受會計變化和加密貨幣市場推動，BTCS 淨利潤創下 780 萬美元的歷史新高

區塊鏈技術公司BTCS Inc. 報告稱，截至2023 年12 月31 日的財年淨利潤達到創紀錄的780 萬美元，即每股0.55 美元，較2022 年1590 萬美元，即每股1.25 美元的淨虧損有了顯著改善。財務改善主要是由會計準則的變化所推動的，導致以公平市場價值確認加密資產的未實現損益。

BTCS Inc. Reports Record Net Income of $7.8 Million in 2023, Driven by Accounting Changes and Crypto Market Recovery

BTCS Inc. 報告稱，在會計變更和加密貨幣市場復甦的推動下，2023 年淨利潤將達到創紀錄的 780 萬美元

Silver Spring, MD - March 22, 2024 - BTCS Inc. (Nasdaq: BTCS), a blockchain technology-focused company, today announced its financial results for the fiscal year ended December 31, 2023 ("2023").

馬裡蘭州銀泉- 2024 年3 月22 日- BTCS Inc.（納斯達克股票代碼：BTCS）是一家專注於區塊鏈技術的公司，今天公佈了截至2023 年12 月31 日的財年（ 「2023」）的財務表現。

Financial Highlights

財經摘要

• Revenue: $1.3 million in 2023, a 20% decrease from $1.7 million in 2022. The decline was primarily attributed to lower crypto prices in early 2022. However, revenue for the fourth quarter of 2023 increased 20% year-over-year, benefiting from a surge in crypto market prices in December 2023.
• Gross Margin: 73% gross margins in 2023, down slightly from 75% in 2022.
• Net Income: $7.8 million or $0.55 per share in 2023, in stark contrast to a net loss of $15.9 million or -$1.25 per share in 2022. This significant improvement was primarily attributed to financial reporting changes resulting from the adoption of new accounting standards.
• Cash & Crypto Value: $26.7 million as of December 31, 2023, marking an 82% year-over-year increase.
• Current Cash & Crypto Value: $36.5 million or approximately $2.33 per share as of March 19, 2024. The ongoing rally in crypto prices through early 2024 has further elevated the value of our crypto assets.

Management Commentary

營收：2023 年為 130 萬美元，比 2022 年的 170 萬美元減少 20%。下降的主要原因是 2022 年初加密貨幣價格較低。不過，2023 年第四季的營收年增 20%，受益於2023年12 月加密貨幣市場價格飆升。毛利率：2023 年毛利率為73%，略低於2022 年的75%。淨利潤：2023 年為780 萬美元，即每股0.55 美元，與1590 萬美元的淨虧損形成鮮明對比或2022 年每股-1.25 美元。這一顯著改善主要歸因於採用新會計準則導致的財務報告變化。現金和加密貨幣價值：截至2023 年12 月31 日為2670 萬美元，年增82%截至2024 年3 月19 日，當前現金和加密貨幣價值：3,650 萬美元，即每股約2.33 美元。截至2024 年初，加密貨幣價格持續上漲，進一步提升了我們加密資產的價值。管理評論

"In 2023, our strategic initiatives delivered strong results, culminating in significant momentum as we moved into 2024," said Charles Allen, CEO of BTCS Inc. "The fair market value of our cryptocurrency assets saw a remarkable doubling over the past year, with an additional increase of 42% to $35.7 million by March 19, 2024. This growth not only demonstrates our adeptness at navigating the volatile cryptocurrency market but also sets the stage for enhanced revenue prospects in 2024, bolstering our financial strength and future growth."

BTCS Inc. 執行長 Charles Allen 表示：「2023 年，我們的策略舉措取得了強勁成果，並在進入2024 年時實現了強勁勢頭。」「我們的加密貨幣資產的公平市場價值在過去一年中顯著翻了一番，到2024 年3 月19 日，將額外增長42%，達到3570 萬美元。這一增長不僅表明我們在駕馭波動的加密貨幣市場方面的能力，還為2024 年收入前景的增強奠定了基礎，增強了我們的財務實力和未來成長。”

Key Initiatives and Product Developments

主要舉措和產品開發

• StakeSeeker: Launched in January 2023, StakeSeeker is a crypto analytics and non-custodial staking-as-a-service platform. BTCS aims to increase its fee-based revenue from rewards earned on assets delegated to its nodes. The company plans to introduce Ethereum non-custodial staking to StakeSeeker in 2024 to diversify and scale its revenue streams further.
• Builder+: Introduced in February 2024, Builder+ is an innovative Ethereum block builder that utilizes sophisticated algorithms to optimize block construction for on-chain validation. Designed to enhance validator earnings and compete in a market for transaction gas fees, Builder+ represents an extension of BTCS's core Ethereum blockchain infrastructure operations and aims to drive scalable revenue growth.
• ChainQ: Recognizing the demand for accessible on-chain data, BTCS announced the development of ChainQ, an AI-enhanced blockchain data and analytics platform planned for launch in 2024. Through comprehensive indexing of public blockchain data from its Blockchain Infrastructure operations, ChainQ intends to provide an intuitive and easy-to-use platform for accessing on-chain information. BTCS continues to dedicate efforts towards the research and development of ChainQ.
• Blockchain Infrastructure: Efficiency enhancement in its blockchain infrastructure operations was a key focus for BTCS in 2023. By bringing the full monitoring and maintenance of its validator nodes in-house, the company has reduced its dependency on external service providers, thereby cutting costs and paving the way for new value-added initiatives such as Builder+ and ChainQ.

