BTCS Withdraws Convertible Note Early, Removes Potential Share Dilution | national

Silver Spring, MD, September 27, 2021 (GLOBE NEWSWIRE) – BTCS Inc. (Nasdaq: BTCS) (“BTCS” or the “Company”), a company focused on blockchain technology, is pleased to announce that the Company has paid on its $ 1.0 million convertible note issued in December 2020.

“As our financial situation has improved significantly this year, we have been able to take this opportunity to generate value for our shareholders by eliminating the potential dilution of this note by repaying it in full,” said Charles Allen, CEO of BTCS . “Since BTCS insiders own approximately 43% of the Company’s outstanding shares, our interests are very well aligned with those of our shareholders, as evidenced by this action. This note had the potential to be converted at a discount of 35% from the closing market price on the conversion date. In view of the recent decline in our share price, the redemption of this note has enabled us to avoid unnecessary dilution and to protect our shareholders. “

BTCS’s share price was $ 1.60 (adjusted for the August 2021 stock split) when the note was issued in December 2020, compared to $ 6.38 as of September 24, 2021. Likewise, Ethereum’s price was only $ 636 when the note was issued, compared to around $ 3,000 as of September 26, 2021.

“The note provided us with the capital to launch our blockchain infrastructure operations, which generated more than $ 450,000 in revenue in the first half of 2021,” Allen continued. “With this capital, we were able to start securing and powering disruptive next-generation blockchains such as Ethereum at great prices before digital assets hit new all-time highs in the second quarter. Now, with our recent Nasdaq listing, we believe we may have better access to debt financing and other low cost capital options to grow our operations, generate income, and ultimately improve the market. return on equity for our shareholders. “

About BTCS: BTCS is a forerunner in the blockchain and digital currency ecosystem, and the first publicly traded US company “Pure Play” focused on blockchain infrastructure and technology. Through its blockchain infrastructure operations, the Company secures next-generation blockchains by actively 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. The company is also developing a proprietary digital asset data analytics platform that allows users to consolidate their crypto transactions from multiple exchanges on a single platform, allowing users to view and analyze their performance. , their risk measures and their potential tax implications. The Company employs a digital asset treasury strategy with a focus on disruptive non-security protocol layer assets. For more information visit:

Investor Relations: Dave Gentry RedChip Companies, Inc. Phone: (407) 491-4498 [email protected]

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