Latest news with #Builder+
Associated Press
09-04-2025
- Business
- Associated Press
BTCS Expands Its Block-Building Capabilities To Include Binance Chain Via Strategic Acquisition
NEWMEDIAWIRE) - BTCS Inc. (NASDAQ: BTCS), the blockchain infrastructure and technology company aiming to expand the market of fee-based products that run on the Ethereum network, further strengthened its position by adding Binance Chain to its block-building operations. With a market cap of around $80 billion, Binance Chain is the fifth-largest cryptocurrency in the market. It is used to enable decentralized finance (DeFi) functions, build decentralized apps or DApps and support non-fungible tokens (NFTs). BTCS says adding Binance Chain to its operations gives it a greater foothold in the Ethereum Virtual Machine or EVM-based ecosystem. Further Strengthening Its Ethereum Chops EVM is a decentralized virtual environment that is known for its consistency and security when executing smart contracts and DApps. BTCS was able to add Binance Chain to its block-building operations through the acquisition of TxBoost, a Binance Chain block builder. The acquisition aligns with its strategy of partnering and/or acquiring key players in the Ethereum ecosystem. 'Builder+ supporting Binance Chain is a natural extension of our Ethereum-focused infrastructure strategy,' Charles Allen, CEO of BTCS, said when announcing the expansion. 'Given Binance Chain's roots as a fork of Ethereum and its EVM compatibility, we're able to leverage components of our existing technology stack to quickly scale, which aligns with our strategic objectives of increasing revenue and improving margins.' Builder+ represents the company's block building operations, utilizing advanced algorithms to construct optimized blocks for on-chain validation designed to maximize validator earnings. It has been driving growth at the company, accounting for about $2.5 million of revenue - more than half of its full-year 2024 revenue. 'In 2024, BTCS solidified its position as the leading publicly traded Ethereum infrastructure company, pioneering block-building operations at scale,' said the company when reporting fourth quarter and full-year earnings results. 'The success of Builder+, which optimizes block construction to maximize transaction fee (gas) revenue, drove record growth, underscoring the strength of both our strategic direction and execution.' For the full year 2024, BTCS reported record revenue of $4.1 million, up 204% from $1.3 million for 2023. For the fourth quarter, revenue of $2.3 million was up 612% from the year-ago quarter and 214% higher sequentially. BTCS expects to replicate that success with the addition of Binance Chain to Builder+ and further scale its operations across compatible blockchains. Driving Future Revenue Growth The addition of Binance Chain to BTCS' block-building operations supports the company's goal to achieve full-year 2025 revenue of $20 million, which it laid out in a recent 8-K filing. BTCS believes the addition of Binance Chain along with other ongoing strategic efforts such as its Scaled Validator Implementation Plan, which is designed to boost vertically integrated validator revenue by 10%, its partnership with ETHGas, which unlocks ultra-low-latency scaling on the Ethereum blockchain enabling transaction confirmations that are lightning fast, and it's Staking Protection Plan, which enhances financial stability and operational security for Ethereum blockchain validators, will help it achieve its goal and create shareholder value. Founded in 2014, BTCS pioneered Bitcoin mining as the first U.S. public company in the space. Over the years, BTCS has shifted its focus to Ethereum, leveraging its expertise to drive growth in validator node operations and block building. Since shifting to Ethereum, BTCS has become a key participant in Ethereum's Proof-of-Stake ecosystem, operating 522 validator nodes.
