Blockchain
Bluesky Digital Assets Corp., Releases Its Q2, 2022 Financial Results
Toronto, Ontario–(Newsfile Corp. – August 30, 2022) – Bluesky Digital Assets Corp., (CSE: BTC), (OTCQB: BTCWF), (“Bluesky” or the “Corporation”) provided a synopsis of its Unaudited Q2, 2022 Interim Financial Statements for the three and six months ended June 30, 2022 which were filed on August 29, 2022 after market close.
Key highlights of Q2, 2022 include:
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Total Gross Revenue from the Corporation’s Digital Assets Mining operations decreased to $500,685 CAD in Q2, 2022 from $580,583 CAD in Q1, 2022 representing a decrease of 13.7% over Q1, 2022’s total.
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Total Gross Revenue from the Corporation’s Digital Assets Mining operations decreased to $500,685 CAD in Q2, 2022 from $851,813 CAD in Q2, 2021 representing a decrease of 41% over Q2, 2021’s total.
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Digital Asset Mining operating costs, electrical, hosting and bandwidth costs, and a one-time charge involving the set-up and delivery of the Corporation’s Antspace and charges for moving of equipment from Canada to Texas amounted to $928,898 CAD. Without the Antspace and moving charges, operation costs amounted to approx. $400,000 CAD.
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As of June 30, 2022, Total Assets on the Corporation’s balance sheet amounted to $8,470,876 CAD vs. $1,596,234 in current liabilities.
To view the Corporation’s Q2, 2022 Interim Financial Statements and the accompanying Management Discussion and Analysis please visits the Corporation’s SEDAR profile page by visiting www.sedar.com.
Q2, 2022 continued to be a very challenging quarter for both the Cryptocurrency and Technology sectors and although the Corporation weathered the downturn, and successfully further advanced its active mining operations, the Corporation wasn’t completely immune to the headwinds presented in Q2 as the Corporation experienced a decrease in its gross mining revenue over Q1, 2022’s and Q2, 2021’s gross mining revenue totals.
Total gross mining revenue slightly declined to $500,685 CAD in Q2, 2022 vs. the $580,583 CAD that was mined in Q1, 2022. $851,813 CAD worth of Cryptocurrencies was mined in Q2 of 2021. The reduction of the Corporation’s gross mining revenue vs. Q1, 2022’s and Q2, 2021’s recorded totals was mainly attributed to the decline in prices of both Bitcoin and Ethereum, as Bitcoin was previously priced at $56,932 CAD per every one BTC on March 31, 2022 and was then priced significantly lower at $25,468 CAD on June 30, 2022. Ethereum was priced at $4,102 CAD per every one ETH on March 31, 2022 and then was priced significantly lower at $1,374 CAD on June 30, 2022.
The decline in gross mining revenue was also partially attributed to the Corporation’s decision to move some of its key mining production assets from its Canadian based mining facility to its new mining facility in the State of Texas which caused a decline in production. The rational for moving some of the Corporation’s key mining production assets from Canada to Texas is the fact that Texas offers lower utility costs over the Corporation’s Canadian based operations, and the Texas based operations can expand its total electrical capacity to 175 MW vs. Canada which is currently capped at 2 MW. Some of the assets moved to the State of Texas included 200 state-of-the-art Panda GPU Mining rigs. The Corporation acquired these assets in Q3, of 2021 and received the assets in Q4 of 2021 but was hampered by power availability at its Canadian mining facility and the Corporation couldn’t put these assets into operation in Canada hence the Corporation’s expansion into the State of Texas.
Anticipating the drop in valuations of both Bitcoin and Ether, and to minimize losses from the rapid valuation declines, in the month of April, the Corporation elected to sell its Cryptocurrency reserves which had a recorded valuation of $2,678,305 CAD As At March 31, 2022. With the proceeds raised from the conversion the Corporation’s Cryptocurrency reserves into fiat, the Corporation entered into a Joint Venture agreement where it acquired 50% ownership of a state-of-the-art Bitmain Antspace. The Antspace will house 195 S19 Pro+ Hyd (“S19 Hydro”) ASIC Miners which are liquid cooled. The Corporation paid $1,484,760 USD for its portion of the equipment. When activated, the S19 Hydro’s housed in the Antspace will produce a Hashrate of 198 TH/s per unit therefore it is anticipated that the Antbox system will produce 38,610 TH/s / 38.6 PH/s without any optimization(s) which will amount to, based on current market conditions and values, approximately 60 to 64 BTC being mined by the system, per year, of which the Corporation will retain 50% of the mining rewards and the Corporation’s Joint Venture Partner on the Antspace will retain the other 50%. The Corporation also further advanced its R&D efforts with a focus on its Blockchain Engagement Platform BlueskyINTEL (BSI) https://www.blueskyintel.com using a portion of the proceeds raised via the conversion the Corporation’s Cryptocurrency reserves into fiat.
