Bitcoin firm BTCS generates 1,797 bitcoins in FY 2015

BTCS Inc (OTCMKTS:BTCS), formerly known as Bitcoin Shop, Inc., has provided a performance update for last year and struck a positive note about its future operations.

The blockchain technology focused company said it generated 1,797 bitcoins for the year ended December 31, 2015 from its transaction verification services, a jump of 3,389% over total bitcoins earned in 2014.

The data is contrasting with the gloomy financial metrics BTCS has posted for the first nine months of 2015, as the company incurred a net loss of $4.6 million in the first half of 2015 and a net loss of $3.82 million in the third quarter of 2015.

The company was positive about its future performance, with Charles Allen, CEO of BTCS, saying,

“Our refined operational focus on blockchain technologies has led to a rapid build-out of capacity at our North Carolina facility, and with our definitive merger with Spondoolies-Tech Ltd. now in place, we are well-positioned for continued growth in 2016.”

“With the transaction verification servers we are running today, we believe we are on track to generate over 600 bitcoins in the first quarter of 2016. The remaining unused capacity we have in place provides ample room for planned growth with minimal added expense as we pursue a substantial financing with the goal of uplisting to a major exchange.”

BTCS said it hired Chardan Capital Markets, LLC, a privately held investment banking firm, to advise the company on potential transactions that could lead to a listing on a major exchange.

You can view the announcement from BTCS by clicking here.

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