KR1 PLC (AQSE:KR1) said it has consistent revenue from staking activities in a statement released after its annual general meeting on Tuesday, during which all resolutions were passed.
The company's managing directors, George McDonaugh and Keld van Schreven, highlighted their belief that the investment case for digital assets remains strong despite continued expected deteriorating market conditions.
"While overall portfolio asset prices remain depressed, revenue from staking activities, a core part of the Company’s strategy, has been consistent throughout the period, providing a reliable source of income to the Company while protecting underlying assets from being diluted," they said.
Regulatory uncertainty and the volatile global macroeconomic environment were given as reasons for the current conditions, but the directors outlined how the market is being propped up by continued blockchain technological innovation and institutional buy-in.
They said “the company has been active in the Ethereum, Polkadot and Cosmos blockchain communities."
“We continue to explore seed and early-stage investment opportunities, as valuations for early-stage funding rounds normalise in line with the progression of the ‘bear market’, and have been introduced to a wave of innovative new projects, which are yet to hit the market," they concluded.