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 proprietary technology solutions. 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 Blockchain industry. The Corporation is poised to capture value in successive phases as this industry continues to scale. For more information please visit Bluesky at: https://www.blueskydigitalassets.com
For further information please contact:
Mr. Ben Gelfand
CEO & Director
Bluesky Digital Assets Corp.
T: (416) 363-3833
E: [email protected]
Mr. Frank Kordy
Secretary & Director
Bluesky Digital Assets Corp.
T: (647) 466-4037
E: [email protected]
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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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/135292
Blockchain
U.S. Factoring Services Market Analysis by Product, Technology, Grade, Application and End-user (2019-2032) – Next-Gen Technologies Drive Surge in Alternative Financing Access for SMEs
Blockchain
Blocks & Headlines: Today in Blockchain – May 12, 2025 | Rootstock, Zimbabwe Carbon Registry, Fastex, 21Shares, The Blockchain Group
Welcome to Blocks & Headlines, your daily op-ed style deep dive into the most pivotal blockchain and crypto stories shaping today’s market. In this edition—May 12, 2025—we cover:
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Bitcoin DeFi Security Strengthens as Rootstock garners 81% of Bitcoin’s hashrate
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Zimbabwe’s Blockchain Carbon Credit Registry aims to restore investor trust
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Token2049 Dubai Highlights spotlight Fastex’s Web3 innovations
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21Shares’ New ETP for Cronos (CRO) bridges traditional finance and DeFi
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The Blockchain Group’s €9.9 M Capital Raise fuels its Bitcoin treasury strategy
Below, each story is summarized with key takeaways and opinion-driven context.
Introduction
Today’s blockchain landscape is defined by two contrasting forces: institutional maturation—as legacy players and governments adopt tokenized assets and infrastructure—and startup-driven innovation—where Web3 pioneers push boundaries in DeFi, NFTs, and on-chain governance. Major trends include:
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Security & Scalability: Layer-2 solutions and cross-chain bridges are gaining traction to secure and scale Bitcoin and Ethereum ecosystems.
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Transparency & Trust: From carbon credits to capital markets, blockchain is repeatedly chosen to enhance auditability and investor confidence.
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Mainstream Access: Crypto ETPs and regulated token offerings are lowering barriers for retail and institutional investors.
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Treasury Management: Public companies are increasingly using Bitcoin and token holdings as strategic assets to hedge against macro volatility.
Let’s unpack today’s five developments and their broader implications.
1. Bitcoin DeFi Security Strengthens with Rootstock’s Hashrate Share
What happened: A new Messari report finds that Rootstock (RSK), Bitcoin’s oldest layer-2 smart-contract platform, now commands 81% of Bitcoin’s total hashrate, up from 56% before major mining pools Foundry and SpiderPool onboarded in February. Transactions on Rootstock are 95% cheaper than on-chain Bitcoin and 55% cheaper than Ethereum, positioning RSK for sustained DeFi growth in 2025.
Source: CoinDesk
Analysis & commentary:
Rootstock’s dominant hashrate share underscores two key shifts:
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Security by Convergence: By leveraging Bitcoin’s massive mining network, RSK mitigates the common 51% risk faced by smaller chains.
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Cost-Efficiency for DeFi: Lower fees make RSK an attractive alternative to Ethereum for yield protocols, lending markets, and decentralized exchanges.
However, challenges remain. Smart-contract developers must integrate robust cross-chain bridges—Rootstock’s partnership with LayerZero is a start—to attract liquidity. Moreover, regulatory scrutiny of DeFi is rising; RSK’s governance will need transparent on-chain dispute resolution and compliance tooling to win institutional adoption.
2. Zimbabwe’s Blockchain Carbon Credit Registry to Revive Investor Confidence
What happened: In Harare on May 9, the Zimbabwean government launched the world’s first blockchain-enabled carbon credit registry, developed by Dubai’s A6 Labs. The immutable ledger will record issuance, trading, and retirement of credits, addressing the fallout from 2023’s abrupt project cancellations and a 50% revenue levy that spooked developers. The new Zimbabwe Carbon Markets Authority (ZCMA) will oversee licensing via the zicma.org.zw portal.
Source: Bloomberg
Analysis & commentary:
Zimbabwe’s registry is an instructive case study in how blockchain can restore transparency and rebuild market trust:
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Immutable Audits: Every credit’s provenance is verifiable on-chain, deterring double-counting and fraud.
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Regulatory Framework: A dedicated authority streamlines approvals, balancing market access with environmental integrity.
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Investor Reassurance: By codifying rules in smart contracts, Zimbabwe signals that future policy shifts will be governed by code, not sudden ministerial edict.
Nonetheless, blockchain is not a panacea. Effective enforcement still depends on reliable on-the-ground measurement and reporting. The real test will be whether smaller African producers—Kenya, Zambia—adopt interoperable registries, creating a pan-continental carbon marketplace.
