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BTCS Inc. (BTCS) is an early mover in the blockchain and digital currency ecosystems, positioning itself as the first 'pure play' U.S. public company focused on blockchain technologies. The company's core business revolves around hosting an online e-commerce marketplace where consumers can purchase merchandise using Digital Assets, including bitcoin. BTCS also operates a beta e-commerce marketplace accepting various digital currencies and has introduced a beta secure digital currency storage solution called BTCS Wallet. With a dedicated management team boasting capital markets experience, industry expertise, and business leadership, BTCS is poised to capitalize on the disruptive potential of blockchain applications across industries globally.
BTCS (Nasdaq: BTCS) has made history by announcing the first-ever dividend payable in Bitcoin, referred to as a Bividend, for Nasdaq-listed companies. Shareholders can opt for a Bividend of $0.05 per share in Bitcoin or cash, with a record date set for March 17, 2022. This innovative approach aims to reward loyal shareholders and promote cryptocurrency adoption. The company has a cash position of $3.56 per share and plans to evaluate future Bividend payments as it grows in the blockchain space.
BTCS Inc. (Nasdaq: BTCS) has appointed Michael Prevoznik as Chief Financial Officer. With over nine years at PricewaterhouseCoopers, he brings substantial expertise in investment company audits. CEO Charles Allen expressed enthusiasm for Prevoznik's addition, highlighting the company's strong financial position and intent to expand its blockchain infrastructure and staking-as-a-service initiatives. BTCS aims to develop a proprietary Staking-as-a-Service platform, enhancing its digital asset analytics, which currently supports six exchanges and over 800 digital assets.
BTCS has announced the retirement of its $1 million convertible note, eliminating its debt and aligning shareholder interests with insiders holding 42% of the shares. This strategic move is expected to prevent dilution and enhance shareholder value. The company reported a significant increase in its digital asset holdings, growing from $4 million at the start of 2021 to $45.7 million by early November 2021. BTCS aims to leverage its debt-free status and strong financial position to exceed its projected revenue of $1.1 million for fiscal year 2021, with plans for growth in its blockchain infrastructure operations.
BTCS Inc. (Nasdaq: BTCS) reported Q3 2021 revenue of $0.3 million, totaling $0.8 million year-to-date, with a robust 81% gross margin. The net loss for Q3 was $3.8 million, primarily due to non-cash charges. Total digital asset fair market value reached $30.2 million, a dramatic increase of 1,780% year-over-year. The firm repaid $1 million in convertible debt, improving financial stability. Notably, BTCS uplisted to Nasdaq and expanded its blockchain operations, including validator nodes for multiple platforms, enhancing growth prospects in the digital asset space.
BTCS Inc. (Nasdaq: BTCS) announced the launch of its revised website, enhancing its business plan and growth trajectory visibility. The company aims to integrate data analytics and staking-as-a-service into a single offering, targeting a broader audience. BTCS reported a record high in digital asset holdings and cash exceeding $45 million. The beta release of its digital asset analytics platform supports six exchanges and over 800 assets. The company is focused on generating revenue from master validator nodes across multiple blockchains, while expanding its performance-tracking tools.
BTCS Inc. (Nasdaq: BTCS) is enhancing its blockchain infrastructure with the addition of Cosmos, a $7 billion interoperable blockchain platform. The Company has deployed a validator node on Cosmos, which is already generating revenue. Cosmos connects over 30 public chains and 250 decentralized applications, promoting scalability and interoperability among blockchains. BTCS aims to capitalize on Cosmos's potential for liquidity and security. The Company is also advancing its Staking-as-a-Service platform and a digital asset data analytics tool for improved trading analysis.
BTCS Inc. (Nasdaq: BTCS) announced the Beta launch of its digital asset data analytics platform on October 6, 2021. This platform enables users to aggregate cryptocurrency holdings across exchanges, offering performance analysis. Currently supporting exchanges like Coinbase and Binance.US, BTCS aims to enhance the platform with additional features and integrations, including staking services. CEO Charles Allen noted a 30% increase in daily digital asset transactions, highlighting the platform's potential to meet growing market demands. The commercial release is anticipated in 2022.
BTCS announced it has fully repaid a $1.0 million convertible note issued in December 2020, aimed at eliminating potential shareholder dilution. CEO Charles Allen highlighted that this move aligns the interests of insiders, who own 43% of shares, with those of shareholders. The company’s stock price saw significant growth from $1.60 at note issuance to $6.38 as of September 24, 2021. The capital from the note helped generate over $450,000 in revenue in H1 2021, with plans for future growth through improved access to financing post Nasdaq listing.
BTCS has added Avalanche (AVAX) to its blockchain infrastructure, enhancing its operations focused on environmentally friendly technologies. AVAX, with a market cap of $14.2 billion, is noted for its high transaction throughput. The company aims to generate revenue from its AVAX validator node deployed on August 20, 2021. Additionally, BTCS' staked ETH is valued at approximately $27.5 million, significantly above its $8 million cost basis. As AVAX partners with various DeFi and NFT projects, its promising roadmap is expected to benefit BTCS.
BTCS Inc. announced its common stock has been approved for listing on The Nasdaq Capital Market, beginning trading under the symbol BTCS on September 14, 2021. This milestone comes as the digital asset market surpasses a $2 trillion market cap. In the first half of 2021, BTCS reported $453,000 in revenue and increased the fair market value of its digital asset holdings by 2,013% to approximately $33 million. The company is expanding its blockchain operations, including Proof-of-Stake pools, and has strengthened its management team.
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