Mr. Cale Moodie reports

NEPTUNE ANNOUNCES A RECORD NINE MONTHS COMPREHENSIVE NET INCOME OF $24.8 MILLION

Neptune Digital Assets Corp. has released its quarterly condensed consolidated interim financial statements and management discussion and analysis for the nine months ended May 31, 2024.

The financial highlights for the nine months ended May 31, 2024, and the period subsequent to quarter-end up to the date of this news release are as follows:

• Neptune ended the quarter on May 31, 2024, with $57.9-million in assets, an increase of 12 per cent over the prior quarter and a 76-per-cent increase since year-end. The company has no debt.
• Neptune earned total revenues and other income of $2.5-million through bitcoin mining, staking, defi (decentralized finance) and other income-generating activities during the nine-month period ended May 31, 2024.
• Neptune mined $1.5-million of bitcoin during the nine-month period ended May 31, 2024. As of the date of this release, Neptune has a total balance of 345 bitcoin in cold storage. Neptune presently retains all its bitcoin in cold storage and does not engage in active selling or trading.
• Neptune's three largest digital asset holdings as of the date of this release are 345 bitcoin, 31,727 Solana and 185,000 Atom. The company also holds positions in ethereum, Dot, Fantom, Dash, GRT, Ocean and a number of other tokens, as well as an investment in SpaceX valued at approximately $4.1-million.
• Neptune currently maintains a cash and short-term investment balance of $6-million held with Tier 1 Canadian banks.

"Neptune has again shown that our conservative approach to asset management in a volatile space is paying off. Our investments in both SpaceX and discounted Solana tokens have proven to be extremely accretive to the balance sheet while our staking and proof-of-work mining operations continuously grow our bitcoin-focused asset base," stated Cale Moodie, Neptune's chief executive officer. "We look forward to an exciting fall of 2024 and a cryptocurrency resurgence into 2025."

About Neptune Digital Assets Corp.

Neptune Digital Assets is one of the first publicly traded blockchain companies in Canada and is at the forefront of the cryptocurrency and blockchain landscape. Neptune engages in operations across the digital asset ecosystem, including bitcoin mining, proof-of-stake mining, blockchain nodes, decentralized finance (defi), and other associated cutting-edge technology. The company's unwavering commitment to innovation and strategic growth enables Neptune Digital Assets to continually explore new opportunities and maximize value for the company's shareholders.

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