Canadian listed company Ether Capital Q2 financial report: revenue of $1.46 million, holding $118 million in digital assets

Odaily Planet Daily News Canadian listed company Ether Capital Corporation released the unaudited interim consolidated financial report for the three and six months ended June 30, 2023. The main points are as follows: - Net equity value per share to increase from $2.24 on December 31, 2022 to $3.41 on June 30, 2023; - The company's revenue of $1.46 million in the second quarter of 2023, compared to $1.08 million in the second quarter of 2022, an increase of 35%; - The company's operating expenses were $0.84 million in the second quarter of 2023, compared to $1.13 million in the second quarter of 2022, a decrease of 26%; - As of June 30, 2023, the total value of digital assets held by the company was $118 million, compared to $73.1 million on December 31, 2022, an increase of 61% over the six-month period; - Cash and cash equivalents of $1.65 million at June 30, 2023, compared to $2.89 million at December 31, 2022; - The company has no debt as at 30 June 2023, nor at any time during the six-month period; - Basic net income per share of $1.24 in the second quarter of 2023 compared to a basic net loss per share of $1.95 in the second quarter of 2022; - Net income excluding other comprehensive income (OCI) of $9.9 million for the second quarter of 2023, compared to a net loss of $114.7 million excluding other comprehensive income for the second quarter of 2022; - Total company stockholders' equity was $116.5 million as of June 30, 2023, compared to $75.6 million as of December 31, 2022. Additionally, the total revenue for staking Ethereum rewards in Q2 2023 was $1.22 million, compared to $0.69 million in Q2 2022. For the six-month period ending June 30, 2023 staking Ethereum rewards revenue was $2.15 million. The amount of ETH held by the company at the end of Q2 2023 (36,000) is much higher compared to the end of Q2 2022 (20,512 ETH). This is a major factor contributing to the increase in revenue. The company’s average staking yield in Q2 2023 is 5.42%, compared to 4.67% in Q2 2022. (Business Wire)