Industry Highlights

StakeSeeker：StakeSeeker 於 2023 年 1 月推出，是加密分析和非託管質押即服務平台。 BTCS 的目標是透過委託給其節點的資產來獲得獎勵來增加其收費收入。該公司計劃於 2024 年向StakeSeeker 引入以太坊非託管質押，以進一步實現收入來源多元化和規模化。Builder+：Builder+ 於2024 年2 月推出，是一款創新的以太坊區塊構建器，利用複雜的演算法來優化區塊構建以進行鏈上驗證。 Builder+ 旨在提高驗證者收入並在交易Gas 費市場中競爭，它代表了BTCS 核心以太坊區塊鏈基礎設施運營的延伸，旨在推動可擴展的收入增長。ChainQ：認識到對可訪問鏈上數據的需求，BTCS 宣布了這項開發ChainQ 是一個人工智慧增強型區塊鏈數據和分析平台，計劃於2024 年推出。透過對區塊鏈基礎設施運營中的公共區塊鏈數據進行全面索引， ChainQ 旨在提供一個直覺且易於使用的平台來存取鏈上資訊。 BTCS 繼續致力於 ChainQ 的研發。區塊鏈基礎設施：提高區塊鏈基礎設施營運效率是 BTCS 2023 年的重點。透過將驗證器節點的全面監控和維護引入內部，該公司減少了對外部服務提供商的依賴，從而降低了成本，並為Builder+ 和ChainQ 等新的增值計劃鋪平了道路。行業亮點

• Bitcoin and Ethereum ETFs Impact on Market Dynamics: The crypto industry experienced a pivotal moment in 2023 with the SEC's long-awaited approval of Bitcoin (BTC) Exchange-Traded Funds (ETFs), marking a significant step towards blending digital currencies with mainstream financial mechanisms. This development, alongside the anticipation for Ethereum (ETH) ETFs in 2024, has ignited a bullish momentum across the cryptocurrency markets, showcasing a robust wave of optimism among investors. These ETFs serve as crucial bridges, connecting the traditional financial world with the crypto ecosystem, thereby facilitating a smoother entry for conventional investors into crypto assets.
• Ethereum's Evolution: Network Upgrades Fuelling Future Adoption: The Ethereum network successfully completed a major and transformative upgrade on March 13 with the "Dencun Hardfork." The upgrade aims to improve network functionality and bolster the efficiency of Layer-2 blockchain infrastructures, particularly by enhancing data storage capabilities. Such improvements are expected to facilitate a more streamlined and cost-effective environment for handling layer-2 transaction fees, signifying a leap forward in Ethereum's technological evolution.
• Adoption of Accounting Standards Update (ASU) No. 2023-08 Impact: The early adoption of ASU No. 2023-08 brought about a fundamental shift in how BTCS accounts for its crypto assets on its financial statements. The company can now recognize these assets at their fair market value compared to previously recording them at their lowest post-acquisition price. This change enables the inclusion of unrealized gains or losses on crypto assets directly in its financial results, offering a more accurate representation of its operational health.

About BTCS Inc.

比特幣和以太坊ETF 對市場動態的影響：加密產業在2023 年經歷了一個關鍵時刻，美國證券交易委員會(SEC) 期待已久地批准了比特幣(BTC) 交易所交易基金(ETF)，這標誌著數位貨幣與主流金融機制融合邁出了重要一步。這一發展，加上對 2024 年以太坊 (ETH) ETF 的預期，點燃了整個加密貨幣市場的看漲勢頭，展現了投資者強勁的樂觀情緒。這些ETF 是連接傳統金融世界與加密生態系統的重要橋樑，從而促進傳統投資者更順利地進入加密資產。以太坊的演變：網路升級推動未來的採用：以太坊網路於3 月成功完成了重大變革性升級13 與「Dencun 硬分叉」。此次升級旨在改善網路功能並提高第二層區塊鏈基礎設施的效率，特別是透過增強資料儲存能力。這些改進預計將有助於為處理第2 層交易費用提供更簡化和更具成本效益的環境，這標誌著以太坊技術發展的飛躍。採用會計準則更新(ASU) 第2023-08 號影響：早期採用ASU 第 2023-08 號令 BTCS 在其財務報表中核算其加密資產的方式發生了根本性轉變。與先前以收購後的最低價格記錄相比，該公司現在可以以公平市價確認這些資產。此變更使得加密資產的未實現收益或損失可以直接納入其財務業績，從而更準確地反映其營運狀況。 關於 BTCS Inc.

