Cryptocurrency Play BTCS Reports 900% Growth In Assets Year-Over-Year – Could This Be A Piece Of Crypto Forgotten Treasure?

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Before Marathon Digital Holdings Inc. MARA and Riot Blockchain Inc. RIOT had become industry names, BTCS Inc. BTCS was already mining Bitcoin BTC/USD and growing its blockchain infrastructure. 

In almost a clandestine fashion, the pure-play U.S. public company established a long list of firsts. In 2014, BTCS reported becoming the first U.S. public company to mine Bitcoin. In 2017, it became the first U.S. public company to implement a digital asset treasury strategy, while in 2021, it became the first U.S. public company to focus on securing next-generation proof-of-stake blockchains. 

Since its inception, BTCS says it has grown its crypto mining initiatives into a crypto ecosystem. It now builds and operates validator nodes for major blockchains, like Ethereum, Tezos and Cosmos and is developing a staking-as-a-service platform that will allow users to delegate crypto to BTCS run validator nodes in order to earn a return on holdings. 

In 2022, the company stated it stepped up its innovations, creating a first-of-its-kind, Bitcoin-issued dividend, a gesture reflective of its mission to be at the forefront of the crypto market’s evolution. 

Bites By Numbers

BTCS reports its financial highlights for the year-ended 2021 as well: 

• $37.8 million in cash and cryptocurrency at fair market value 
• $1.2 million in revenue generated from blockchain infrastructure operations
• $15.9 million in capital raised via common stock at an average price of $8.2 a share
• 900% growth in assets year-over-year 
• No toxic debt 
• 41% insider ownership 

Click here for more on BTCS.

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Photo by Art Rachen on Unsplash