Mr. Dan Reitzik reports

BIGG DIGITAL ASSETS INC. REPORTS AUDITED FINANCIAL RESULTS FOR 2023

Bigg Digital Assets Inc. has released its fiscal 2023 financial results.

2023 highlights:

• Gross operating revenue of $6.5-million, comprising $4.99-million for Netcoins and $1.5-million for Blockchain Intelligence Group;
• Despite difficult market conditions for most of 2023:
  • Netcoins revenues were $4.99-million (2022: $5.44-million), down only 8 per cent year over year, and its margin rate was up at 1.73 per cent (2022: 1.29 per cent):
    • Fourth quarter 2023 transactional revenues increased by 70 per cent over third quarter 2023 and 149 per cent over the comparative Q4 2022 period, marking a positive market shift largely driven by the price appreciation of bitcoin and speculation on the launch of United States-based spot BTC exchange-traded funds, which occurred in early January, 2024;
    • Netcoins launched its dedicated OTC trading desk in Q4 2023, which traded over $22-million in volume and contributed to over $150,000 worth of revenue.
  • Netcoins active users totalled approximately 32,566 (2022: 48,547), marking a 33-per-cent decrease year over year due to the market downturn; however, in Q4 2023, active users rose by 9 per cent over the prior quarter to 8,645 (Q3 2023: 7,905), marking a decrease of just 5 per cent as compared with the number of active users in Q4 2022; this upward trend in the number of active users began in the second half of 2023, with an increase in activity and overall improved sentiment in the crypto market particularly at the end of 2023;
  • Blockchain Intelligence Group revenues were $1.5-million (2022: $2.0-million), down by 26 per cent YoY with a consistent margin rate of 83 per cent (2022: 82 per cent):
    • Q4 2023 revenues decreased slightly from the prior month, down by 2 per cent at $378,537 (Q3 2023: $386,312); however, higher margins and lower costs of sales during the quarter resulted in an overall net increase of 20 per cent;
  • Acquired the remaining approximately 70 per cent of TerraZero Technologies Inc. through a business combination at the end of September, 2023;
• As of Dec. 31, 2023, Bigg's cash and crypto holdings were approximately $14.7-million;
• The company has no debt.

Further highlights:

• Bigg currently owns approximately 94 bitcoin, valued at $8.1-million.
• Bigg's current treasury of fiat and crypto assets is valued at over $23-million, inclusive of Netcoins' float of approximately $8.9-million.
• Netcoins currently has customer assets under custody of approximately $115-million.
• Netcoins is currently focused on its Canadian Investment Regulatory Organization application and U.S. market expansion.
• Blockchain Intelligence Group initiated to source partners to integrate and apply artificial intelligence and machine learning training models to leverage its proprietary data aggregated by Blockchain Intelligence Group over the past eight years relating to bitcoin, ethereum and 15 other blockchains.
• Blockchain Intelligence Group's compliance suite (Qlue and BitRank) now supports 17 blockchains, hosting over 47 billion unique blockchain data points, 6.9 million tokens and non-fungible tokens, with more blockchains being implemented.
• In 2023, Bigg weathered a down market, cutting costs to improve its bottom line and increase resiliency to market conditions. In 2024, Bigg is targeting go-to-market products and services that were built in 2023.

Selected financial and operating information should be read in conjunction with Bigg's audited consolidated financial statements and related management's discussion and analysis for the year ended Dec. 31, 2023, available at SEDAR+.

All financial information in this press release is prepared in accordance with international financial reporting standard accounting standards as issued by the International Accounting Standards Board.

Dan Reitzik, interim chief executive officer, commented: "Two thousand twenty-three was a transitional year for crypto as bitcoin traded fairly flat until Q4, and investors and traditional finance started gearing up for the launch of U.S. ETFs in early 2024. Throughout 2023, Bigg significantly trimmed expenses at both Blockchain Intelligence Group and Netcoins, and acquired TerraZero, giving real-world use cases for both Bigg and Netcoins. [In first quarter] 2024, we are starting to see the results of both the cost-cutting, but more so the growth of Netcoins in terms of significantly increasing revenues, trading volumes, new products and new clients. Blockchain Intelligence Group will be expanding the markets it services through 2024. We're excited about launching new products this year, aimed at retail users and crypto trading platforms. TerraZero continues to develop its proprietary Intraverse platform with beta clients, including Napster, Warner Records, and others spanning across [consumer packaged goods], cosmetics and gaming, and we expect the highly scalable commercial and consumer versions to fully deploy later this year."

About Bigg Digital Assets Inc.

Bigg believes the future of crypto is a safe, compliant and regulated environment. Bigg invests in products and companies to support this vision. Bigg has three portfolio companies: Netcoins, Blockchain Intelligence Group and TerraZero.

Blockchain Intelligence Group is an industry-leading digital asset forensics, anti-money-laundering detection and cryptocurrency investigation company. At the heart of its operations is a deep-rooted expertise in visualizing digital assets and market-related activities. This expertise is leveraged to monitor transactional data with a constant eye to assisting its customers with risk management, due diligence and forensic services for digital assets.

Netcoins offers secure crypto trading in Canada and the United States, with a mission to make crypto trading easy. Netcoins has a robust product offering with over 40 assets for crypto trading, Netcoins Pay MasterCard and staking (Canada only). Netcoins facilitates crypto trading through its cutting-edge mobile and Web applications and through its OTC trading desk.

TerraZero is a vertically integrated metaverse development group and leading Web3 technology company, specializing in helping brands create immersive experiences. TerraZero's metaverse-agnostic vision is to develop and implement products and services with scalable commercial applications to flourish engagement across gamified experiences where enterprise-level businesses, metaverse platforms and Web3 creators can seamlessly bridge and actionably build their virtual world and the physical world endeavours together as one. TerraZero owns digital real estate for brands to establish a presence in existing virtual worlds and can also offer brands their own private worlds to provide offices and services to those interested in the metaverse. Furthermore, TerraZero acquires, designs, builds and operates virtual assets and solutions to monetize the metaverse ecosystem. TerraZero's businesses are segmented into five divisions, which include: (1) immersive experience creation in existing or private virtual worlds; (2) advertising; (3) data analytics; (4) events and marketing; and (5) development of the intraverse. TerraZero aims to support the community, foster innovation and drive adoption.

We seek Safe Harbor.