The price trend for BTCS Inc. (BTCS) has been bearish lately and the stock has lost 12% over the past week. However, the formation of a hammer chart pattern in its last trading session indicates that the stock could witness a trend reversal soon, as bulls might have gained significant control over the price to help it find support.The formation of a hammer pattern is considered a technical indication of nearing a bottom with likely subsiding of selling pressure. But this is not the only factor that makes a ...

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Stock Performance and Dividends - The last reported sale price of the Company's Common Stock on March 19, 2024, was $1.22[28] - A total of 14,542,803 shares of Series V Preferred Stock were distributed to shareholders on June 2, 2023[30] - The total value of dividends paid in 2022 was approximately $631,000[31] - Future payment of dividends on Common Stock will depend on earnings and financial condition, which may affect the stock's value[178] - The company does not anticipate paying dividends on a regular or recurring basis for the foreseeable future[200] Business Operations and Strategy - The Company specializes in operating validator nodes on various delegated proof-of-stake and proof-of-stake based blockchain networks, with an emphasis on Ethereum[37] - The Company intends to expand its blockchain infrastructure operations to secure other disruptive blockchain protocols, presenting a significant growth opportunity[37] - The company launched Builder+ in February 2024 to enhance validator earnings by deploying algorithms to optimize reward fees[54] - The company is developing ChainQ, an AI-powered blockchain data and analytics platform, with a planned launch later in 2024[54] - The company's Staking-as-a-Service (StaaS) model allows crypto asset holders to earn token rewards by delegating their assets to validator nodes, creating scalable revenue opportunities with limited additional costs[93] Financial Performance - The company generated a net gain of $7.8 million for the year ended December 31, 2023, compared to a net loss of $15.9 million for the year ended December 31, 2022[54] - The company expects to incur additional net losses over the next several years as it seeks to expand operations, with the timing and amount of future losses remaining uncertain[54] Regulatory and Compliance Risks - The Company may be subject to regulatory actions and restrictions due to its operations in the cryptocurrency industry[49] - The SEC charged Kraken in February 2023, resulting in a $30 million settlement, which may influence regulatory scrutiny on the company's staking-as-a-service operations[60] - The company may face legal or regulatory action if its blockchain operations are deemed to facilitate transactions in crypto assets classified as securities[61] - The company anticipates increased management time and legal expenses to ensure compliance with the 1940 Act regarding the classification of crypto assets[66] - Regulatory uncertainties regarding the classification of crypto assets as securities could impose additional compliance costs and operational restrictions on the company[98] Market and Economic Risks - The focus on PoS blockchain networks exposes the Company to risks of loss due to features unique to those networks[51] - Political or economic crises may lead to large-scale sales of crypto assets, adversely affecting their values and the company's investment[76] - Future regulatory developments may impact the treatment of Bitcoin, Ethereum, and other crypto assets, creating uncertainty for the company's operations[79] - In 2022, U.S. capital markets and crypto asset prices experienced significant declines due to the Federal Reserve's interest rate hikes, impacting consumer spending on crypto assets[88] - Economic downturns may reduce delegation traffic to the company's nodes, adversely affecting its business prospects[88] Cybersecurity and Operational Risks - The cybersecurity program is designed to implement and sustain effective security controls to stop intrusion attempts and improve response capabilities[13] - The reliance on Amazon Web Services (AWS) for operations exposes the company to cybersecurity risks and potential revenue loss if AWS experiences failures[86] - The company is subject to cybersecurity risks that could delay platform development and harm business operations[165] Intellectual Property and Legal Risks - The company’s success depends on avoiding infringement of third-party intellectual property rights, which may be difficult to navigate[139] - The company may face significant costs related to defending against patent infringement claims, which could adversely affect its operations and trading price of securities[140] - The company may face legal claims related to intellectual property rights, increasing costs and potentially delaying product development[169] Accounting and Financial Reporting - Compliance with reporting and accounting requirements is expensive and may require additional finance and accounting systems, increasing costs and management resources[141] - The adoption of new accounting treatment for crypto assets (ASU No. 2023-08) in January 2024 may pose challenges in financial statement preparation and comparisons[142] - The company’s financial results could be significantly affected by changes in accounting standards and subjective management estimates[172] Management and Governance - Management concluded that internal control over financial reporting was effective as of December 31, 2023[181] - Management evaluated the effectiveness of disclosure controls and procedures as of December 31, 2023, concluding they were effective[202] - The company has a Code of Ethics applicable to all officers, directors, and employees, available on its website[185] - The company has the authority to issue preferred stock without further shareholder approval, which could dilute existing shareholders' voting power[201] - The Chief Operating Officer adopted a Rule 10b5-1 trading plan for the potential sale of up to 750,000 shares of common stock, effective until October 15, 2024[182] - The Chief Executive Officer adopted a Rule 10b5-1 trading plan for the potential sale of up to 1.25 million shares of common stock, effective until October 15, 2024[204] Technology and Development Risks - The company is developing the StakeSeeker platform to consolidate user information, but there is a risk of not achieving this goal cost-effectively[131] - Competition in the Ethereum block builder market may impact the company’s market share and revenue generation potential[162] - The company does not insure its crypto assets, exposing it to potential losses without liability coverage[129] - Crypto assets staked on Proof-of-Stake blockchains are locked in smart contracts, which may lead to permanent losses if security issues arise[119] - The company faces potential losses from staking and delegating services, particularly if validator nodes go offline, leading to slashing penalties[86]

