Silver Spring, MD, March 08, 2021 (GLOBE NEWSWIRE) — BTCS Inc. (OTCQB: BTCS) (“BTCS” or the “Firm”), a digital asset and blockchain know-how targeted firm, at present introduced its not too long ago expanded transaction verification providers operation on ethereum 2.0 is absolutely operational and producing income from all 100 nodes.
“We set a objective of actively producing income from all 100 nodes by the top of the primary quarter, and we’re happy to report we now have achieved this milestone,” acknowledged Charles Allen, Chief Govt Officer of BTCS. “To this point, we now have deployed 3,200 ETH in our staking operation. With the current infusion of $9.5 million in gross proceeds from our March 2021 registered direct providing, we’re in an incredible place to proceed to develop our validator node community and thereby additional speed up our near-term income progress.”
In September 2014, BTCS was the primary U.S. public firm to mine bitcoin and is now the primary U.S. public firm to run validator nodes on ethereum 2.0. The Firm believes this technique can drive sturdy near-term income progress whereas producing monetary returns superior to conventional bitcoin mining and opening the door to further future income producing providers resembling staking as a service.
On December 1, 2020, ethereum started transitioning to a “proof-of-stake” protocol, ethereum 2.0. Beneath the “proof-of-stake” consensus algorithm, ETH holders have the unique proper to function validator nodes on the community and confirm transactions, thereby incomes transaction charges for his or her work.
BTCS is an early entrant within the digital asset market and one of many first U.S. publicly traded corporations targeted on digital belongings and blockchain applied sciences. The Firm by way of its transaction verification providers enterprise actively verifies and validates blockchain transactions and is rewarded with digital belongings for its work. The Firm can be creating a proprietary digital asset knowledge analytics platform that enables customers to consolidate their crypto trades from a number of exchanges onto a single platform, enabling customers to view and analyze their efficiency, danger metrics, and potential tax implications. The Firm employs a digital asset treasury technique with a major concentrate on disruptive non-security protocol layer belongings resembling bitcoin and ethereum. For extra info go to: www.btcs.com.
Sure statements on this press launch, represent “forward-looking statements” throughout the which means of the federal securities legal guidelines together with statements concerning our perception concerning the expansion of our validator node community and the additional acceleration of our near-term income progress. Phrases resembling “could,” “may,” “will,” “ought to,” “imagine,” “anticipate,” “anticipate,” “estimate,” “proceed,” “predict,” “forecast,” “challenge,” “plan,” “intend” or related expressions, or statements concerning intent, perception, or present expectations, are forward-looking statements. Whereas the Firm believes these forward-looking statements are affordable, undue reliance shouldn’t be positioned on any such forward-looking statements, that are primarily based on info out there to us on the date of this launch. These forward-looking statements are primarily based upon present estimates and assumptions and are topic to numerous dangers and uncertainties, together with with out limitation the rewards and prices related to validating transactions on proof-of-stake blockchains, vital lower in worth of ETH and rewards whereas locked up, loss or theft of the personal withdrawal keys ensuing within the full lack of ETH and reward, in addition to dangers set forth within the Firm’s filings with the Securities and Trade Fee together with its Type 10-Okay for the yr ended December 31, 2020 and the Prospectus Complement filed March 4, 2021. Thus, precise outcomes might be materially totally different. The Firm expressly disclaims any obligation to replace or alter statements whether or not on account of new info, future occasions or in any other case, besides as required by regulation.
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