Latest news with #DigitalX
Herald Sun
5 days ago
- Business
- Herald Sun
DCC acquires 42,000 Solana tokens at 15pc discount
Don't miss out on the headlines from Stockhead. Followed categories will be added to My News. DigitalX buys $11.6 million of Solana (SOL) at 15 per cent discount to market Staking via BitGo validator network to deliver 7 to 9 per cent yield Company's digital asset treasury tops $78 million Special Report: DigitalX has added more fuel to its blockchain engine, announcing the acquisition of 42,000 Solana tokens (SOL) in a deal worth $11.6 million executed at a 15 per cent discount to market rates. This latest move expands the company's digital asset treasury to $78 million, and forms part of its strategic shift to generate stable, recurring revenue from staking, turning digital assets into a growth engine and not just a store of value. 'This transaction continues our strategic shift towards building a more growth-oriented and yield-generating digital asset treasury,' said Demetrios Christou, Interim CEO of DigitalX (ASX:DCC). 'By acquiring Solana at a meaningful discount while also generating staking rewards, we're positioning the company to benefit from Solana's growing role in the blockchain ecosystem.' Staking the future All 42,000 SOL are staked via BitGo's validator network, delivering a projected 7 to 9 per cent annual yield expected to generate an additional $800,000 per year in revenue for the company. The tokens will vest monthly over a 32-month period, with the full allocation unlocked by January 2028 supporting a long-term strategic position in high-performance blockchain infrastructure. The entire 42,000 SOL will be accruing rewards from June 2025. Building a high-yield, blockchain native treasury DigitalX is the only ASX-listed crypto fund manager and has consistently differentiated itself through its innovative treasury model. The company manages Australia's first spot Bitcoin ETF (ASX: BTXX) and recently expanded staking partnerships with SOL Strategies. With Solana now making up a growing portion of its holdings, DigitalX is reweighting toward blockchains offering stronger revenue generating potential. According to the company, Solana staking rewards are 3x greater than Ethereum's, while Solana's overall network metrics continue to strengthen, including five straight quarters of app revenue growth and seven consecutive quarters of increased transaction activity. 'DigitalX is architecting a treasury model that harnesses Solana's revenue generating potential and anchoring itself with the foundation of Bitcoin's security and resilience,' said Chairman Leigh Travers. 'This strategy is not just about growth. It's a commitment to driving long term value for our shareholders in the digital economy.' Leaner, smarter, yield focused The move follows a string of positive updates from DigitalX in 2025 including: $318,000 in staking revenue in the March quarter A 23 percent reduction in operating costs Strategic partnerships to scale Solana infrastructure With institutional grade custody, a growing treasury, and a differentiated focus on yield bearing digital assets, DigitalX continues to lead Australia's public market exposure to the evolving crypto economy not through hype, but through strategic execution. This article was developed in collaboration with DigitalX, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions. Originally published as DigitalX locks in $11.6m Solana deal to boost staking revenues and long-term yield
News.com.au
22-05-2025
- Business
- News.com.au
Lunch Wrap: ASX wobbles on bond fears but Bitcoin looks spicy on its ‘Pizza Day'
