DigitalX posts record US$8m first half profit

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DigitalX Limited (DCC) has today reported a record net profit after tax (NPAT) of US$8 million for the six months to 31 December, 2017.

Managing Director, Leigh Travers said revenues were primarily driven by Blockchain and ICO consulting and advisory fees as well as gains in the value of digital assets held by DigitalX.

“For all involved at DigitalX, these results represent the outcome of significant effort over the past 12 months. They reflect the Company’s growing expertise in the Blockchain and digital currency ecosystems,” said Mr Travers.

During the first half of the year DigitalX provided consulting services to some high profile ICOs including Power Ledger, Bankera and Etherparty.

“DigitalX consulted to Blockchain companies around the world that collectively raised more than AUD$300 million during the period. We are pleased to have played an important role in the emergence of ICOs as a mechanism for raising capital for new and exciting technologies.”

“As such, we are excited to be part of the ongoing discussion of the role of ICOs as a compliant capital raising alternative for these technologies,” said Mr Travers.

DigitalX also recorded an increase in the value of its digital assets after the price of cryptocurrencies such as Bitcoin rose to record levels in December.

“We have capitalised on the strength of our technical talent, industry experience and cryptocurrency network to provide high level consulting services to new Blockchain companies seeking advice in this rapidly evolving industry,” said Mr Travers.

Mr Travers noted that DigitalX maintains a strong focus on compliance and developing a recognised presence as a thought leader in cryptocurrency and Blockchain technology applications.

DigitalX is a Blockchain Technology Company with offices in Perth and New York. It provides ICO advisory services, Blockchain consulting services and Blockchain-related software development.