Silver Spring, MD, Feb. 01, 2024 (GLOBE NEWSWIRE) -- BTCS Inc. (NASDAQ:BTCS) ("BTCS" or the "Company"), a blockchain technology-focused company, is thrilled to introduce "Builder+", an innovative extension of our core Ethereum blockchain infrastructure operations, designed to provide scalable revenue growth leveraging our current Ethereum validator operations. "We've been heads down and quiet for the latter part of 2023, but we are now excited to share the developments we've been working on, such as Builder ...

BTCS Inc. is an early entrant in the crypto asset market and a publicly-traded U.S. company focused on blockchain infrastructure and staking. The Company specializes in operating validator nodes on various Delegated proof-of-stake ("DPoS") and proof-of-stake ("PoS") based blockchain networks and stakes the native crypto assets on the validator nodes it operates to earn rewards in connection with the validation of transactions occurring on those blockchain networks. Subject to available capital and the restr ...

Expected Term: The Company's expected term represents the weighted-average period that the Company's stock options are expected to be outstanding. The expected term is based on the expected time to post-vesting exercise of options by employees. The Company uses historical exercise patterns of previously granted options to derive employee behavioral patterns used to forecast expected exercise patterns. Effective January 2, 2022, the Board of Directors of the Company ratified the following arrangements approv ...

Crypto assets held are included in the balance sheets as either current assets or other assets if they are staked and locked up for over one year. The Company's crypto assets are initially recorded at fair value upon receipt (or "carrying value"). The fair value of crypto assets is determined using the U.S. dollar spot price of the related crypto asset. On a quarterly basis, crypto assets are measured at carrying value, net of any impairment losses incurred since receipt. The Company will record impairment ...

| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |----------------------|-------|-------|-------|-----------|---------|-------|-------------|-------|------------| | stock | - | - | - | 5,020,883 | - | - | (5,020,883) | - | - | | Fractional shares | | | | | | | | | | | adjusted for reverse | | | | | | | | | | | split | | | - | - | 14,477 | 15 | (15) | - | - | | Warrant exercise | - | - | - | - | 200,000 | 200 | 399,800 | - | 400,000 | | Stock-based | | | | | | | | | | | compensation | - | - | - ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Nevada 90-1096644 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.001 BTCS The Nasdaq Stock Market (The Nasdaq Capital Market) Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 or ☐ ...