ASX drifts lower as Wall Street wobbles on bond fears Bitcoin rockets past $110k as risk appetite returns on 'Pizza Day' Mayne Pharma sinks again as takeover deal unravels It's one of those mornings where you refresh your trading app and let out a sigh. By lunch time AEST, the ASX 200 index was down 0.55%, a slow bleed that followed a rough night on Wall Street. Investors weren't panicking, just quietly pulling back. The culprit was mainly bonds – a messy US$16 billion auction of 20-year US Treasuries flopped last night, with buyers demanding over 5%, the highest since 2020. Moody's had already slapped a downgrade on US debt, and now Trump's fresh tax-and-spend plan was rubbing salt into the wound. So, Wall Street tumbled. The S&P 500 dropped 1.6%, the Dow shed nearly 2%, and the Nasdaq joined the slide. But while equities were licking their wounds, Bitcoin was charging ahead to new highs. BTC climbed past US$110,000 mark, a fresh all-time high, with its market cap topping USD$2.15 trillion. At the time of writing, however, it's cruising at a US$110,668 altitude. Bitcoin's bull run had kicked off under Trump's crypto-friendly watch, but nearly came off the rails when his trade war with China spooked the market. "However, market concerns have eased following a recent breakthrough in trade negotiations, which includes a 90-day agreement to reduce mutual tariffs," said Alex Nagorskii, Portfolio manager at DigitalX. By the way, for the trivia nerds and crypto tragics, today, May 22, is Bitcoin Pizza Day (Australian time zone edition), marking the moment in 2010 when a bloke swapped 10,000 BTC for two pizzas in Florida. Laszlo Hanyecz posted on a crypto forum and got someone to order him two Papa John's pizzas in exchange for 10,000 BTC, a deal that kickstarted Bitcoin's journey into the real world. It cost him $41. Today, that'd amount to a 1.16 BILLION DOLLAR feed, USD. Call it the most expensive takeaway order in history. Back on home turf, the ASX's mood was mostly glum, but not without a few bright spots in the large caps space. Mining firm Evolution Mining (ASX:EVN) was up 3% after naming ex-BHP heavyweight Frances Summerhayes as its new CFO. Investors seemed to like the idea of an old hand steering the ship. Nufarm (ASX:NUF) kept sliding today, down another 8%, after yesterday's 30% thumping. The wellness and agri firm copped it after slashing its full-year earnings outlook, with half-year profit tanking on the back of weak fish oil prices and rising costs. ASX SMALL CAP WINNERS Here are the best performing ASX small cap stocks for May 22 : Security Description Last % Volume MktCap NWC New World Resources 0.047 66% 169,611,968 $99,155,888 CP8 Canphosphateltd 0.031 55% 625,676 $6,135,211 HTA Hutchison 0.032 52% 607,075 $285,022,680 MRD Mount Ridley Mines 0.003 50% 1,202,236 $1,556,978 CRB Carbine Resources 0.004 33% 100,015 $1,655,213 SHP South Harz Potash 0.005 25% 1,029,710 $4,410,915 HMD Heramed Limited 0.011 22% 2,974,676 $7,880,425 D3E D3 Energy Limited 0.073 22% 8,157 $4,768,500 SKS SKS Tech Group Ltd 1.860 22% 687,045 $172,996,915 AUN Aurumin 0.080 21% 3,125,096 $32,621,170 AI1 Adisyn Ltd 0.069 21% 2,097,330 $41,218,159 GBE Globe Metals &Mining 0.029 21% 110,000 $16,671,672 POD Podium Minerals 0.030 20% 2,482,963 $17,035,265 OMA Omega Oil and Gas 0.250 19% 788,569 $72,056,713 HIO Hawsons Iron Ltd 0.016 19% 8,106,072 $13,722,768 THB Thunderbird Resource 0.013 18% 4,333,234 $4,067,156 STM Sunstone Metals Ltd 0.017 18% 21,182,457 $83,788,251 WEC White Energy Company 0.033 18% 100 $8,725,357 ADX ADX Energy Ltd 0.035 17% 178,262 $17,279,182 FNR Far Northern Res 0.140 17% 60,062 $4,831,899 CRR Critical Resources 0.004 17% 332,089 $7,842,664 GTR Gti Energy Ltd 0.004 17% 132,430 $8,996,849 LSR Lodestar Minerals 0.007 17% 692,857 $1,910,543 OVT Ovanti Limited 0.004 17% 1,750,015 $8,380,545 Hutchison Telecom (ASX:HTA) says it's received a takeover offer from its major shareholder, HTABV, which already owns nearly 88% of the company. HTABV wants to buy the rest at 3.2 cents a share. HTA's independent board committee is still weighing up the offer and is telling shareholders to take no action for now. A full response, including an independent expert's report, will land once the offer formally opens by 5 June. SKS Technologies (ASX:SKS) has landed a massive $100 million job to kit out a new data centre in