Bitcoin miner BTCS raises $1M

posted 3 months ago
Publicly traded bitcoin miner BTCS, formerly known as Bitcoin Shop, has raised $1m in new funding, public records show.

According to a Form D published today by the US Securities and Exchange Commission, the Nevada-based firm sold $1m in equity. In a separate filing, the startup said that the sale had taken place on 25th May, involving four institutional investors.

Yet a filing from March suggests that BTCS may be on shaky ground-revenue wise – an issue that has dogged the bitcoin mining startup in the past. BTCS said that it expects to report $361,000 in revenue for the year ending 31st December 2016.
Tags: news, bitcoin