digitalBTC: Update: (DCC:ASX) generated total revenue of US$14.5m for the six months to 31 December 2014 with a net loss of US$2.3m. We estimate underlying EBITDA, excluding non-cash accounting adjustments was US$0.86m, with the decline in the Bitcoin price during the period significantly impacting operating margins. We have reviewed our estimates and our base case valuation to $0.36/share. However, as digitalBTC successfully rolls out its suite of Fin-Tech applications, as we have attempted to value in our upside valuation, we would then expect to incorporate these into base case.
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DCC Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held