Melbourne's west for a global tech giant. It's the third building it's worked on at the site, after already delivering Buildings A and B for the same client. With this deal, SKS now has $220 million worth of work on the books, and says the pipeline's still looking strong, with nearly half a billion bucks' worth of jobs currently up for grabs. Omega Oil & Gas (ASX:OMA) says fresh results from its Canyon-2 well have confirmed a large oil and gas system in Queensland's Taroom Trough, strengthening the case that it's sitting on a serious commercial logging has revealed thicker and better-quality reservoir zones than first thought, with both oil and gas intervals now clearly identified. Hawsons Iron (ASX:HIO) says fresh test work has backed its plan to use 100% dry processing at its NSW project, a cleaner, cheaper alternative to the traditional wet method. The independent report from Stantec confirms the dry circuit is not only viable but also cuts costs and improves environmental outcomes. It's also opened the door to potential side products like silica sand. And, Novonix (ASX:NVX) also surged ahead, thanks to a bit of geopolitical tailwind from across the Pacific. With the US planning tariffs on Chinese graphite, Novonix, who makes the stuff for lithium batteries, says it is in a pretty enviable spot. ASX SMALL CAP LOSERS Here are the worst performing ASX small cap stocks for May 22 : Code Name Price % Change Volume Market Cap CT1 Constellation Tech 0.001 -50% 200,000 $2,949,467 BP8 Bph Global Ltd 0.002 -33% 467,992 $3,152,954 AAU Antilles Gold Ltd 0.003 -25% 685,000 $8,505,471 SFG Seafarms Group Ltd 0.002 -25% 2,594,198 $9,673,198 SIS Simble Solutions 0.003 -25% 200,123 $3,505,321 TMK TMK Energy Limited 0.003 -25% 4,790,121 $40,889,532 VTM Victory Metals Ltd 0.770 -25% 1,361,615 $112,240,282 RMI Resource Mining Corp 0.020 -23% 5,669,639 $17,300,549 EQR Eq Resources Limited 0.038 -22% 640,448 $115,641,590 AQX Alice Queen Ltd 0.004 -20% 891,321 $5,734,450 ASR Asra Minerals Ltd 0.002 -20% 90,909 $6,916,340 PFT Pure Foods Tas Ltd 0.016 -20% 212,102 $2,708,512 ROG Red Sky Energy. 0.004 -20% 3,511,822 $27,111,136 DUB Dubber Corp Ltd 0.014 -18% 22,185,621 $44,597,247 CCO The Calmer Co Int 0.003 -17% 51,847 $9,033,947 RC1 Redcastle Resources 0.005 -17% 2,945,771 $4,461,401 1AI Algorae Pharma 0.006 -14% 500,000 $11,811,763 FME Future Metals NL 0.012 -14% 1,176,821 $10,063,209 MVL Marvel Gold Limited 0.012 -14% 623,615 $15,116,337 TMS Tennant Minerals Ltd 0.006 -14% 904,357 $6,691,233 TSL Titanium Sands Ltd 0.006 -14% 34,502 $16,357,230 EMN Euromanganese 0.190 -14% 448,789 $8,922,448 CR1 Constellation Res 0.130 -13% 81,001 $9,455,884 PCL Pancontinental Energ 0.010 -13% 12,856,199 $93,570,737 Mayne Pharma (ASX:MYX) continued its nosedive,falling another 3% after a regulator query over whether it had kept shareholders properly informed. This followed a 30% plunge yesterday. The selloff on Mayne was triggered by US-based Cosette Pharmaceuticals reconsidering its $672 million acquisition of Mayne, citing a "material adverse change" in Mayne's business and finances. This reevaluation came after Mayne issued weaker-than-expected earnings guidance and disclosed a potential US regulatory issue with one of its key products. IN CASE YOU MISSED IT Dimerix (ASX:DXB) has received the greenlight to continue its ACTION3 clinical trial unchanged, after the completion of a sixth independent data monitoring committee review. The IDMC said there were no safety concerns to date, with the next scheduled meeting planned for the fourth quarter of 2025. 'This encouraging recommendation of the IDMC confirms the strong emerging safety profile of DMX-200 and suggests that DMX-200 does not add a burden of side effects to patients, compared to commonly used treatments such as high dose steroids and immunosuppressants,' Dimerix chief medical officer Dr David Fuller said. At Stockhead, we tell it like it is. While Dimerix is a Stockhead advertiser, they did not sponsor this article.
