16 June 2014
WORLD'S FIRST BITCOIN FOCUSED COMPANY TO LIST ON A MAJOR EXCHANGE COMMENCES TRADING
Digital CC Limited (trading as digitalBTC) (ASX: DCC) (the "Company" or "digitalBTC") is pleased to announce that it is now the world's first Bitcoin focused company to commence trading on a major stock exchange, following the reinstatement to quotation on the Australian Securities Exchange on Monday 16 June 2014. Shares in digitalBTC trade under the ASX code "DCC" (Reuters: DCC.AX, Bloomberg: DCC:AU).
Since first announcing digitalBTC's intention to list via a reverse takeover process in mid- March 2014, the company has achieved the following:
Receipt and installation of US$4,000,000 in state of the art BitFury Bitcoin mining hardware
Subsequent digitalBTC mining operations 1 have earned in excess of 5,100
bitcoins to 10 June 2014 and are continuing to perform solidly
Established trading desk revenues with returns of 34% to 31 May 2014, up from
31% at 30 April 2014
Successful capital raising of A$9,100,000 at A$0.20 per ordinary share
Ongoing development of Bitcoin retail consumer product line
digitalBTC's Executive Chairman, Mr Zhenya Tsvetnenko, said that he was very pleased with the extensive progress made to date including the finalisation of the listing process.
"We've made a great start for digitalBTC, aggressively expanding our early Bitcoin focused operations and achieving some very good results - we are now one of the largest Bitcoin miners in the world. In reaching this status, we are fortunate to have partnered with some of the leaders in the Bitcoin space such as the BitFury Group whose cutting edge technology and outstanding service has made it possible for us to generate exceptional returns," Mr Tsvetnenko said.
"What we really look forward to now is generating success from development of our Bitcoin retail consumer product line, as digital currencies such as Bitcoin continue their explosive growth. Our successful early operations growth positions us well to support our future
1 Bitcoin mining is the term used to describe the process of earning new Bitcoins, which can then be converted to any major currency. The process involves using powerful, cutting edge computer technology to provide a service
to the Bitcoin network of verifying Bitcoin transactions. New Bitcoins are created and assigned by the Bitcoin network to the providers of verification services, such as digitalBTC.
For further information, please contact:
development activities in the digital currency sector and I look forward to the updates we can bring shareholders and the market in the coming months," Mr Tsvetnenko said.
Zhenya Tsvetnenko Executive Chairman Tel: +61 8 9473 2525
Tel: +1 (646) 374-1818 (x) 1010
Shane Murphy, FTI Consulting
Direct: +61 8 9485 8804
Mobile: +61 420 945 291