Associated Press
07-04-2025
- Business
- Associated Press
BTCS Inc. Expands Block-Building Operations to Binance Chain Through Strategic Acquisition
Silver Spring, Maryland--(Newsfile Corp. - April 7, 2025) - BTCS Inc. (NASDAQ: BTCS) ('BTCS' or the 'Company'), a leader in blockchain infrastructure and technology, today announced the expansion of its block-building operations to Binance Chain, the fifth-largest cryptocurrency with a market cap exceeding $80 billion as of April 3, 2025. This move reinforces the Company's commitment to scalable revenue growth. The expansion was accelerated through the strategic acquisition of TxBoost, an established Binance Chain block builder, further strengthening BTCS's position in the rapidly evolving Ethereum Virtual Machine ('EVM') based ecosystem. ' Builder+ supporting Binance Chain is a natural extension of our Ethereum-focused infrastructure strategy," stated Charles Allen, CEO of BTCS. " Given Binance Chain's roots as a fork of Ethereum and its EVM compatibility, we're able to leverage components of our existing technology stack to quickly scale, which aligns with our strategic objectives of increasing revenue and improving margins. ' Builder+ generated significant revenue growth for the Company. In Q4 2024, it generated approximately $2.3 million in revenue, as disclosed in our 2024 Full Year Earnings Release, accounting for more than half of 2024 total revenue. With the addition of Binance Chain to Builder+, BTCS plans to drive revenue growth by strategically expanding operations across compatible blockchains. To view an enhanced version of this graphic, please visit: This initiative is in line with management's desire to achieve the Company's 2025 $20 million revenue performance milestone, as noted in our January 2, 2025, Form 8-K filing. Management believes this initiative-alongside other ongoing strategic efforts-is a meaningful step toward achieving that goal and creating shareholder value. About BTCS: BTCS Inc. (NASDAQ: BTCS) is a U.S.-based blockchain infrastructure technology company currently focused on driving scalable revenue growth through its blockchain infrastructure operations. BTCS has honed its expertise in blockchain network operations, particularly in block building and validator node management. Its branded block-building operation, Builder+, leverages advanced algorithms to optimize block construction for on-chain validation, thus maximizing gas fee revenues. BTCS also supports other blockchain networks by operating validator nodes and staking its crypto assets across multiple proof-of-stake networks, allowing crypto holders to delegate assets to BTCS-managed nodes. In addition, the Company has developed ChainQ, an AI-powered blockchain data analytics platform, which enhances user access and engagement within the blockchain ecosystem. Committed to innovation and adaptability, BTCS is strategically positioned to expand its blockchain operations and infrastructure beyond Ethereum as the ecosystem evolves. Explore how BTCS is revolutionizing blockchain infrastructure in the public markets by visiting Forward-Looking Statements: Certain statements in this press release constitute 'forward-looking statements' within the meaning of the federal securities laws, including statements regarding investment opportunities from Binance Chain, growth of Binance, goals and beliefs with respect to revenue goals and increased margins, and our ability to capitalize on Binance Chain's growth. 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 assumptions and are subject to various risks and uncertainties, including without limitation regulatory issues, unanticipated issues integrating Binance Chain into our operations, cybersecurity risks, technological challenges, market adoption risks, competition, changes in blockchain protocols, unexpected issues with Builder+, the reluctance of validators to utilize our Builder+ product, volatility in cryptocurrency markets, and other risks inherent to blockchain technology and cryptocurrency operations, 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, 2024 which was filed on March 20, 2025. 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. Twitter: LinkedIn: Facebook: Investor Relations: Charles Allen - CEO X (formerly Twitter): @Charles_BTCS Email: [email protected]
Associated Press
25-03-2025
- Business
- Associated Press
BTCS Reports Record Revenue Growth For 2024 Driven By Focus On Ethereum Block Building
NEWMEDIAWIRE) - BTCS Inc. (NASDAQ: BTCS), the first public U.S. Bitcoin mining company that shifted its focus last year to driving scalable revenue growth through its Ethereum blockchain infrastructure, seems to be reaping the benefits of that move, reporting a 204% year-over-year increase in revenue for all of 2024. The company credits that growth to the success of Builder+, its advanced Ethereum block-building operation that leverages sophisticated algorithms to maximize validator rewards. 