Neptune Reports $17.4 Million Comprehensive Net Income and 43% Asset Growth for the Six Months Ended February 28, 2025

Rhea-AI Summary

Neptune Digital Assets reported strong financial results for the six months ended February 28, 2025, with a comprehensive net income of $17.4 million and 43% asset growth. The company's total assets reached $72.2 million, up from August 2024.

Key highlights:

• Bitcoin holdings: 401 BTC valued at $52 million (avg. cost: US$31,564/BTC)
• Solana position: 33,000 SOL (avg. cost: US$64/SOL)
• SpaceX investment: valued at $8.26 million (avg. cost: US$95/share)
• Revenue streams: $1.41 million from mining, staking, and DeFi activities
• Credit facility: US$25 million available through Sygnum Bank

The company maintains diverse crypto holdings including BTC, SOL, ATOM, ETH, and others, while strategically expanding through mining operations and staking rewards. Working capital stands at $6.3 million with total shareholder equity of $67.2 million.

Positive

• 43% growth in total assets to $72.2M from August 2024
• 401 Bitcoin holdings valued at $52M with favorable average cost of US$31,564/BTC
• Increased Solana holdings to 33,000 SOL from initial 26,964 SOL position
• $17.4M comprehensive net income for six-month period
• SpaceX investment valued at $8.26M showing portfolio diversification
• 94% increase in staking revenue to $530,805 from $273,746
• Access to $25M revolving credit line with Sygnum Bank
• Significant unrealized gains: $14.3M on digital currencies, $3.3M on equity investments

Negative

• 20% decrease in total revenue to $1.41M from $1.77M year-over-year
• 52% decline in mining revenue to $495,338 from $1.03M
• 47% increase in general expenses to $1.17M from $798K
• Working capital decreased 46% to $6.32M from $11.71M
• Credit line utilization of US$4.86M creating debt exposure
• Total liabilities increased significantly to $5.07M from $806K

Vancouver, British Columbia--(Newsfile Corp. - April 29, 2025) - Neptune Digital Assets Corp. (TSXV: NDA) (OTCQB: NPPTF) (FSE: 1NW) ("Neptune" or the "Company"), a blockchain leader in Canada, is pleased to announce robust financial results for the six months ended February 28, 2025, highlighted by $17.4 million in net income and a 43% growth in total assets.

Key financial and operational highlights up to the date of this release include:

• Neptune ended the quarter on February 28, 2025, with $72.2 million in assets, up 43% from August 2024 year-end.

• Neptune has grown its Bitcoin treasury to approximately 401 Bitcoin (BTC) currently valued at $52 million with an average cost of US$31,564 per BTC. The Company continues to expand its holdings through mining operations, converting staking rewards, and direct acquisitions, reinforcing Neptune's commitment to long-term BTC focused accumulation.

• Neptune currently holds approximately 33,000 Solana (SOL), leveraging staking strategies and partnerships to maximize its position growth. Since its acquisition of 26,964 SOL at an average cost of US$64 per SOL, Neptune has consistently expanded its holdings, capitalizing on Solana's growth and staking rewards to enhance long-term value.

• Total gross revenues and other income for the six months ended reached $1.41 million, generated through multiple streams including Bitcoin mining, staking, DeFi, and other activities. This decreased from $1.77 million in the same period of the prior year due to reduced post halving mining revenues and decreased values of altcoins received as rewards.

• Neptune's top three holdings include 401 BTC, 33,000 SOL, and 201,000 ATOM, complemented by positions in ETH, DOT, DOGE, S (formerly FTM), DASH, GRT, OCEAN, and others.

• The Company's investments in SpaceX are currently valued at approximately $8.26 million with an average cost of US$95 per common share. Neptune has continued to strategically acquire shares, offering exposure to transformative industries beyond blockchain.

• Neptune currently has access to US$25.0 million through a revolving line of credit with Sygnum Bank, the current balance is US$4.86 million with interest payable quarterly.

