Coinsilium Group (COIN) H2 2024 earnings summary

Executive summary

• Revenue declined sharply to £6,000 for 2024 from £37,250 in 2023, with a total comprehensive loss of £987,747, up from a £660,684 loss in the prior year.

• The year saw a strategic pivot towards a Bitcoin-focused treasury model via the launch of Forza (Gibraltar) Limited, reflecting market trends and institutional interest in Bitcoin.

• Significant post-year-end fundraising raised over £8.75 million to support the new treasury strategy and ongoing investments.

Financial highlights

• Net fair value loss on financial assets was £138,288 in 2024, compared to a £17,289 gain in 2023.

• Administrative expenses were £963,800, consistent with £896,246 in 2023.

• Cash and cash equivalents at year-end were £286,999 (2023: £283,757).

• Financial assets at fair value through profit or loss stood at £1,949,242 at year-end (2023: £2,162,782).

• Loss per share was 0.46p (2023: 0.35p).

• Gains on revaluation of cryptocurrencies held as other current assets were £252,364 (2023: £191,791).

Outlook and guidance

• The company is intensifying its focus on Bitcoin treasury operations through Forza, aiming to scale Bitcoin holdings and attract institutional capital.

• The core business as a digital asset investor and advisor remains, but with enhanced emphasis on Bitcoin as a strategic reserve.

• Anticipates meaningful value creation from investments such as Yellow Network, with a major token launch expected in 2025.