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Highlights
- BIGG Digital Assets Inc (CSE: BIGG), a Canadian crypto company, saw its stocks surge by more than 65 per cent on Monday, February 7.
- The Vancouver-based company is known to engage in cryptocurrency-oriented products and businesses.
- The crypto stock has surged by about 126 per cent in the past year.
BIGG Digital Assets Inc (CSE: BIGG), a Canadian crypto company, saw its stocks surge by more than 65 per cent on Monday, February 7.
The Vancouver-based company is known to engage in cryptocurrency-oriented products and businesses. Its stocks are listed on the Canadian Securities Exchange (CSE).
BIGG Digital is said to function via two distinct divisions, which include developing blockchain technology and the sale of digital currencies.
Why is BIGG Digital (CSE: BIGG) stock trending?
In general, company-related announcements, major economic developments or sector/industry-centric events are known to trigger massive surges or declines in a stock’s performance.
Company-wise, BIGG Digital Assets does not seem to have made any major announcements this month yet. One of its latest release, dated January 20, noted that its subsidiary Blockchain Intelligence Group saw a top line surge of 114 per cent year-over-year (YoY) in Q4 2021.
The crypto industry, as a whole, saw a positive day on Monday as major digital coins like Bitcoin (BTC) and Ethereum (ETH) reflected notable 24-hour surges in their value.
Also read: Can MakerDAO’s MKR crypto touch $4,000 by the end of 2022?
BIGG Digital Inc stock performance
BIGG stock stood at a value of C$ 1.47 apiece on Monday, having climbed by over 41 per cent this year.
The crypto stock has surged by about 126 per cent in the past year.
Image credit: © 2022 Kalkine Media®
Also read: CFVI Stock Soars 18%: Is Rumble Going Public Causing This SPAC To Rise?
BIGG Digital Inc latest financials
The Canadian crypto firm, on January 19, reported that its gross operating revenue grew by a whopping 238 per cent YoY to C$ 3.3 million in the fourth quarter of 2021, with about C$ 2.85 million of it coming from subsidiary Netcoins.
Netcoins, which is an online cryptocurrency brokerage platform, also saw its top line expand by 259 per cent (YoY) in the latest quarter, while its active users base grew by 52 per cent from the previous quarter.
On an annual basis, BIGG Digital saw its revenue inflate by 463 per cent YoY to about C$ 14.2 million.
Netcoins, on the other hand, saw its full-year top line catapult by 717 per cent YoY to C$ 12.6 million in 2021, while that of Blockchain Intelligence Group grew 62 per cent YoY to C$ 1.6 million.
BIGG Digital also noted in its latest financial report that its cash and cryptocurrency holdings, as of January 17 this year, stood at about C$ 62 million.
Bottomline
The Vancouver-based crypto player clarified in its latest earnings report that it had “no debt” as of January 17, 2022, while its holdings grew to include 500 BTC worth a value of about C$ 26.8 million (minus customer assets).
Company CEO Mark Binns noted that BIGG Digital is interested in seeing new marketing, product launches, etc in 2022, while also investing in more crypto firms.
If all goes as it plans, BIGG Digital could make more noise in the crypto industry going forward.