"Neptune continues to grow its asset base in a strategic and optimized manner. Dollar cost averaging into a foundational position in Bitcoin coupled with timely acquisitions of SpaceX and Solana, have resulted in Neptune having incredibly low average cost bases on these highly valuable assets. The stage is set for what we believe to be a strong growth phase for the Company and an exciting time for shareholders," said Cale Moodie, Neptune's CEO.

Operating and Financial Overview
($CAD)
	For the six months ended	February 28, 2025	February 28, 2024
	Mining revenue	495,338	1,030,152
	Staking revenue	530,805	273,746
	Direct mining expenses (not incl. depreciation)	(500,442)	(825,493)
	Other income*	382,622	462,868
	Total earnings	908,323	941,273
	Depreciation**	92,244	146,048
	General expenses	1,169,326	797,756
	Realized gain on settlements and sales	88,930	153,914
	Revaluation gain on digital currencies***	14,329,123	17,908,915
	Unrealized gain related to equity investments	3,338,373	581,839
	Comprehensive income for the period	17,403,179	18,642,137
Financial Position
($CAD)
	As at	February 28, 2025	August 31, 2024
	Cash and receivables	1,746,054	6,398,130
	Total digital assets	54,233,560	31,288,165
	Total other assets	16,264,511	13,004,152
	Total liabilities	5,072,369	805,904
	Total shareholders' equity	67,171,756	49,884,543
	Working capital****	6,317,405	11,714,173
	* All non-Bitcoin mining, non-Staking revenue, and non-DeFi revenue generating activities
	** Non-cash items, including depreciation of mining rigs
	*** Revaluation is calculated as the change in value (gain or loss) on digital currencies. When digital currencies are sold, the net difference between the proceeds received and the cost of the digital currencies determined on a First-in, First-out basis, is recorded as a gain (loss) on the sale of digital currencies
	**** Current assets less current liabilities

 

About Neptune Digital Assets Corp.

Neptune Digital Assets Corp. (TSXV: NDA) (OTCQB: NPPTF) (FSE: 1NW) is one of the first publicly traded blockchain companies in Canada and is at the forefront of the cryptocurrency and blockchain landscape. Neptune engages in operations across the digital asset ecosystem including Bitcoin mining, proof-of-stake mining, blockchain nodes, decentralized finance (DeFi), and other associated cutting-edge technology. Our unwavering commitment to innovation and strategic growth enables us to continually explore new opportunities and maximize value for our shareholders. For more information about Neptune Digital Assets Corp., please visit our website at www.neptunedigitalassets.com or follow us on Twitter (@NeptuneDAC).

ON BEHALF OF THE BOARD

Cale Moodie, President and CEO
Neptune Digital Assets Corp.
1-800-545-0941
www.neptunedigitalassets.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the 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 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 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250081

FAQ

How much did Neptune Digital Assets (NPPTF) grow its assets in February 2025?

Neptune Digital Assets grew its total assets by 43% to $72.2 million by February 28, 2025, compared to August 2024 year-end, driven by Bitcoin holdings and strategic investments.

What is Neptune Digital Assets' (NPPTF) current Bitcoin holdings and average cost?

Neptune Digital Assets holds 401 Bitcoin valued at $52 million, with an average cost basis of US$31,564 per BTC, acquired through mining operations, staking rewards conversion, and direct purchases.

What caused Neptune Digital Assets' (NPPTF) revenue decline in February 2025?

Neptune's total revenue decreased from $1.77 million to $1.41 million due to reduced post-halving mining revenues and lower values of altcoin rewards received during the six months ended February 28, 2025.

How many Solana (SOL) tokens does Neptune Digital Assets (NPPTF) currently hold?

Neptune Digital Assets currently holds approximately 33,000 Solana (SOL) tokens, expanded from an initial position of 26,964 SOL purchased at an average cost of US$64 per SOL.

What is Neptune Digital Assets' (NPPTF) comprehensive net income for February 2025?

Neptune Digital Assets reported a comprehensive net income of $17.4 million for the six months ended February 28, 2025, largely driven by revaluation gains on digital currencies and equity investments.