Expected Term: The Company's expected term represents the weighted-average period that the Company's stock options are expected to be outstanding. The expected term is based on the expected time to post-vesting exercise of options by employees. The Company uses historical exercise patterns of previously granted options to derive employee behavioral patterns used to forecast expected exercise patterns. Effective January 2, 2022, the Board of Directors of the Company ratified the following arrangements approv ...

Crypto assets held are included in the balance sheets as either current assets or other assets if they are staked and locked up for over one year. The Company's crypto assets are initially recorded at fair value upon receipt (or "carrying value"). The fair value of crypto assets is determined using the U.S. dollar spot price of the related crypto asset. On a quarterly basis, crypto assets are measured at carrying value, net of any impairment losses incurred since receipt. The Company will record impairment ...

| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |----------------------|-------|-------|-------|-----------|---------|-------|-------------|-------|------------| | stock | - | - | - | 5,020,883 | - | - | (5,020,883) | - | - | | Fractional shares | | | | | | | | | | | adjusted for reverse | | | | | | | | | | | split | | | - | - | 14,477 | 15 | (15) | - | - | | Warrant exercise | - | - | - | - | 200,000 | 200 | 399,800 | - | 400,000 | | Stock-based | | | | | | | | | | | compensation | - | - | - ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Nevada 90-1096644 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.001 BTCS The Nasdaq Stock Market (The Nasdaq Capital Market) Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 or ☐ ...

| --- | --- | --- | --- | |-------|-------|-------|-------| | | | | | | | | | | https://www.btcs.com 1 Safe Harbor The following presentation contains statements, estimates, forecasts, and projections regarding future performance and events, which constitute forward-looking statements. Those statements include statements regarding the intent and belief or current expectations of BTCS and its management team regarding our blockchain infrastructure operations business, planned continued expansions, market opp ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Nevada 90-1096644 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 9466 Georgia Avenue #124, Silver Spring, MD 20910 (Address of principal executive offices) (Zip Code) Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.001 BTCS The Nasdaq Stock Market (The Nasdaq Capital Market) Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 ...

