KR1 PLC (AQSE:KR1) told investors it is witnessing unprecedented usage of blockchain networks and increasing allocations by institutional investors into digital assets and expects these trends to continue.
The company, in its interim results statement released on Thursday evening, said it expects further clarifications from regulators on cryptocurrency and digital assets, though it is confident permission-less, open-source, decentralised technologies will continue to proliferate globally.
As an investment company focussing on digital assets KR1 believes it is in a very strong position to the end of the 2021 financial year.
In the results statement, the company increased its net current assets over the period by 1,208% to £105.7mln at the end of June, with the per share net asset value marked at 80.3p.
KR1 generated some £5.47mln from staking activities during the six month period.
“The first half of the year was very positive for the company, our long-term strategic commitment to digital assets and the crypto space continues to serve us well, resulting in a significant increase of our net current assets to £105,736,099,” the company said.
“We have also recently seen a major acceleration in the adoption of decentralised technologies, ensuring a full pipeline of innovative and disruptive projects.”
KR1 added: “As we look ahead, we are excited about the significant investment opportunities available to the company.
“We remain confident that KR1’s portfolio performance and its ability to generate strong revenues from staking activities will continue to deliver consistent shareholder returns.”