VANCOUVER, British Columbia, Aug. 24, 2021 (GLOBE NEWSWIRE) -- BIGG Digital Assets Inc. ("BIGG" or the "Company")(CSE: BIGG; OTCQX: BBKCF; WKN: A2PS9W), owner of Netcoins (Netcoins.ca) (“Netcoins”), the online cryptocurrency brokerage that makes it easy for Canadians to buy, sell, and understand cryptocurrency, and Blockchain Intelligence Group (blockchaingroup.io) (“BIG”), a leading developer of blockchain technology search, risk-scoring and data analytics solutions, is pleased to report its fiscal Q2 2021 financial results for the three and six months ended June 30, 2021. All figures are in Canadian Dollars (“CAD”) unless otherwise stated.

Q2 2021 Highlights:

• Gross revenue of $4.55M, ~$4.16M for Netcoins and ~$385k for Blockchain Intelligence Group
• Netcoins revenue for Q2 represents ~24% Quarter over Quarter (QoQ) growth, and over ~2000% Year over Year (YoY) growth.
  • Active Users reached ~19,000 during Q2, growing 40% QoQ, and 1880% YoY
  • Registered users exceeded 80,000
  • Gross trading margins in excess of 1.2%
• BIG revenues increased 26% QoQ, and gross margins sat at 87%
• Cash and cryptocurrency in treasury (excluding restricted cash and customer deposits) equaled ~$65 million
• Adjusted EBITDA, net of non-cash expenses, was positive for the quarter

Further Highlights:

• At August 15, 2021, cash and crypto holdings equal ~$71 million
• BIGG currently owns 430.8 Bitcoin, valued at approximately $27.3 million.
• At June 30, the Bitcoin price was USD~$35,000, down roughly USD$23,900 per coin from the Q1 2021 revaluation as at March 31, 2021. The Q2 revaluation resulted in an unrealized net loss of ~$4.5M on crypto inventory holdings. In recent days, Bitcoin has risen to ~$50,000 USD per coin, recovering most of this unrealized loss.

Selected financial and operating information should be read in conjunction with BIGG's unaudited condensed interim financial statements and related Management's Discussion and Analysis for the three and six-month periods ended June 30, 2021, available at www.sedar.com.

All financial information in this press release is prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board.

BIGG CEO, Mark Binns, commented “We are very pleased with our Q2 results - which reflect excellent growth across both Netcoins and BIG. Each company grew revenue by 24% QoQ or better, with margins remaining very strong. We also took advantage of the recent Bitcoin price degradation, adding to our holdings which now sit at 430.8 Bitcoin. We have made minority investments in two solid businesses - Wionder.fi and, of late, Zen Ledger - that boast strong leadership and offer significant growth potential. Netcoins has launched its iOS and Android apps to great reviews and happy customers, making it even easier and faster to trade crypto. We continue to execute on our core business plans. In the second half of 2021 we look forward to continued growth, customer acquisition and product enhancements, as well as partnership expansions.”

On behalf of the Board

Mark Binns
CEO
[email protected]

Investor Relations

Victoria Rutherford
[email protected]
T: 1.480.625.5772

About BIGG Digital Assets Inc.
BIGG Digital Assets Inc. (BIGG) believes the future of crypto is a safe, compliant, and regulated environment. BIGG invests in products and companies to support this vision. BIGG owns two operating companies: Netcoins (netcoins.ca) and Blockchain Intelligence Group (blockchaingroup.io).

Netcoins develops brokerage and exchange software to make the purchase and sale of cryptocurrency easily accessible to the mass consumer and investor with a focus on compliance and safety. Netcoins utilizes BitRank Verified^® software at the heart of its platform and facilitates crypto trading via a self-serve crypto brokerage portal at Netcoins.app.

Blockchain Intelligence Group (BIG) has developed a Blockchain-agnostic search and analytics engine, QLUE^TM, enabling Law Enforcement, RegTech, Regulators and Government Agencies to visually track, trace and monitor cryptocurrency transactions at a forensic level. Our commercial product, BitRank Verified^®, offers a “risk score” for cryptocurrencies, enabling RegTech, banks, ATMs, exchanges, and retailers to meet traditional regulatory/compliance requirements.

For more information and to register to BIGG’s mailing list, please visit our website at https://www.biggdigitalassets.com. Or visit SEDAR at www.sedar.com.

Forward-Looking Statements:
Certain statements in this release are forward-looking statements, which include completion of the search technology software and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, and other factors, many of which are beyond the control of BIGG. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Undue reliance should not be placed on the forward-looking information because BIGG can give no assurance that they will prove to be correct. Important factors that could cause actual results to differ materially from BIGG’s expectations include, consumer sentiment towards BIGG’s products and Blockchain technology generally, technology failures, competition, and failure of counterparties to perform their contractual obligations.

The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, BIGG disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, BIGG undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.

The CSE does not accept responsibility for the adequacy or accuracy of the content of this Press Release.