BTCWF, a subsidiary of Bluesky Digital Assets Corp. (CSE: BTC) (CSE: BTC.PR.A), announced today that the Corporation mined a total of $407,175 CDN in implied and unaudited cryptocurrencies in August (“ETH”). More specifically, implied valuations are based on the booking price of the virtual associated cryptocurrency value at the time the Corporation realises the mining reward from its mining activities.
In August, Bitcoin had an implied value of $207.467 CDN, while Ethereum had an implied value of $199.708 CDN for the same period in 2017. In August, the Corporation mined an average of 1.66 ETH and 0.11 BTC per day, according to its statistics. In terms of mining percentages, BTC and ETH were split fairly evenly, with 50.1 percent each. In August, approximately $75,000 CDN was spent on the costs of mining 3.43 BTC and 51.57 ETH.
The Corporation’s active mining operations generated an average daily revenue of $13,134 CDN in August, a 28.7 percent increase from $10,200 CDN in July.
The Corporation held 1,457,182 CDN in unsold cryptocurrencies at the end of August 2021, up from $309,659 CDN at the end of Q2 2021. As The reserve was 9.115 BTC and 190.07 ETH at the end of August 2021, respectively.
According to Ben Gelfand, CEO
The corporation needs to mine an additional $285, 000 CDN in September to reach $1 million CDN in cryptocurrency mining in Q3. The Corporation’s management team expects to mine an additional $285K CDN worth of cryptocurrencies in September. If this goal is met, it will be the first time in the Corporation’s history that mining operations have generated $1 million CDN. Some of the quarterly and monthly increases can be attributed to internal efficiencies and in-house production methods. This team is working hard to capitalise on current market trends and increase the Corporation’s cryptocurrency reserves that have not yet been sold.
Bluesky Digital Assets Corporation specialises in digital assets
Bluesky Digital Assets Corporation is establishing a high-value digital currency business. Bluesky develops technology services that add value to the digital currency market, such as proprietary solutions, while mining digital currencies such as Bitcoin and Ether. Bluesky, which provides a complete ecosystem of value creation, intends to reinvest a portion of its digital currency mining profits back into its operations in order to continue to grow. It will be used to create a proprietary artificial intelligence-based technology.