DCC 21.7% 5.6¢ digitalx limited

Please tell me how an increase in the price of bitcoin can...

  1. 104 Posts.
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    Please tell me how an increase in the price of bitcoin can result in a 10,000 x gain for this stock.

    It currently has a 33.5M market cap and if you check the prospectus for where they spent the 9 million initial shareholders investment, all the company had was about 4 million dollars of mining equipment and some well paid directors. They had little funding for any serious software development. The 4 million in mining hardware has probably been marginally profitable or un-profitable at this price once you factor in electricity costs and hardware depreciation costs.

    Overall buying this stock at a 33.5 million dollar market cap is a really expensive way to own 4 million or so of mining hardware. Given the management expenses of running this company and the cash they had I expect they will have burnt through the remaining cash in the next 12 months. The price should then rapidly go to zero.
 
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Last
5.6¢
Change
0.010(21.7%)
Mkt cap ! $48.51M
Open High Low Value Volume
5.0¢ 5.7¢ 4.8¢ $257.3K 4.825M

Buyers (Bids)

No. Vol. Price($)
1 25000 5.2¢
 

Sellers (Offers)

Price($) Vol. No.
5.6¢ 65116 3
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Last trade - 16.10pm 03/05/2024 (20 minute delay) ?
Last
5.6¢
  Change
0.010 ( 19.2 %)
Open High Low Volume
4.8¢ 5.7¢ 4.8¢ 1151169
Last updated 15.59pm 03/05/2024 ?
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