Interim Report for Q2 2021 & Presentation by CEO Torbjørn Bull Jenssen: Continued strong growth and development
Arcane Crypto AB today published its interim report for Q2 & H1 2021. In addition, CEO Torbjørn Bull Jenssen presented the report through a webcast.
“Q2 has been a great quarter for Arcane Crypto on many fronts as we continue to deliver on our core strategy, to develop and invest in projects focused on bitcoin and digital assets. Our revenue saw strong growth and exceeded 100 MSEK in the quarter, with a gross margin on sales of 5.5 MSEK, for the first time in the Group’s history. The revenue was mainly driven by our acquisition of Kaupang, while the gross margin on sales was also driven by a record quarter for Arcane Assets and Arcane Research.
During the quarter Bank of New York Mellon, announced its involvement with the Pure Digital project. They are joining State Street and 4 other tier one banks, that have yet to be disclosed, exploring the possibilities of a bitcoin interbank marketplace for digital assets.
From an Arcane group perspective, we see great potential in bringing our portfolio of companies even closer together. We’re just getting started. We are working tirelessly to build Arcane into Europe’s leading platform to learn, trade, and invest in the blockchain ecosystem.”
– Torbjørn Bull Jenssen, CEO
Main events during the first quarter 2021
On 2nd April 2021, BlockFi and Arcane Research announced a collaborative partnership to provide a report for BlockFi’s institutional clients every two weeks.
On 8th April 2021, Puremarkets Limited (“Pure Digital”), a company where Arcane Crypto AB holds 37.5% through Arcane Crypto AS, announced that State Street was one of the banks that had signed an LOI with Pure Digital to explore trading of digital assets, and that Currenex, owned by State Street, would provide the trading infrastructure to the Pure Digital platform.
On 16th April 2021, Arcane Crypto AS, a subsidiary of Arcane Crypto AB, increased its shareholding in ITOAM, the owner of the Bitcoin Lightning Network based trading platform LN Markets, from 7% to 16%.
On 20th April 2021, Arcane Crypto announced that its subsidiary Arcane Crypto AS had entered into an agreement to acquire the remaining outstanding shares in Ijort Invest AB, which operates the Swedish crypto exchange Trijo.
On 16th June 2021, Arcane Crypto’s subsidiary Arcane Assets AS signed an LOI with Valour Structured Products Inc. with the intention to explore the issuance and listing of an Exchange-Traded Product based on Arcane’s cryptocurrency fund.
On 24th June, 2021, Arcane Research published a report in collaboration with LMAX Digital titled “The Bitcoin Trading Ecosystem” which focuses on the emerging institutional infrastructure.
On 28th June 2021, Arcane Green Data Services AS signed a leasing contract for hosting bitcoin miners and thereby took the first steps in establishing a bitcoin mining business unit branded Arcane Green Data.
Main events after the end of the period
On 2nd July 2021, Arcane Crypto completed the acquisition of Ijort Invest AB (“Trijo”).
On 21st July 2021, Arcane Crypto’s London based associated company Puremarkets Limited (trading as Pure Digital) announced that Bank of New York Mellon has joined the consortium of banks working with the interbank wholesale marketplace to develop a platform to support the entire digital asset life cycle.
On 29th July 2021, Arcane announced that the Company will be included in CoinShares Elwood Global Blockchain Index as of August 2, 2021.
On 30th July 2021, Arcane announced a collaboration between its fully owned subsidiary Ijort Invest AB (“Trijo”) and the payment service provider Trustly.
On 9th August 2021, Arcane announced that the Company will be included in the Melanion BTC Equities Universe UCITS ETF.
Second quarter of 2021 (compared to second quarter 2020)
Group revenue increased to 100,372 kSEK (190)
EBITDA was -1,484 kSEK (-1,472)
The result for the period was -7,056 (-1,617)
Adjusted result for the period was -7,056 (-1,617)
Earnings per share before dilution were SEK -0.001 (-0.003)
Earnings per share after dilution were SEK -0.001 (-0.003)
First half year 2021 (compared to first half year 2020)
Group revenue increased to 102,529 kSEK (308)
EBITDA was -12,527 kSEK (-4,369)
The result for the period was -143,106* (-4,510)
Adjusted result for the period was -16,153 (-4,510)
Earnings per share before dilution were SEK -0.019 (-0.008)
Earnings per share after dilution were SEK -0.017 (-0.008)
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