BTC

Canadian listed company Ether Capital Corporation announced its unaudited interim consolidated financial performance report for the three months ended March 31, 2023. The company's revenue for the first quarter of 2023 was $1.18 million, compared to $1.2 million for the first quarter of 2022, a decrease of 1%. The company incurred operating expenses of $1.26 million in the first quarter of 2023 compared to $0.80 million in the first quarter of 2022, an increase of 59%. As of March 31, 2023, the total value of digital assets held by companies was $105.5 million, compared to $73.1 million on December 31, 2022, an increase of 44% in three months.
In addition, the firm receives advisory fee income from Purpose Investments that is tied to assets managed by Purpose Investment's crypto ETFs. In Q1 2023, the average Crypto AUM for Purpose is much lower than in Q1 2022. This results in a 51% reduction in consulting fees from $0.45 million in Q1 2022 to $0.22 million in Q1 2023.