The charge spanned between March and June 2020, when Smith had access to vehicles belonging to a haulage company he worked for.
The court was told of various chats Smith had with associates on EncroChat, including messages about him selling 15kg of cocaine and “wishing” that he had another 50kg to offload.
In one conversation, Smith agreed to buy £385,000 of the drug, although it was unclear if the deal went through.
Prosecutor Bill McVicar added that Smith’s profit margins were about £3,500 per kg at one stage.
There were further discussion about cash and substances used to bulk out drugs for profit. Figures mentioned included £30,000 to be paid to Smith.
Smith’s properties in Lesmahagow in South Lanarkshire and the north-east of Glasgow were later raided.
Officers only found an inoperable encrypted phone and documents related to his finances but evidence implicating Smith came from messages between him and others involved in cocaine dealing.
McVicar said: “The messages indicated that between March 2020 and June 2020, Smith was a wholesaler of cocaine who acquired substantial quantities in bulk and sold on in kilogram quantities with a profit of around £3,500 per kilogram.”