Silver Spring, MD, Dec. 27, 2024 (GLOBE NEWSWIRE) — BTCS Inc. (Nasdaq: BTCS) (“BTCS” or the “Company”), a leader in blockchain infrastructure and technology, today announced its decision to sunset its StakeSeeker platform. This strategic shift will enable the Company to concentrate its resources on scaling its Ethereum blockchain infrastructure operations, which remain the primary driver of revenue and core to its long-term vision.
BTCS’s StakeSeeker platform has provided crypto asset holders with monitoring and analysis tools for managing 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 to create sustainable value for shareholders.
“After careful consideration, we have decided to discontinue the StakeSeeker platform as part of our strategy to be laser-focused 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 decision reflects our commitment to driving maximum value for our shareholders.”
Importantly, this decision does not affect BTCS’s ability to support crypto asset holders who choose to delegate their crypto holdings to the Company’s validator nodes. Delegators will still have access to BTCS’s infrastructure to earn staking rewards, further reinforcing the Company’s mission to deliver scalable blockchain services.
With the resources freed by sunsetting StakeSeeker, BTCS intends to enhance its validator nodes, strengthen its Builder+ Ethereum block-building operations, and expand its leadership in the proof-of-stake ecosystem.
About BTCS:
BTCS Inc. (Nasdaq: BTCS) is a U.S.-based blockchain infrastructure technology company currently focused on driving scalable revenue growth through its Ethereum blockchain infrastructure operations. BTCS has honed its expertise in Ethereum network operations, particularly in block building and validator node management. Its branded block-building operation, Builder+, leverages advanced algorithms to optimize block construction for on-chain validation, thus maximizing gas fee revenues. BTCS also supports other blockchain networks by operating validator nodes and staking its crypto assets across multiple proof-of-stake networks, allowing crypto holders to delegate assets to BTCS-managed nodes. In addition, the Company has developed ChainQ, an AI-powered blockchain data analytics platform, which enhances 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. Explore how BTCS is revolutionizing blockchain infrastructure in the 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 drive sustained stakeholder value as we adapt and grow. 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 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 utilize 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 year ended December 31, 2023 which was filed on March 21, 2024. 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:
Charles Allen – CEO
X (formerly Twitter): @Charles_BTCS
Email: [email protected]
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