'In 2024, BTCS solidified its position as the leading publicly traded Ethereum infrastructure company, pioneering block-building operations at scale,' said the company's management when reporting fourth quarter and full-year earnings results, 'The success of Builder+, which optimizes block construction to maximize transaction fee (gas) revenue, drove record growth, underscoring the strength of both our strategic direction and execution.' BTCS Is In Growth Mode For the full year 2024, BTCS reported revenue of $4.1 million, up a record 204% from $1.3 million for 2023. For the fourth quarter, revenue of $2.3 million was up 612% from a year ago and 214% higher sequentially. The blockchain company ended 2024 with $38.1 million in cash and cryptocurrency holdings, up 43% from $26.7 million at the end of 2023. In terms of net income, BTCS reported a net loss of $1.3 million or $0.08 per share for the year, compared to net income of $7.8 million, or $0.55 per share, in 2023, primarily driven by non-cash charges. Gross margins of 23% reflected the build-out of Builder+, reports the company. Founded in 2014, BTCS pioneered Bitcoin mining as the first U.S. public company in the space. Over the years, BTCS has shifted its focus to Ethereum, leveraging its expertise to drive growth in validator node operations and block building. Since shifting to Ethereum, BTCS has become a key participant in Ethereum's Proof-of-Stake ecosystem, operating 522 validator nodes. Sharper Focus Pays Off During 2024, BTCS said its focus on building its Ethereum operations resulted in key developments that positioned it for growth in 2024 and beyond. These include the successful migration of most of its infrastructure from Amazon Web Services to bare metal servers, and the transition of its Builder+ platform to Rust programming language from Go. By doing that, BTCS expects to significantly reduce operational costs and enhance system performance. The company also implemented a data lake that stores and manages data securely, invested and partnered with ETHGas and rolled out rebates. If that wasn't enough, BTCS also launched its Staking Protection Plan with WonderFi and Figment, and its scaled validator implementation with Rocket Pool. As a result of all those efforts, BTCS says its peak daily block-building market share was more than 1.5% of all transactions processed on Ethereum's network and has averaged over 1% during the last 30 days. 'With a strong foundation in place, BTCS is well-positioned to execute our strategy and maximize shareholder value,' said the company in its earnings press release. More Growth In 2025? Looking ahead to full-year 2025, BTCS is optimistic more growth is on the cards. The company pointed to several drivers including a pro-crypto regulatory environment, which it said the industry has not seen in the past ten years. BTCS highlighted the U.S. Securities and Exchange Commission's move to dismiss several high-profile inquiries into the crypto businesses of Coinbase Global Inc., Robinhood Markets Inc., Uniswap, Gemini, Consensys, Cumberland and Ripple as a reason for optimism. BTCS says that the shift in the regulatory environment and the clarity it brings set the stage for innovation and renewed growth across the industry. Then there's the Pectra Ethereum upgrade coming this year which is designed to boost network speed, lower costs and simplify transactions. Once it's complete, users will be able to pay transaction fees with tokens instead of just ETH, increase staking limits from 32 ETH to 2,048 ETH to improve efficiency and expand transaction capacity through blob – or large packets of data – technology. 'With these advancements, Ethereum is strengthening its competitive edge against Solana, positioning itself to remain the go-to blockchain for DeFi, NFTs and beyond,' said BTCS management. BTCS also expects to see more attention in the Ethereum space given Ethereum ETF approvals were granted in 2024. That should drive more traditional investors into the market and more long-term capital inflows into Ethereum, cementing its position as a player in the global digital economy which it's confident is poised for growth. Looking at forecasts, the global digital economy is forecast to reach $16.5 trillion by 2028, accounting for 17% of global GDP. 'These transformational developments far outweigh any short-term price fluctuations in the crypto market. Enhanced scalability, improved regulatory clarity, and increasing institutional participation create a strong foundation for long-term growth,' BTCS management said, 'As blockchain adoption accelerates, Ethereum's ongoing advancements position it as the premier network for decentralized applications, reinforcing the bullish outlook for the sector.'
Associated Press
20-03-2025
- Business
- Associated Press
BTCS Reports Record 2024 Results
204% Year-Over-Year Revenue Growth Driven by Expansion in Ethereum Block-Building Operations Silver Spring, Maryland--(Newsfile Corp. - March 20, 2025) - BTCS Inc. (NASDAQ: BTCS) ('BTCS' or the 'Company'), a leader in blockchain infrastructure and technology, announced its financial results for the year ended December 31, 2024 ('2024"). 2024 Financial Highlights 2024 Revenue: $4.1 million, representing a 204% increase from $1.3 million in 2023. Quarterly Revenue Growth: $2.3 million Q4 2024 revenue, a 612% increase over Q4 2023, and a 214% quarterly increase from Q3 2024. Gross Margin: 23%, reflecting the scaling of Builder+, BTCS's Ethereum block-building operations, compared to NodeOps, our ultra high-margin staking operations. Net Income/Loss: Reported net loss of $1.3 million, or $0.08 per share, compared to net income of $7.8 million, or $0.55 per share, in 2023, primarily driven by non-cash charges. Cash and Cryptocurrency Holdings: $38.1 million as of December 31, 2024, up 43% from $26.7 million at year-end 2023. [ This image cannot be displayed. Please visit the source: ] To view an enhanced version of this graphic, please visit: Management Commentary In 2024, BTCS solidified its position as the leading publicly traded Ethereum infrastructure company, pioneering block-building operations at scale. The success of Builder+, which optimizes block construction to maximize transaction fee (gas) revenue, drove record growth, underscoring the strength of both our strategic direction and execution. Our goal is simple: drive shareholder value by growing revenue and improving margins. We aim to achieve