into 2022 and our Bitcoin mining, staking, and DeFi earnings to increase accordingly as we grow those arms of the business. We anticipate another 53 petahash of mining capacity to come online in Q2 thus growing our Bitcoin earnings. We are staying true to our diversified model and will continue to manage our risk while maximizing our earnings across the board.”

Certain information provided in this news release is extracted from audited financial statements and ‎management, discussion and analysis for the first quarter ended November 30, 2021 that are filed under the ‎Company’s profile on SEDAR and ‎should be read in conjunction with them. It is only in the context of ‎the information and disclosures ‎contained therein that an investor can properly analyze this ‎‎information.

Operating and Financial Overview
For the three months endedNovember 30, 2021November 30, 2020
Mining Revenue                             293,794                                    –
Other income*                         1,413,252                          44,862
Total Earnings                         1,707,046                          44,862
Depreciation**                             159,818                                    –
Stock based compensation**                             184,214                          10,416
General expenses (recovery)                           (150,724)                        105,008
Realized gain (loss) on settlements and sales                             367,633                             1,810
Revaluation of digital currencies***                         6,111,989                        459,439
Unrealized gain related to lending activities
and short term investments
                         4,935,551                      (143,877)
Comprehensive income for the period                       12,928,911                        246,810
Financial Position
As atNovember 30, 2021August 31, 2021
Cash and cash loans                       27,269,572                        154,803
Total digital assets                       22,335,525                  48,182,494
Total other assets                       17,687,525                     6,338,384
Total liabilities                             272,899                        769,083
Total shareholders equity                       67,019,723                  53,906,598
Working capital****                       42,938,925                  36,141,081
* All non-Bitcoin mining revenue generating activities
** Non-cash items
***  Revaluation is calculated as the change in value (gain or loss) on the coin inventory. When
coins are sold, the net difference between the proceeds and the carrying value of the digital
currency (including the revaluation), is recorded as a gain (loss) on the sale of digital
**** Current assets less current liabilities


About Neptune Digital Assets Corp.

Neptune Digital Assets (TSXV: NDA) is one of the first publicly-traded blockchain companies in Canada and is a cryptocurrency and blockchain infrastructure leader with operations across the digital asset ecosystem including Bitcoin mining, proof-of-stake mining, blockchain nodes, decentralized finance (DeFi), and other associated blockchain technologies.


Cale Moodie, President and CEO
Neptune Digital Assets Corp.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX ‎Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.‎

Forward-Looking Statements

This release contains certain “forward-looking statements” and certain “forward-looking information” as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans”, “proposes” or similar terminology. Forward-looking statements and information include, but are not limited to, Company’s operations and sustainable future profitability; potential further improvements to the profitability and efficiency across operations by optimizing cryptocurrency mining output, continuing to lower direct mining operations cost structure, and maximizing existing electrical and infrastructure capacity including with new mining equipment; continued adoption of cryptocurrency. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the inherent risks involved in the cryptocurrency and general securities markets; the Company’s ability to successfully mine digital currency; revenue of the Company may not increase as currently anticipated, or at all; the Company may not be able to profitably liquidate its current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on the Company’s operations; the volatility of digital currency prices; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, currency fluctuations; regulatory restrictions, liability, competition, loss of key employees and other related risks and uncertainties. The Company does not undertake any obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.



All transaction are carrying out by SiLLC, a private portfolio management assembly. This document is not an offer of securities for sale or investment advisory services. This document contains general information only and is not intended to represent general or specific investment advice. Past performance is not a reliable indicator of future results and targets are not guaranteed. Certain statements and forecasted data are based on current expectations, current market and economic conditions, estimates, projections, opinions and beliefs of SiLLC and/or its members. Due to various risks and uncertainties, actual results may differ materially from those reflected or contemplated in such forward-looking statements or in any of the case studies or forecasts. All references to SiLLC’s advisory activities relates to SiLLC Assembly International.

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