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Stock impact report

BTCS Reports Q1 2024 Results

BTCS Inc. (BTCS) 
NASDAQ:AMEX Investor Relations: bitcoinshop.us
Company Research Source: GlobeNewswire
Silver Spring, MD, May 15, 2024 (GLOBE NEWSWIRE) -- BTCS Inc. (Nasdaq: BTCS) (“BTCS” or the “Company”), a blockchain technology-focused company, announced its results for the three months ended March 31, 2024 (“Q1 2024”). First Quarter 2024 Financial Highlights Revenue: Q1 2024 revenue of $0.4 million increased 18% from Q4 2023 and 24% from Q1 2023.Gross Margin: 75% gross margins remain consistent for Q1 2024.Net Income: $12.3 million, or $0.78 per share, in Q1 2024 represents a record quarter for BTCS’s performance. Q1 2024 net income is a 148% increase from Q1 2023 and 13% from the previous quarter in Q4 2023. These records results are attributed primarily to the increase in fair market value of crypto assets held impacted by the continued rally of crypto markets throughout Q1 2024.Cash & Crypto Value: $39.4 million as of March 31, 2024, marking a 91% year-over-year increase. Management Commentary In the first quarter of 2024, BTCS achieved remarkable financial Show less Read more
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