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Tag: BTCS Inc. Stock

  • Last Week’s Rally Eases As BTCS Stock Levels Out

    Last Week’s Rally Eases As BTCS Stock Levels Out

    Following a robust weekly gain exceeding 25%, BTCS Inc. (NASDAQ: BTCS) experienced a correction phase, with shares declining by 4.48% to close the previous session at $3.41. The surge began with a 33.21% jump last Friday, pushing the stock to $3.57, driven by the announcement of a new growth strategy.

    The company also holds a Buy rating and an impressive ST score of 58 on our ST screener. Notable peers in the Financial Services sector, such as HCI and AMP, boast similarly strong or higher ratings. To discover more high-performing stocks within this sector, explore our comprehensive screener today.

    Plan for Strategic Growth Unveiled

    By implementing the Scaled Validator Implementation Plan, BTCS Inc. is eyeing accelerated growth. With the goal of increasing revenue and improving margins, this new strategic initiative highlights BTCS’s continued emphasis on innovation and operational effectiveness in the blockchain sector.

    Comprehensive Assessment and Development

    BTCS has thoroughly examined Rocket Pool, a decentralized Ethereum-based liquid staking technology, during the last five months. As part of its due diligence, the corporation evaluated possible business risks and benefits in addition to aspects like auditability, compliance, cybersecurity, and infrastructure integrity.

    A pilot program was successfully completed as a result of this procedure, and it has now grown to include 320 validators in Rocket Pool’s liquid staking pool. An important turning point in the company’s development within the validator node industry is this expansion.

    Forecasted Revenue Increase and Long-Term Plan

    In order to strengthen its position in the blockchain market, BTCS expects vertically integrated validators’ income to rise by as much as 10%. In order to optimize revenue potential, the company’s strategy centers on maximizing the number of active validators.

    In order to ensure long-term, scalable revenue development, BTCS intends to diversify its technology suppliers and expand its validator agreements. By demonstrating the company’s dedication to security, compliance, and performance, this effort opens the door for further growth in the blockchain infrastructure industry.

  • On What Basis Did BTCS Stock Rise 34%?

    On What Basis Did BTCS Stock Rise 34%?

    Last session, BTCS Inc (OTCQB: BTCS) gained 34.58%, sending its market cap to $42.24M, closing at $0.7550. The BTCS stock has traded between $0.5620 and $0.7599 on Friday. There are 55.96M shares outstanding versus 44.41M float for the pink sheets company. BTCS stock soared after providing quarterly results.

    How BTCS performed?

    BTCS was one of the early players in the U.S. focused on blockchain and the digital currency ecosystem. As a blockchain infrastructure operator, BTCS proactively processes and validates blockchain transactions on Ethereum’s proof-of-stake blockchain and receives reward digital assets. Through this platform, BTCS is establishing a stake and delegation system to facilitate the use of cryptocurrencies and a non-custodial system.

    BTCS’ first-quarter results were announced last week along with other developments.

    Q1 Highlights/Updates:

    • By March 31, 2021, the stockholders’ equity stood at $15.4 million, an increase of $14.3% over the December 31, 2020 period
    • Non-cash charges led BTCS to a net loss of $6.8 million.
    • A non-GAAP financial measure of adjusted EBITDA of $2.4 million was reported.
    • As of March 31, 2021, digital assets of BTCS were valued at about $20.1 million, up 411% from December 31, 2020, and 7,516% from March 31, 2020.
    • With operations only fully kicking off in the last month of Q1 2021, the Ethereum 2.0 blockchain staking operation went from a single node to 240 nodes.
    • This generated $72K for BTCS with 100% of revenue coming from ETH.
    • A registered direct offering and equity line raised $11.5 million for an average price of $1.03 per share.
    • BTCS was personally invested by the company’s management and board director for $1.1 million.
    • The cash position at BTCS as of March 31, 2021, was $3.4 million.