3. Web3 Innovation Takes Center Stage at Token2049 Dubai
What happened: Between April 30 and May 1, Token2049 Dubai convened industry leaders in the Emirates. Fastex, a platinum sponsor, showcased its Bahamut blockchain (PoSA consensus), the YoWallet custodial solution, and a wave of new apps—YoHealth, YoPhone/YoSIM, YoBlog—all designed to expand Web3 use cases beyond finance. Fastex also co-hosted regulatory forums with Solidus Labs and launched the Bahamut Grants program to seed developer innovation.
Source: Cointelegraph
Analysis & commentary:
Token2049’s Dubai edition highlights an ecosystem maturation where:
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Compliance & Growth Coexist: Legal breakfasts signaled that self-regulation and layered oversight can lower entry barriers without stifling ingenuity.
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Beyond Finance: By unveiling telecom and health apps, Fastex challenges the notion that blockchain is niche—real-world use cases can drive mainstream adoption.
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Brand Ambassadors: Football legend Patrice Evra’s presence at YoHealth’s booth illustrates how cultural icons can amplify blockchain’s reach.
Moving forward, projects must demonstrate measurable end-user utility and scalable infrastructure to avoid the “pilot-only” trap. Dubai’s supportive regulatory sandbox remains an ideal proving ground.
4. 21Shares Launches ETP for Cronos (CRO) – Bridging TradFi and DeFi
What happened: Swiss issuer 21Shares listed a new ETP (CRON) on May 12, offering direct exposure to CRO, the native token of Cronos—a Layer 1 chain built for DeFi, NFTs, and cross-chain interoperability with Ethereum and Cosmos. Investors can now trade CRO through regular brokerages without managing private keys or wallets.
Source: The Paypers
Analysis & commentary:
Tokenizing blockchain assets into regulated ETPs remains one of the most powerful drivers of institutional capital inflows:
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Familiar Interfaces: By packaging CRO as a ticker, 21Shares lowers the learning curve for asset managers and pension funds.
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Regulatory Alignment: ETPs fall under securities law, offering clear governance compared to unregulated spot tokens.
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Ecosystem Growth: Cronos stands to benefit from increased liquidity and brand recognition, which in turn fuels DeFi activity on its network.
ETPs also invite scrutiny: fees, redemption mechanics, and underlying custodial risks must be transparent to preserve investor trust. As competition heats up—with products for BTC, ETH, SOL, and more—issuers will vie on pricing, ease of access, and institutional credibility.
5. The Blockchain Group’s €9.9 M Capital Raise Advances Bitcoin Treasury Strategy
What happened: Europe’s first Bitcoin Treasury Company, The Blockchain Group (ALTBG), completed a €9.888 million capital increase at €1.0932 per share on May 7, 2025. Proceeds will bolster its strategy to accumulate Bitcoin per fully diluted share while expanding consulting and AI-driven blockchain services.
Source: ActusNews via MarketScreener
Analysis & commentary:
The Blockchain Group’s financing round underscores a new corporate paradigm where holding BTC is core to the business model:
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Shareholder Alignment: By tethering equity value to Bitcoin accumulation, management and investors share upside in crypto markets.
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Operational Synergies: Subsidiaries in data intelligence and decentralized consulting can monetize both service fees and on-balance-sheet Bitcoin appreciation.
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Regulatory Compliance: As a publicly listed entity on Euronext Growth Paris, ALTBG navigates EU financial rules, offering a transparent vehicle for crypto exposure.
Yet this approach carries volatility risk: sudden BTC price swings can compress earnings per share and spur shareholder activism. Mitigation strategies—such as hedged derivatives and staggered BTC purchases—will be critical to sustain growth without alarming investors.
Conclusion
Today’s highlights reveal a blockchain industry at once foundational and frontier:
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Security & Scale: Rootstock’s hashrate gains fortify Bitcoin DeFi’s underpinnings.
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Transparent Markets: Zimbabwe’s carbon registry sets a template for blockchain-backed commodity markets.
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Web3 Diversification: Token2049 Dubai shows that true mass adoption demands real-world applications in health, telecom, and beyond.
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Institutional Access: ETPs like CRON democratize token ownership for mainstream investors.
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On-Balance-Sheet Crypto: The Blockchain Group exemplifies the rising class of publicly traded crypto-native firms.
As blockchain extends into supply chains, tokenized securities, and identity, the winners will be those who blend innovative protocol design with pragmatic regulatory alignment. Keep tuning into Blocks & Headlines for tomorrow’s top stories.
The post Blocks & Headlines: Today in Blockchain – May 12, 2025 | Rootstock, Zimbabwe Carbon Registry, Fastex, 21Shares, The Blockchain Group appeared first on News, Events, Advertising Options.
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