BTCS (BTCS) Expands its Ethereum 2.0 Staking Operation to 200 Nodes

52
Google Ads

Miami, FL – March 11, 2021 (EmergingGrowth.com NewsWire) — EmergingGrowth.com, a leading independent small cap media portal with an extensive history of providing unparalleled content for the Emerging Growth markets and companies, reports on BTCS Inc. (OTCQB: BTCS)

Silver Spring, MD, March 11, 2021 (GLOBE NEWSWIRE) — BTCS Inc. (OTCQB: BTCS) (“BTCS” or the “Company”), a digital asset and blockchain technology focused company, today announced it further expanded its transaction verification services operation on ethereum 2.0 to 200 nodes. The Company expects the additional 100 nodes will begin generating revenue by the end of the first quarter of 2021.

“With a significantly strengthened balance sheet from the recent $9.5 million capital raise, we are well-positioned to accelerate revenue growth from our transaction verification services business and have already doubled our ethereum 2.0 staking operation to 200 nodes,” stated Charles Allen, Chief Executive Officer of BTCS. “With financial returns superior to traditional bitcoin mining, our staking operation strategy will drive strong near-term revenue growth while being more profitable than resource intensive proof-of-work mining and opening the door to other revenue generating operations such as staking as a service.”

On December 1, 2020, ethereum began transitioning to a “proof-of-stake” protocol, ethereum 2.0. Under the “proof-of-stake” consensus algorithm, ETH holders have the exclusive right to operate validator nodes on the network and verify transactions, thereby earning transaction fees for their work. In early March 2021, ethereum blockchain developers approved EIP 1559, one of the biggest changes to the network since its 2015 inception, that will reduce the supply of the Ether cryptocurrency when effective in August 2021, a move likely to prompt price increases as user demand grows. BTCS is the first U.S. public company to run validator nodes on ethereum 2.0.

Allen continued “With more than $8 million in cash and approximately $14.5 million in crypto currencies, we have a solid financial foundation to accelerate the execution of our vision.”

About BTCS:

BTCS is an early entrant in the digital asset market and one of the first U.S. publicly traded companies focused on digital assets and blockchain technologies. The Company through its transaction verification services business actively verifies and validates blockchain transactions and is rewarded with digital assets for its work. The Company is also developing a proprietary digital asset data analytics platform that allows users to consolidate their crypto trades from multiple exchanges onto a single platform, enabling users to view and analyze their performance, risk metrics, and potential tax implications. The Company employs a digital asset treasury strategy with a primary focus on disruptive non-security protocol layer assets such as bitcoin and ethereum. For more information visit: www.btcs.com.

Google Ads

Forward-Looking Statements:

Certain statements in this press release, constitute “forward-looking statements” within the meaning of the federal securities laws including statements regarding our expected timing of revenue for the additional nodes, accelerated revenue growth and profitability. Words such as “may, ” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation the rewards and costs associated with validating transactions on proof-of-stake blockchains, significant decrease in value of ETH and rewards while locked up, loss or theft of the private withdrawal keys resulting in the complete loss of ETH and reward, as well as risks set forth in the Company’s filings with the Securities and Exchange Commission including its Form 10-K for the year ended December 31, 2020 and the Prospectus Supplement filed March 4, 2021. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

Investor Relations:

Dave Gentry

RedChip Companies, Inc.

Phone: (407) 491-4498

dave@redchip.com

About EmergingGrowth.com

Through its evolution, EmergingGrowth.com found a niche in identifying companies that can be overlooked by the markets. We look for strong management, innovation, strategy, execution, and the overall potential for long- term growth. Aside from being a trusted resource for the Emerging Growth info-seekers, we are well known for discovering undervalued companies and bringing them to the attention of the investment community. Through our parent Company, we also have the ability to facilitate road shows and virtual conferences to present your products and services to the most influential investment banks in the space.

All information contained herein as well as on the EmergingGrowth.com website is obtained from sources believed to be reliable but not guaranteed to be accurate or all-inclusive. All material is for informational purposes only, is not the opinion of EmergingGrowth.com and should not be construed as an offer or solicitation to buy or sell securities. The information may include certain forward-looking statements, which may be affected by unforeseen circumstances and / or certain risks.  EmergingGrowth.com, or its associates may have a position either long or short in any company mentioned herein. Please read our full disclosure, which can be found here, https://emerginggrowth.com/disclosure/. Please consult an investment professional before investing in anything viewed within this article or any other portion of EmergingGrowth.com. In addition, please make sure you read and understand the Terms of Use, Privacy Policy and the Disclosure posted on the EmergingGrowth.com website.