Financial Performance - Total assets increased to $20,475,520 in 2022 from $14,101,993 in 2021, representing a growth of approximately 45%[17] - Validator revenue surged to $563,015 in Q1 2022, up from $72,524 in Q1 2021, marking a year-over-year increase of 676%[20] - Gross profit for Q1 2022 was $425,146, compared to $57,528 in Q1 2021, reflecting a significant improvement in profitability[20] - Total operating expenses decreased to $2,252,696 in Q1 2022 from $7,976,014 in Q1 2021, a reduction of approximately 72%[20] - Net loss attributable to common stockholders narrowed to $(5,740,743) in Q1 2022 from $(11,620,571) in Q1 2021, indicating a 51% improvement[20] - The net loss for 2022 was $5,740,743, an improvement from a net loss of $6,782,175 in 2021, indicating a reduction of approximately 15.4%[29] - Net cash used in operating activities decreased to $1,055,243 in 2022 from $2,541,258 in 2021, reflecting a reduction of about 58.4%[29] - The company reported a significant impairment loss on digital assets of $3,307,428 in 2022, compared to $1,301,764 in 2021, representing an increase of approximately 154.1%[29] - The company reported an impairment loss on digital assets of approximately $3.31 million for Q1 2022[151] - Adjusted EBITDA for Q1 2022 was $(3.73) million, compared to $1.12 million in Q1 2021[145] Cash and Liquidity - Cash and cash equivalents increased to $2,245,062 in 2022 from $1,400,867 in 2021, a growth of approximately 60%[17] - Cash at the end of the period for 2022 was $2,245,062, down from $3,367,249 in 2021, a decrease of about 33.3%[29] - The company has not experienced any losses in cash accounts and believes it is not exposed to significant credit risk on cash[44] - The company has approximately $2.2 million in cash as of March 31, 2022, compared to $1.4 million at the end of 2021, indicating a growth of about 57.1%[43] - The net cash provided by financing activities in 2022 was $10,113,573, a decrease from $13,379,259 in 2021, representing a decline of about 24.5%[29] - Cash used in operating activities was $1.1 million for the three months ended March 31, 2022, a decrease from $2.5 million for the same period in 2021[161] - Cash provided by financing activities was $10.1 million during the three months ended March 31, 2022, compared to $13.4 million for the same period in 2021, primarily from proceeds of $10.5 million from the ATM Agreement[162] - The company believes that existing cash and liquid digital assets, along with funds available from the ATM Agreement, provide sufficient liquidity for at least the next twelve months[160] - The company has no long-term debt outstanding and no off-balance sheet arrangements as of March 31, 2022[163] Digital Assets and Investments - Staked digital assets/currencies rose significantly to $6,601,777 in 2022 from $623,754 in 2021, an increase of over 950%[17] - The company incurred $8,521,726 in the purchase of productive digital assets for validating in 2022, compared to $7,994,887 in 2021, reflecting an increase of approximately 6.6%[29] - The company holds a Digital Asset treasury comprised of 90 Bitcoins, focusing on non-productive assets[140] - The company sold a total of 2,268,742 shares of common stock under the ATM Agreement for gross proceeds of approximately $13.9 million at an average price of $6.12 per share[154] - Cash used in investing activities was $8.2 million for the three months ended March 31, 2022, compared to $8.0 million for the same period in 2021, primarily for the purchase of digital assets[161] Revenue and Growth Projections - Total revenues for Q1 2022 were $563,015, up by $490,491 compared to Q1 2021[147] - The company anticipates revenue guidance of $35 million for the next quarter, indicating a projected growth of approximately 16.67%[187] - New product launches are expected to contribute an additional $5 million in revenue over the next two quarters[187] - The company reported a total revenue of $30 million for the quarter, reflecting a year-over-year increase of 30%[187] User Growth and Market Expansion - The user base grew to 1.5 million active users, representing a 25% increase compared to the previous quarter[187] - Market expansion efforts are focused on entering two new regions, which are projected to add 10% to the overall user growth[187] - The company is exploring potential acquisition opportunities to enhance its market position and product offerings[187] - A strategic partnership is being developed with a leading tech firm to leverage synergies in product development[187] Operational Efficiency and Cost Management - Operational efficiency improvements are expected to reduce costs by 15% over the next fiscal year[187] - The company plans to increase its marketing budget by 20% to drive user acquisition and brand awareness[187] - The company approved a performance-based Annual Cash Incentive Plan for executives, with bonuses ranging from 48% to 107% of base salaries[119] Digital Asset Platform Development - The company plans to develop a Digital Asset Platform to aggregate user holdings and analyze performance, which will include a Staking-as-a-Service feature[34] - The company is developing a Digital Asset Platform to enhance user experience with features like portfolio monitoring and staking services[138][139] - The company plans to integrate a Staking-as-a-Service feature into its Digital Asset Platform, allowing users to earn annual percentage yields on staked assets[139] - The company has developed a Digital Asset Platform, with an open beta feature allowing users to evaluate their digital asset portfolios[122]

| --- | --- | --- | --- | |-------|-------------------------------------------------|-------|-------| | | | | | | | | | | | | Corporate Presentation BTCS Inc. (Nasdaq: BTCS) | | | | | March 16, 2022 | | | https://www.btcs.com 1 Safe Harbor The following presentation contains statements, estimates, forecasts and projections with respect to future performance and events, which constitute forward-looking statements. Those statements include statements regarding the intent and belief or current expectations of ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Nevada 90-1096644 (State or other jurisdiction of Incorporation or organization) (I.R.S. Employer Identification No.) FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 or ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to ______________ Commissions file number 001-40 ...

