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Before Marathon Digital Holdings Inc. (NASDAQ: MARA) and Riot Blockchain Inc. (NASDAQ: RIOT) had become industry names, BTCS Inc. (NASDAQ: BTCS) was already mining Bitcoin (CRYPTO: BTC) 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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