BTCS, Inc. (also called Bitcoin Shop, Inc.) is a publicly traded company based in the US, whose 10-Q quarterly report for the first nine months of 2017 shows total revenues of only $4,480, and digital currencies valued at only $2. The 10-Q report also indicates that BTCS Inc has not mined Bitcoin since 2016.
Their stated line of business is development of applications related to blockchain databases and digital currencies.
In April 2015, according to company releases, its shares were valued at 0.30 USD or more. In July 2016, the price had dropped to 0.001 USD.In August 2017 It was reported that BTCS has signed a non-binding letter of intent with Blockchain Global Limited.
On 28 April 2015 BTC announced that it signed a letter of intent (LOI) to a merge with Spondoolies Tech, an Israeli mining hardware manufacturer. The merger initiative comes only two weeks after BTCs closed financing of US$2.3 million, where it sold 7,708,342 units of shares to two hedge fund managers who have chosen to remain anonymous, along with and 17 other investors. On 19 May 2015 BTC announced it has invested US$1.5M into Israeli digital currency server manufacturer Spondoolies-Tech, as the first step of their planned merger.
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