ACED: Ace Digital – Q3 2026 Update

During Q3, Ace Digital generated a net profit of NOK 6.32 million. Equity increased 19.3% to NOK 39.09 million, and the company ended the quarter debt-free.

Unaudited trading update for the three months ended 30 September 2026.

Bitcoin Treasury NAV increased 373% without buying Bitcoin. Ace Fund continued to outperform Bitcoin since inception, cash distributions from preferred securities increased, and operating costs declined.

Q3 2026 Highlights

• Q3 profit of NOK 6.32 million
• Equity increased 19.3% to NOK 39.09 million
• Debt reduced to zero
• Bitcoin Treasury NAV increased 373%, without buying Bitcoin
• Estimated economic Bitcoin exposure combined approximately 57 BTC
• Ace Fund +23.1% since inception November 2025 vs Bitcoin −23.7%
• NOK 0.84 million in cash distributions from MSTR preferred securities
• Operating costs NOK 1.06 million, 43% below the H1 quarterly pace
• Net cash and short-term liquid investments, excluding Bitcoin, NOK 27.7 million

Value Development

The deferred tax asset remains unchanged from year-end and will be reassessed in connection with the audited annual accounts. No premium or goodwill is attributed to subsidiaries or new business initiatives.

Bitcoin Treasury

Bitcoin Treasury NAV increased from NOK 0.90 million to NOK 4.27 million during Q3, an increase of 373%, without buying Bitcoin. Measured in Bitcoin, Treasury NAV increased from 1.55 BTC to 5.32 BTC, an increase of 243%. Net option delta at quarter-end represented approximately 45 BTC, bringing estimated economic Bitcoin exposure from the Treasury Strategy to approximately 50 BTC.