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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.
BTCS announced that CEO Charles Allen will present at the H.C. Wainwright 23rd Annual Global Investment Conference on September 13-15, 2021. The presentation will cover the Company’s revenue-generating blockchain infrastructure, growth in digital asset holdings, and plans for scaling operations. It will be available for on-demand viewing starting at 7:00 a.m. ET on September 13, 2021, and archived for 90 days. Additionally, Allen will hold one-on-one meetings with registered investors during the conference.
BTCS announced that its CEO, Charles Allen, will present at the Benzinga Crypto Fest on September 1, 2021, at 12:05 p.m. Eastern Time. The event will be held virtually, and investors can pre-register for the live webcast.
BTCS is a pioneering company in the blockchain sector, focusing on Proof-of-Stake blockchains. The company is working on a proprietary Staking-as-a-Service platform and a digital asset data analytics platform, aimed at enhancing user experience in cryptocurrency management.
BTCS announced a 1-for-10 reverse stock split effective August 17, 2021. This action aims to meet the Nasdaq Capital Market's listing requirements. Following the split, the company's stock will trade under the symbol BTCSD on the OTCQB. Approximately 5.7 million shares will remain outstanding, with 97.5 million authorized shares post-split. The reverse split will not dilute existing shareholders' equity, although fractional shares will be rounded up. Shareholders are advised to contact their brokers for further inquiries.
