Silver Spring, MD, December 27, 2024 (GLOBE NEWSWIRE) — BTCS Inc. (Nasdaq: BTCS) (“BTCS” or the “Company”), a leader in blockchain infrastructure and technology, today announced his decision to end his activity. StakeSeeker Platform. This strategic shift will allow the company to focus its resources on developing its Ethereum blockchain infrastructure operations, which remain the primary revenue driver and core of its long-term vision.
BTCS’ StakeSeeker platform has provided crypto asset holders with monitoring and analytics tools to manage their portfolios and staking activities. Despite this, the Company has identified its blockchain infrastructure operations, particularly those related to Ethereum, as the most promising area for creating sustainable shareholder value.
“After careful consideration, we have decided to discontinue the StakeSeeker platform as part of our strategy to focus on areas where we have a demonstrable chance of success,” said Charles Allen, CEO of BTCS. “Our primary goal is to position BTCS as the premier Ethereum blockchain infrastructure company, and this move reflects our commitment to generating maximum value for our shareholders.”
Importantly, this decision does not affect BTCS’ ability to support crypto asset holders who choose to delegate their crypto holdings to the company’s validator nodes. Delegates will still have access to BTCS’ infrastructure to earn staking rewards, furthering the company’s mission of providing scalable blockchain services.
With the resources freed up by the removal of StakeSeeker, BTCS intends to improve its validator nodes, strengthen its Builder+ Ethereum block construction operations, and expand its leadership in the proof-of-stake ecosystem.
About BTCS:
BTCS Inc. (Nasdaq: BTCS) is an American blockchain infrastructure technology company currently focused on scalable revenue growth through its Ethereum blockchain infrastructure operations. BTCS has honed its expertise in Ethereum network operations, particularly in block construction and validator node management. Its branded block building operation, Builder+, leverages advanced algorithms to optimize block construction for on-chain validation, thereby maximizing gas fee revenue. BTCS also supports other blockchain networks by operating validator nodes and spreading its crypto assets across multiple proof-of-stake networks, allowing crypto holders to delegate assets to BTCS-managed nodes. Additionally, the company developed ChainQ, an AI-powered blockchain data analytics platform that improves 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. Learn how BTCS is revolutionizing blockchain infrastructure in public markets by visiting 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 ability to generate sustainable value for stakeholders as we adapt and grow. Words such as “may”, “could”, “will”, “should”, “believe”, “expect”, “anticipate”, “estimate”, “continue”, “predict”, “forecast” , “project,” “plan,” “intent” or similar expressions, or statements regarding intent, belief or current expectations, are forward-looking statements. Although the Company believes that these forward-looking statements are reasonable, undue reliance should not be placed on these forward-looking statements, which are based on information available to us as of the date of this release. These forward-looking statements are based on assumptions and are subject to various risks and uncertainties, including, without limitation, regulatory issues, unexpected issues with Builder+, unexpected issues with ChainQ and the reluctance of validators to try or use our Builder+ product, as well as risks set forth in the Company’s filings with the Securities and Exchange Commission, including its Form 10-K for the fiscal year ended December 31, 2023 which was filed on March 21, 2024. Actual results could therefore be materially different. The Company expressly disclaims any obligation to update or amend any 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
E-mail: ir@btcs.com
