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btcs.com

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Portfolio Exits

1

About BTCS

BTCS (OTCQB: BTCS) secures the blockchain through their rapidly growing transaction verification services business and plans to build a broader ecosystem to capitalize on opportunities in this fast growing industry. The blockchain is a decentralized public ledger and has the ability to fundamentally impact all industries on a global basis that rely on or utilize record keeping and require trust. BTCS continues to evaluate and build additional blockchain technology consumer solutions. BTCS also actively partners and integrates with strategic digital currency and blockchain technology companies who provide products or services that are complementary to its business strategy.

BTCS Headquarter Location

1901 N. Moore St. Suite 700

Arlington, Virginia, 22209,

United States

703-832-0303

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Latest BTCS News

BTCS Reports Q3 2021 Financial Results

Nov 10, 2021

November 10, 2021 09:00 ET BTCS Inc. Silver Spring, MD, Nov. 10, 2021 (GLOBE NEWSWIRE) -- BTCS Inc. (Nasdaq: BTCS) (“BTCS” or the “Company”), a blockchain technology focused company, announced its results for the third quarter ended September 30, 2021. BTCS through its infrastructure operations, secures disruptive blockchains by actively validating network transactions, and is rewarded with digital assets. BTCS is developing the BTCS Data Analytics Dashboard which allows users to evaluate their crypto portfolio from across multiple exchanges with plans to eventually add year-end reports and asset leveraging. Q3 Highlights Expanding blockchain infrastructure operations drove Q3 revenue to $0.3 million, and $0.8 million for the three and nine months ended September 30, 2021, respectively 81% gross margin for the nine months ended September 30, 2021 GAAP Net loss was $3.8 million and $15.5 million for the three and nine months ended September 30, 2021, respectively, triggered by non-cash charges $1.9 million in Adjusted EBITDA, a non-GAAP financial measure, for the nine months ended September 30, 2021 (please refer to the reconciliation toward the end of this press release) Stockholders’ equity was $8.48 million at September 30, 2021, up $7.4 million from December 31, 2020 The fair market value of earned digital assets rewards for operating validator nodes for the three and nine months ended September 30, 2021 was $0.34 million and $0.91 million, respectively Digital assets had a fair market value (“FMV”) of approximately $30.2 million as of September 30, 2021, up 40% from June 30, 2021, and up 1,780% versus September 30, 2020 Repaid $1.0 million in convertible debt, eliminating potential equity dilution Completed uplist to Nasdaq Blockchain Infrastructure Update BTCS continued to expand its blockchain infrastructure segment in the third quarter, by actively operating validator nodes for Tezos, a blockchain designed for smart contracts and decentralized applications, and Avalanche, one of the fastest smart contract platforms offering high transaction throughput. Subsequent to the quarter end, the Company announced the continued expansion of its blockchain infrastructure segment with the addition of Cosmos, a $7 billion interoperable blockchain platform that connects large numbers of independent blockchains within the Cosmos network. BTCS generated 81% gross margin from its operations for the nine months ended September 30, 2021. Our blockchain infrastructure operations are a high profit margin component of the Company’s business model and we expect improved margins as we scale the operations. The Company anticipates exceeding its March 2021 guidance of $1.1 million in revenue for fiscal year 2021. The Company also enhanced its website to better articulate its business plan and growth trajectory. Digital Assets Update The Company’s total digital asset position, which includes its staked digital assets, had a FMV of $30.2 million as of September 30, 2021, up 1,708% over September 30, 2020. As of November 4, 2021, the FMV of BTCS’ digital asset position increased to $45.7 million for a +51% increase in 4Q 2021 to date. The Company views Bitcoin, Ethereum, and certain other digital assets as offering a store of value that can serve as an effective hedge against monetary debasement in the wake of multi-trillion-dollar fiscal and monetary stimulus and rising inflationary pressures that may prove more than transitory. Management Commentary “Our September 2021 listing on Nasdaq marked the beginning of a new era in the evolution of BTCS,” stated Charles Allen, Chief Executive Officer of BTCS. “We are now building on the foundation of our established infrastructure operations with the beta release of our innovative digital asset data analytics platform. Ultimately, our ongoing development efforts are designed to integrate a staking-as-a-service feature into the platform that, once launched, will enable our user base to participate in asset leveraging through securing blockchain protocols.” “As we continue to strategically expand our digital asset position and blockchain infrastructure operations, which are now primarily linked to the growth of DeFi and NFT applications, we expect market tailwinds will continue to be beneficial over the coming quarters and years,” continued Allen. “On behalf of our management team, I want to personally thank our shareholders for their continued support. Our best days and biggest successes are in front of us, and we look forward to sharing further updates on our continued success.” About BTCS: BTCS is an early mover in the blockchain and digital currency ecosystem, and the first "Pure Play" U.S. publicly traded company focused on blockchain infrastructure and technology. Through its blockchain infrastructure operations, the Company secures Proof-of-Stake blockchains by actively processing and validating blockchain transactions and is rewarded with native digital tokens. The Company is developing a proprietary Staking-as-a-Service platform to allow users to stake and delegate supported cryptocurrencies through a non-custodial platform, which it plans to integrate with its Data Analytics Dashboard, now in beta release. BTCS’s proprietary digital asset data analytics platform currently supports six exchanges and over 800 digital assets, and the Company plans to further broaden its suite of performance-tracking tools, add additional centralized and decentralized exchanges, as well as wallets, and stake pool monitoring. The Company’s digital asset treasury strategy, with a primary focus on disruptive non-security protocol layer assets, is a core component of its business model and supports BTCS’s expanding operations. For more information visit:  www.btcs.com . Forward-Looking Statements: Certain statements in this press release, constitute “forward-looking statements” within the meaning of the federal securities laws including statements regarding our belief regarding expectations for the Data Analytics Dashboard, expectations of market tailwinds which benefit the Company in the upcoming quarters and years, belief regarding digital asset values, and our revenue guidance for fiscal year 2021. 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 current estimates and assumptions and are subject to various risks and uncertainties, including without limitation the rewards and costs associated with validating transactions on proof-of-stake blockchains, significant decrease in value of our digital assets and rewards, loss or theft of the private withdrawal keys resulting in the complete loss of digital assets and reward, unexpected issues with our data base platform, reluctance of users to accept our product, decrease in the value in the crypto that we currently own, 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, 2020 and the Prospectus Supplement dated September 14, 2021. 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:

BTCS Portfolio Exits

1 Portfolio Exit

BTCS has 1 portfolio exit. Their latest portfolio exit was Spondoolies on August 24, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

8/24/2021

Acquired

3

Date

8/24/2021

Exit

Acquired

Companies

Valuation

Acquirer

Sources

3

BTCS Acquisitions

1 Acquisition

BTCS acquired 1 company. Their latest acquisition was Spondoolies on February 24, 2016.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

2/24/2016

Merger

$5M

Merger

1

Date

2/24/2016

Investment Stage

Merger

Companies

Valuation

Total Funding

$5M

Note

Merger

Sources

1

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