this goal in three ways: 1) enhance our tech stack, 2) increase order flow, and 3) control block space. The following table outlines our 2025 progress towards these initiatives. To view an enhanced version of this graphic, please visit: In 2024, we were fully focused on building our operations, which culminated in several key developments-including the transition to Rust, the adoption of bare-metal servers, the implementation of a data lake, a partnership with and investment in ETHGas, the introduction of rebates, multiple new sources of private order flow, the launch of the Staking Protection Plan ('SPP') with WonderFi and Figment, and our scaled validator implementation with Rocket Pool. As a result, our peak daily block-building market share accounted for over 1.5% of all transactions processed on Ethereum's network and has averaged over 1% over the last 30 days. With a strong foundation in place, BTCS is well-positioned to execute our strategy and maximize shareholder value. Industry & Market Commentary The cryptocurrency market experienced significant developments in late 2024 and early 2025, including: Regulatory Tailwinds: The new administration's pro-crypto policies have fostered a constructive regulatory environment not seen in the last 10 years. With regulatory clarity and sensible oversight being the new norm, the stage is set for innovation and renewed confidence and growth across the industry. The change is marked by the SEC's recent dismissal of several high-profile cases, including Coinbase, Robinhood, Uniswap, Gemini, Consensys, and Cumberland. Ethereum's Network Growth: The upcoming Pectra upgrade in 2025 is set to be a game-changer for Ethereum, enhancing speed, reducing costs, and simplifying transactions. Key features include the ability to pay transaction fees with tokens like USDC instead of just ETH, an increase in staking limits from 32 ETH to 2,048 ETH to improve efficiency, and expanded transaction capacity through blob technology. With these advancements, Ethereum is strengthening its competitive edge against Solana, positioning itself to remain the go-to blockchain for DeFi, NFTs, and beyond. Institutional Adoption: Ethereum ETF approvals were officially granted in 2024, marking a major milestone for institutional investment in digital assets. This development has significantly increased accessibility for traditional investors and is expected to drive long-term capital inflows into Ethereum, reinforcing its position as the foundation of a growing global digital economy. These transformational developments far outweigh any short-term price fluctuations in the crypto market. Enhanced scalability, improved regulatory clarity, and increasing institutional participation create a strong foundation for long-term growth. As blockchain adoption accelerates, Ethereum's ongoing advancements position it as the premier network for decentralized applications, reinforcing the bullish outlook for the sector. About BTCS: BTCS Inc. (NASDAQ: BTCS) is a U.S.-based blockchain infrastructure technology company currently focused on driving scalable revenue growth through its blockchain infrastructure operations. BTCS has honed its expertise in blockchain network operations, particularly in block building and validator node management. Its branded block-building operation, Builder+, leverages advanced algorithms to optimize block construction for on-chain validation, thus maximizing gas fee revenues. BTCS also supports other blockchain networks by operating validator nodes and staking its crypto assets across multiple proof-of-stake networks, allowing crypto holders to delegate assets to BTCS-managed nodes. In addition, the Company has developed ChainQ, an AI-powered blockchain data analytics platform, which enhances user access and engagement within the blockchain ecosystem. Committed to innovation and adaptability, BTCS is strategically positioned to expand its blockchain operations and infrastructure beyond Ethereum as the ecosystem evolves. Explore how BTCS is revolutionizing blockchain infrastructure in the public markets by visiting Twitter: LinkedIn: Facebook: Forward-Looking Statements: Certain statements in this press release constitute 'forward-looking statements' within the meaning of the federal securities laws, including statements regarding growing revenue, improving margins, increasing order flow, expected results from the upcoming Pectra upgrade, expectations from the Ethereum ETF approval. 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 assumptions and are subject to various risks and uncertainties, including without limitation regulatory issues, unexpected issues with Builder+ and ChainQ, 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, 2024 which was filed on March 20, 2025. 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: Charles Allen - CEO X (formerly Twitter): @Charles_BTCS Email: [email protected] Financials The tables below are derived from the Company's financial statements included in its Form 10-K filed on March 20, 2025, with the Securities and Exchange Commission. Please refer to the Form 10-K for complete financial statements and further information regarding the Company's results of operations and financial condition relating to the fiscal quarter and fiscal year ended December 31, 2024 and 2023. The Company's Form 10-K also includes a discussion of risk factors applicable to the Company and its business. BTCS Inc. Balance Sheets [This table cannot be displayed. Please visit the source.] BTCS Inc. Statements of Operations [This table cannot be displayed. Please visit the source.] BTCS Inc. Statements of Cash Flows [This table cannot be displayed. Please visit the source.]