BTCS Inc. is a Nasdaq-listed company operating in the blockchain technology sector since 2014 and is one of the only U.S. publicly traded companies with a primary focus on proof-of-stake blockchain infrastructure. The company's core focus is on driving scalable growth through a diverse range of business streams leveraging and built on top of its core and proven blockchain infrastructure operations. BTCS secures and operates validator nodes on cutting-edge blockchain networks that power Web 3, earning native token rewards by staking its proof-of-stake crypto assets, with an emphasis on Ethereum.

BTCS Inc. 是一家納斯達克上市公司，自 2014 年以來一直致力於區塊鏈技術領域，也是美國僅有的一家主要專注於權益證明區塊鏈基礎設施的上市公司之一。該公司的核心重點是透過利用並建立在其核心和經過驗證的區塊鏈基礎設施運營之上的各種業務流程來推動可擴展的成長。 BTCS 在為 Web 3 提供支援的尖端區塊鏈網路上保護和運行驗證器節點，透過質押其權益證明加密資產（重點是以太坊）來賺取原生代幣獎勵。

Forward-Looking Statements

前瞻性陳述

Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws including statements regarding enhanced revenue prospects in 2024, bolstering our financial strength and future growth, aiming to diversify and scale our revenue streams further and driving scalable revenue growth, optimism for driving shareholder value, expectations for the technological evolution of Ethereum and its value creation. 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 our product offering, 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.

本新聞稿中的某些陳述構成聯邦證券法含義內的“前瞻性陳述”，包括有關2024 年收入前景增強、增強我們的財務實力和未來增長、旨在進一步多元化和擴大我們的收入流並推動可擴展的陳述收入成長、推動股東價值的樂觀情緒、對以太坊技術演變及其價值創造的期望。諸如「可能」、「可能」、「將會」、「應該」、「相信」、「期望」、「預期」、「估計」、「繼續」、「預測」、「預測」、「項目」等詞語， 「「計劃」、「打算」或類似表達，或有關意圖、信念或當前期望的陳述，均為前瞻性陳述。雖然本公司認為這些前瞻性陳述是合理的，但不應過度依賴任何此類前瞻性陳述，這些前瞻性陳述基於我們在本新聞稿發布之日掌握的資訊。這些前瞻性陳述是基於假設，並受到各種風險和不確定性的影響，包括但不限於監管問題、Builder+ 的意外問題、我們的產品提供的意外問題以及驗證者不願意嘗試或使用我們的Builder+ 產品，因為以及公司向美國證券交易委員會提交的文件中規定的風險，包括於2024 年3 月21 日提交的截至2023 年12 月31 日止年度的10-K 表格。因此，實際結果可能存在重大差異。本公司明確表示不承擔任何更新或更改聲明的義務，無論是由於新資訊、未來事件或其他原因，除非法律要求。

Investor Relations:

投資人關係：

ir@btcs.com

ir@btcs.com

Financials

金融

The tables below are derived from the Company's financial statements included in its Form 10-K filed on March 21, 2024, with the Securities and Exchange Commission. Please refer to the Form 10-K for complete financial statements and further information regarding the Company's results of operations and financial condition relating to the fiscal quarter and fiscal year ended December 31, 2023 and 2022. The Company's Form 10-K also includes a discussion of risk factors applicable to the Company and its business.

下表源自於該公司於 2024 年 3 月 21 日向美國證券交易委員會提交的 10-K 表格中所包含的財務報表。請參閱10-K 表格，以了解完整的財務報表以及有關公司截至2023 年12 月31 日和2022 年12 月31 日的財政季度和財政年度的經營業績和財務狀況的更多資訊。公司的10- K 表格還包括討論適用於公司及其業務的風險因素。

BTCS Inc.

BTCS公司

Balance Sheets

資產負債表

BTCS Inc.

20232022現金及現金等價物1870萬美元1020萬美元數位資產（按公平市場價值）2560萬美元1410萬美元其他流動資產240萬美元270萬美元總流動資產4670萬美元2700萬美元財產和設備淨額150萬美元140萬美元商譽1520萬美元1520萬美元總資產6340萬美元43.6百萬應付帳款和應計費用220 萬美元210 萬美元長期債務的流動部分50 萬美元50 萬美元長期債務，扣除流動部分530 萬美元530 萬美元流動負債總額270 萬美元260 萬美元負債總額800 萬美元840 萬美元權益總額5540 萬美元3520 萬美元BTCS Inc.

BTCS公司

Statements of Operations

經營報表

BTCS Inc.

20232022收入130萬美元170萬美元收入成本40萬美元40萬美元毛利潤90萬美元130萬美元營運費用20萬美元30萬美元淨利70萬美元(15.9)百萬美元每股淨收益0.55美元( 1.25)BTCS Inc.

BTCS公司

Statements of Cash Flows

現金流量表

20232022經營活動提供的現金淨額130萬美元20萬美元投資活動使用的現金淨額10萬美元30萬美元融資活動提供的現金淨額50萬美元20萬美元現金及現金等價物變動170萬美元10萬美元