Blockchain
Canada Computational Unlimited Announces Best Quarter In History With Q3 2021 Financial Results Including Revenue Growth Of 247% From Q3 2020
Toronto, Ontario–(Newsfile Corp. – November 19, 2021) – Canada Computational Unlimited Corp. (TSXV: SATO) (“CCU” or “the Company”) is pleased to announce its financial results for the three and nine months ending September 30, 2021 (“Q3 2021”). All amounts in this news release are unaudited and, unless otherwise indicated, are in Canadian dollars.
Q3 2021 Highlights:
- Revenue from digital assets mined grew 247% and 150% for the three and nine months ended September 30, 2021 compared to the three and nine months ended September 30, 2020.
- Revenue from hosting grew 1778% and 668% for the three and nine months ended September 30, 2021 compared to the three and nine months ended September 30, 2020.
- Gross profit grew 769% and 1771% for the three and nine months ended September 30, 2021 compared to the three and nine months ended September 30, 2020.
- Completed the reverse takeover of Capricorn Business Acquisitions Inc. and was listed on the TSX Venture Exchange on September 16, 2021 under the symbol SATO.
- Reimbursed, in advance, loans to related parties thereby retiring substantially the Company’s debt.
“I’m extremely pleased with the results. Buoyed by the price of Bitcoin, we reached record revenues and gross profit as well as greatly improving adjusted EBITDA performance to 35.6% of revenue vs. 16.3% for the same period last year.” commented Mr. Romain Nouzareth, CEO.
Q3 2021 Financial Overview:
For the three and nine months ended September 30, 2021, the Company recorded a net loss of $1,004,354 and $1,162,035 compared to a net loss of $424,504 and $848,483 for the three and nine months ended September 30, 2020. Contributing to the loss for the three and nine months ended September 30, 2021 are one-time listing expense related to charges in the amount of $1,942,221. A summary of the results are as follows:
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/104337
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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