Fintech firm Digital X has reported a total operating and investing cash flow of $410,000 for the first half of the 2016 financial year on the back of a second quarter increase of 33 percent year-on-year to $746,000.
DigitalBTC, trading as Digital CC, was formerly involved in bitcoin mining, a procedure whereby a company is rewarded with the cryptocurrency for performing calculations that secure the blockchain and confirm the validity of a transaction.Previously, Digital X was listed on the Australian Securities Exchange (ASX) as DigitalBTC, undergoing not only a name change in October, but a shift in business model as well.
However, the company did not ditch the cryptocurrency altogether, spending over $9.54 million on bitcoins and $623,000 on the cost of running and hosting its bitcoin mining equipment in the three months ending December 31, 2015.
Read more @ http://www.zdnet.com/article/bitcoin-market-surge-bolsters-digital-x/
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