Ace Digital AS Posts Record Q3 Profit, Bitcoin Holdings Drive Treasury Growth

Ace Digital AS (ACED) has reported a significant Q3 profit of NOK 6.32 million, with no debt on its balance sheet. This marks a notable improvement from previous periods, with equity rising by 19.3% to NOK 39.09 million. The company's Bitcoin Treasury NAV also saw a substantial increase of 373% to NOK 4.27 million, driven by appreciation in the value of its Bitcoin holdings.

Notably, Ace Digital AS has not purchased any new Bitcoin, yet its estimated BTC exposure has risen to approximately 57 BTC. This suggests that the company's existing Bitcoin holdings have significantly contributed to its treasury performance.

The company's operating costs have also decreased by 43% compared to the first half of the year, which has likely boosted its profitability and cash runway.