Financial Performance - Total assets increased to $13,133,672 in 2021 from $1,551,892 in 2020, representing a growth of approximately 747%[18] - Validator revenue for the three months ended September 30, 2021, was $323,376, compared to $0 in the same period of 2020[20] - Gross profit for the three months ended September 30, 2021, was $251,686, with a gross margin of approximately 77.9%[20] - Total operating expenses for the three months ended September 30, 2021, were $5,311,132, significantly higher than $879,954 in the same period of 2020[20] - Net loss attributable to common stockholders for the three months ended September 30, 2021, was $3,855,525, compared to a loss of $1,005,324 in 2020[20] - For the nine months ended September 30, 2021, the net loss was $15,466,585, compared to a net loss of $1,795,897 for the same period in 2020, indicating a significant increase in losses[31] - The company reported a net loss per share attributable to common stockholders of $0.59 for the three months ended September 30, 2021, compared to $0.33 in 2020[20] - Operating expenses for the nine months ended September 30, 2021, were approximately $15.6 million, compared to $1.4 million in the same period of 2020, largely due to $13.3 million in stock-based compensation expense[173] - Net loss for the nine months ended September 30, 2021, was approximately $15.5 million, up from $1.8 million in the same period of 2020[176] Cash and Assets - Cash and digital assets increased to $3,818,907 in 2021 from $1,519,787 in 2020, indicating a growth of approximately 151%[18] - The company reported a cash balance of $658,931 at the end of the period, up from $364,703 at the end of the same period in 2020[31] - As of September 30, 2021, the fair market value of the Company's liquid digital assets was approximately $6.2 million, with cash reserves of approximately $0.66 million, ensuring adequate funding for operations for at least the next twelve months[44] - The fair market value of the company's liquid digital assets was approximately $6.2 million as of September 30, 2021, indicating a stable asset base[187] - As of November 4, 2021, the fair market value of the company's digital assets was approximately $45.7 million[150] Stock and Equity - The company had a total of 10,102,711 common shares outstanding as of September 30, 2021, up from 4,201,035 shares in 2020[18] - The company executed a 1-for-10 reverse stock split effective August 13, 2021, adjusting the conversion ratios for preferred stock accordingly[39] - The Company plans to continue raising funds through the sale of common stock and issuance of debt to support operations over the next twelve months[43] - The Company raised $9.5 million through a private placement of 950,000 shares of common stock and warrants on March 4, 2021[87] - The Series C-2 Convertible Preferred Stock was subscribed for $1,100,000, with a recognized compensation expense of $179,277 due to fair value differences[94] - The Series C-2 was reclassified to permanent equity after stockholder approval on March 31, 2021, following the initial classification as temporary equity[98] - The Company issued a $1,000,000 promissory note on January 15, 2021, with similar terms as the previous note, including a 12% interest rate and a 35% discount conversion feature[79] Operational Developments - The company is developing a proprietary staking-as-a-service platform aimed at securing proof-of-stake blockchains, which is expected to be a core focus going forward[35] - A proprietary digital asset data analytics platform is under development to enable users to aggregate portfolio holdings from multiple exchanges and wallets[36] - The company has resumed its blockchain infrastructure operations, focusing on transaction validation services[35] - The company currently operates validator nodes on Ethereum's beacon chain, Cardano, Tezos, Avalanche, and Cosmos[144] - The company is developing a digital asset data analytics dashboard to allow users to evaluate their crypto portfolios across multiple exchanges[151] - The dashboard will include a staking-as-a-service feature for users to delegate tokens to company-operated validator nodes[152] Financial Strategy and Funding - The Company received net proceeds of approximately $14.6 million from various equity and debt instruments during the nine months ended September 30, 2021[44] - The company generated net cash provided by financing activities of $13,506,039 for the nine months ended September 30, 2021, compared to $1,885,494 in the same period of 2020[31] - The company has no off-balance sheet transactions or guarantees beyond normal business operations, ensuring transparency in financial reporting[188] - The company anticipates hiring a new Chief Financial Officer by December 31, 2021, following the resignation of the previous CFO on November 4, 2021[201] Compliance and Governance - The company has effective disclosure controls and procedures in place, as confirmed by the evaluation conducted by the CEO and CFO[191] - The company has filed various Inline XBRL documents to enhance transparency and compliance with regulatory requirements[211] - There were no changes in internal control over financial reporting that materially affected the company's financial reporting during the most recently completed fiscal quarter[193] - The company is currently assessing the impact of recent accounting standards on its financial statements and disclosures, including ASU 2019-12 and ASU 2020-06[73][74]