BTCS Inc. - BTCS STOCK NEWS

BTCS reported a revenue increase of 83% to $1.4 million for the first nine months of 2022, but experienced a 33% revenue decline to $0.3 million in Q3 compared to Q2 due to depressed Digital Asset prices. The net loss for Q3 was $1.0 million, significantly improving from $7.7 million in Q2. Digital Asset impairment charges dropped to $145,000 in Q3 from $8.9 million in Q2. The fair value of Digital Assets rose 24% to $14.8 million by September 30, 2022. Management emphasized their focus on next-gen blockchains and the Staking market.

BTCS (Nasdaq: BTCS) announced an upcoming Ask Me Anything (AMA) session on October 25, 2022, hosted by CEO Charles Allen. This event will provide updates on the company's recent activities and its Staking-as-a-Service platform. The AMA starts at 5:00 PM Eastern Time and aims to engage directly with investors, partners, and customers. Allen expressed excitement about this interaction and is prepared to answer questions during the 60-minute session. A replay will be available post-event. BTCS focuses on blockchain infrastructure and technology.

BTCS announced a strategic investment of $100,000 in GlobexUS Holdings Corp, the parent company of Horizon Globex GmbH, a key technology provider for the Upstream exchange. This investment highlights BTCS's commitment to blockchain technologies and their potential for innovative trading. Upstream, the first securities exchange built on Ethereum, aims to enhance direct access for companies to a global crypto-savvy investor base. The platform also facilitates improved shareholder experiences, such as in-app proxy voting and digital dividend payments.

BTCS, a blockchain technology company, announced that CEO Charles Allen will be featured on The Big Biz Radio Show on October 11, 2022. The discussion will focus on recent corporate developments and the upcoming Staking-as-a-Service platform. BTCS is recognized as a pioneering player in the blockchain infrastructure sector, actively validating transactions and developing a platform to enhance user engagement with supported cryptocurrencies. The Big Biz Show has a national reach of 1.7 million listeners, providing a significant platform for BTCS to showcase its innovations.

BTCS Inc. (Nasdaq: BTCS) has appointed Melanie Pump as an independent director to its Board. Pump, who is currently the Chief Financial Officer at Polymath Research Inc., brings extensive experience from previous roles, including CFO of Brane Inc. and Incognito Software Systems. CEO Charles Allen expressed confidence in her capability to enhance shareholder value as BTCS prepares to launch its Staking-as-a-Service platform, which is aimed at expanding its blockchain technology offerings. The company is also focused on providing innovative solutions in the digital asset ecosystem.

BTCS Inc. (Nasdaq: BTCS) reported that Ethereum's Merge enhances its operational value by increasing ETH rewards and potentially driving revenue growth. The company currently operates 240 validator nodes and has staked over 8,350 ETH. CEO Charles Allen highlighted that the transition to Proof-of-Stake (PoS) improves scalability and energy efficiency by 99.95%. The Merge shifts transaction fees to validators, which could benefit BTCS financially. This strategic positioning aligns the company with Ethereum's greener future, as it continues to secure and validate blockchain transactions.

BTCS, a blockchain technology company, will host a Closing Bell webinar on its Staking-as-a-Service platform on September 15, 2022, at 4:00 PM ET. Interested participants can register at the provided link. The company specializes in securing Proof-of-Stake blockchains and is developing a proprietary platform for cryptocurrency staking. BTCS is the first publicly traded company in the U.S. focused on blockchain infrastructure, supporting over 800 digital assets through its Digital Asset Dashboard. For more details, visit www.btcs.com.

BTCS reported a 35% increase in revenue for Q2 2022, reaching $0.5 million, while total revenue for the first half of the year rose to $1.1 million. Despite the positive revenue growth, the company faced a net loss of $7.7 million in Q2, primarily due to non-cash impairment charges of $8.9 million related to Digital Assets. Gross margins improved to 82%. The company is focused on enhancing its Digital Asset platform and has maintained a strong cash balance of $3.2 million with no debt, as management expresses optimism about the future of blockchain technology.