BTCS Inc. (BTCS) Reports Q3 2023 Results

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Go back to BTCS Inc. (BTCS) Reports Q3 2023 Results

BTCS Reports Q3 2023 Results

November 10, 2023 9:15 AM EST

Silver Spring, MD, Nov. 10, 2023 (GLOBE NEWSWIRE) -- BTCS Inc. (Nasdaq: BTCS) (BTCS or the Company), a blockchain technology-focused company, announced its results for the third quarter ending September 30, 2023 (Q3 2023).

Third Quarter 2023 Financial Highlights
Q3 2023 revenue decreased 18% from Q2 2023 and 8% from Q3 2022 as a result of depressed crypto asset prices, particularly impacting Ethereum (ETH) and Cosmos (ATOM), our two highest earning staked tokens.

Gross margins improved slightly to 74% for Q3 2023 compared to 71% for Q2 2023, with gross margins of 72% for the first nine months of 2023.

Net... More