DigitalX Reports A$60.7 Million in September-Quarter Assets

Australian crypto asset manager DigitalX ended the September quarter with A$60.7 million in cash, digital assets and investments, up about A$5.8 million from the prior quarter, while its Bitcoin (BTC) treasury was valued at A$26.5 million.

The treasury included 30 BTC held directly and about A$22.9 million in DigitalX Bitcoin Fund units. Cash and cash equivalents stood at A$32.3 million, and the company had no debt. The increase in cash came mainly from the July sale of 80 BTC and other digital assets.

DigitalX completed an on-market repurchase of 120 million shares, returning A$3.1 million to shareholders. The repurchase price was about 30% below net asset value. The company plans to seek shareholder approval for another 120 million-share repurchase at its Nov. 26 meeting.

After the quarter ended, DigitalX sold about 30 BTC on Oct. 16 at an average price of US$82,000 per coin. Its DigitalX Bitcoin ETF recorded a 42% quarterly return and ended the period with A$45 million in net assets.

DigitalX also plans to continue its A$30 million investment and acquisition program focused on artificial intelligence and blockchain. Shareholders are due to consider the proposed repurchase at the Nov. 26 meeting.