Australia's Simble Solutions drops as software firm incurs loss on digital asset sale

Simble Solutions

05/09/2025 03:28

** Shares of Simble Solutions SIS.AX fall as much as 20% to A$0.004, their highest level since August 29

** Stock on track for its weakest session since August 15, if current trends hold

** The energy and sustainability software co says it sold all of its Bittensor (TAO), and will no longer be acquiring digital assets as part of its treasury strategy

** TAO is a decentralised AI network, digital currency

** Co says it sold all of its TAO holding at a price of A$490.78 per TAO for ~A$190,000 ($123,462) (before costs), resulting in a loss of ~A$10,000 (before costs)

** About 4.3 million shares change hands, 1.5x 30-day average volume

($1 = 1.5389 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru)

 ((Sherin.Sunny@thomsonreuters.com))