Bluesky Digital Assets Corp (OTCMKTS:BTCWF) Stock Consolidates After The Recent Fall

Bluesky Digital Assets Corp (OTCMKTS:BTCWF) stock continues to trend lower in the previous trading and extended its monthly fall to 52%.

Market Action

On Thursday, BTCWF closed down 2.50% at $0.2212. More than 77k shares have exchanged hands, below its average volume of 43K shares. The stock opened at $0.2273 and moved in a range of $0.2120 – 0.2313.

Bluesky Achieves Corporate Record of $1,044,000 CDN Mined In Quarter, Provides Q3 Snapshot

Here are the highlights:

Bluesky Digital Assets announced today that the Corporation had mined an implied and combined unaudited total of $1,044,277 CDN worth of cryptocurrencies in Q3 via the mining of 9.25 Bitcoin (“BTC”) and via the mining of 160.75 of Ethereum (“ETH”). For further clarification, implied valuations are based on the booking price of the virtual associated cryptocurrency value at the time the mining reward is realized by the Corporation from its mining activities.

The implied valuation of BTC amounted to $483,859 CDN and the implied valuation of ETH amounted to $560,418 CDN in Q3. The Corporation averaged a daily mining rate of approximately 1.75 ETH and 0.10 BTC per day in Q3. The percentage split on mining was 46% BTC and 54% ETH. Costs associated in the mining of the 9.25 BTC and 160.75 ETH for Q3 amounted to approx. $183,000 CDN.

The Corporation achieved an average of $11,351 CDN in gross mining revenue per day from its active mining operations in Q3 vs. a $9,360 CDN per day average that was achieved in Q2, which represented a 21% increase over Q2’s corresponding results.

Key Quote:

Ben Gelfand, CEO stated: “Q3 2021 was the first quarter ever in the Corporation’s history where the Corporation mined $1M+ CDN of cryptocurrencies. The Corporation is in the process of strategically acquiring additional mining hardware to fully utilize available capacity and continue to increase exponentially future quarterly and ongoing revenue returns.”

Trader Notes:

BTCWF stock has underperformed recently with a fall of over 71% in the past 6-month. On the technical basis, the stock is trading below its 50-day and 20-Day SMA stand at $0.3884 and $0.3671 respectively. Moreover, RSI at 30 signals that the stock is trading near the oversold zone.