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• BTCS is like Amazon Web Services (AWS) for blockchain networks.
• BTCS is like Mint.com for crypto portfolios.

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• Blockchain Validation Services: BTCS operates validator nodes on various proof-of-stake blockchain networks to secure them and earn rewards.
• Digital Asset Platform: A proprietary platform developed by BTCS that allows users to track and evaluate their cryptocurrency portfolio holdings across multiple exchanges and chains.

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BTCS Inc. primarily serves individuals through its proprietary Digital Asset Platform. This platform allows users to evaluate their cryptocurrency portfolio holdings across multiple exchanges and chains on a single platform.

The company's major customer categories for its Digital Asset Platform include:

• Retail Cryptocurrency Investors: Individuals who hold various digital assets across different exchanges and wallets and seek a consolidated platform for portfolio tracking and evaluation.
• Active Cryptocurrency Traders: Individuals frequently engaging in buying, selling, and managing cryptocurrencies who require a comprehensive tool to monitor their diverse and dynamic portfolios.
• New Cryptocurrency Enthusiasts: Individuals new to the digital asset space who need a user-friendly platform to understand, track, and manage their initial and growing crypto investments.

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Charles Allen, Chief Executive Officer and Chairman of the Board

Charles Allen was appointed CEO of BTCS in February 2014 and Chairman in September 2014, having joined the company shortly after its founding in 2013. He previously served as CFO of BTCS. Mr. Allen has extensive experience in business strategy, investment banking, and capital markets transactions, including financings, initial public offerings, and mergers and acquisitions. He has served as a managing director at various boutique investment banks, working on projects across technology, media, natural resources, logistics, medical services, and financial services, both domestically and internationally. His past roles include Secretary, Treasurer & Director at Innovation1 Biotech, Inc., CFO & Secretary at Pantheon China Acquisition Corp. II and III, and Managing Director at firms such as Broadband Capital Management LLC, RK Equity Capital Markets LLC, and TriPoint Global Equities LLC. Mr. Allen began his career as a mechanical engineer, worked in the compound semiconductor industry, and after earning his MBA, spent about ten years in investment banking assisting small and mid-cap companies with capital raising and public market access. He also played a role in the early stages of Marathon Digital Holdings (a Bitcoin mining company) in 2017.

Michael Prevoznik, Chief Financial Officer

Michael Prevoznik previously worked for PricewaterhouseCoopers LLP for over nine years, specializing in investment company audits for prominent asset managers within the financial services industry before joining BTCS. He is a Certified Public Accountant licensed in the state of Pennsylvania.

Michal Handerhan, Chief Operating Officer, Corporate Secretary, and Director

Michal Handerhan is a co-founder of BTCS, which was initially incorporated as Bitcoin Shop, Inc., in June 2013. He contributes to both the business and research and development strategies of the company. Prior to BTCS, Mr. Handerhan served as an independent IT and web services consultant to the National Aeronautics and Space Administration (NASA) from February 2011 to February 2014. From October 2005 until February 2014, he was the President and CEO of Meesha Media Group, LLC, a company that provided high-definition video production, Web 2.0 development, database management, and social media solutions. Earlier in his career, from March 2002 to October 2006, he was a team leader for NASA in their Peer Review Services group.

Benjamin Hunter, Chief Technology Officer

Benjamin Hunter was promoted to Chief Technology Officer at BTCS. He is recognized for his leadership in the blockchain space and was formerly a Lead Engineer at bloXroute. Mr. Hunter has led teams developing next-generation solutions for processing, relaying, and leveraging block data in decentralized environments. He is known for building systems that efficiently manage large-scale, high-volume networks, directly impacting core blockchain infrastructure.

Eldari Gogiashvili, Ethereum Team Lead

Eldari Gogiashvili leads BTCS's specialized Team Ethereum. He is an accomplished software engineering lead with a track record of building robust and scalable blockchain solutions. Mr. Gogiashvili excels at leading technical teams, solving complex problems, and driving the adoption of best practices.

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1. Volatility and Market Cycles of Digital Assets: BTCS's business is fundamentally tied to the performance and adoption of digital assets and blockchain technologies. The value of cryptocurrencies and other digital assets is highly volatile and subject to rapid fluctuations, which can significantly impact the revenue generated from operating validator nodes (often paid in native tokens) and the value of any digital assets held by the company. A sustained downturn or "bear market" in the digital asset space could severely diminish the profitability and overall financial health of BTCS.
2. Evolving Regulatory Landscape: The regulatory environment for digital assets, blockchain technology, and cryptocurrency businesses is still nascent, complex, and subject to rapid change across different jurisdictions. New laws, regulations, or enforcement actions regarding digital assets, proof-of-stake networks, or digital asset platforms could restrict BTCS's operations, increase compliance costs, require specific licenses that are difficult to obtain, or even prohibit certain aspects of its business model.
3. Technological Advancements, Competition, and Security Vulnerabilities: The blockchain and digital asset industry is characterized by rapid technological innovation and intense competition. New technologies, more efficient validator operations, or superior digital asset platforms could emerge, potentially rendering BTCS's current offerings less competitive or obsolete. Furthermore, operating in the digital asset space carries inherent cybersecurity risks, including potential hacks, exploits, or other security breaches to the underlying blockchain networks or BTCS's proprietary platform, which could lead to financial losses, reputational damage, and loss of user trust.

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The clear emerging threat for BTCS lies in its proprietary Digital Asset Platform for evaluating crypto portfolio holdings across multiple exchanges and chains. As the broader financial industry increasingly embraces digital assets, major financial institutions (e.g., traditional brokerages, banks) and large technology companies (e.g., those with existing digital wallets or personal finance platforms) are well-positioned to integrate comprehensive crypto portfolio tracking into their established ecosystems. These players possess immense resources, large existing user bases, and established trust, allowing them to offer superior, more integrated, and potentially lower-cost solutions that consolidate users' entire financial portfolios (crypto and traditional) on a single platform. This could significantly marginalize dedicated, standalone crypto portfolio tracking platforms like BTCS's, akin to how integrated smartphone platforms disrupted specialized mobile devices.

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BTCS Inc. operates within two primary addressable markets: the global crypto staking platform market and the global digital asset management market for crypto portfolio evaluation.

Crypto Staking Platform Market

The global crypto staking platform market was valued at approximately USD 6.2 billion in 2024 and is projected to reach USD 32.5 billion by 2033. Within this, the institutional staking service market alone was valued at USD 5.7 billion in 2024 and is anticipated to grow to USD 20.8 billion by 2033.

For North America, which holds the largest share of the crypto staking platform market, the market size was approximately USD 2.36 billion in 2024. Similarly, the North American institutional staking service market accounted for around USD 2.2 billion in 2024.

Digital Asset Platform Market (Crypto Portfolio Evaluation)

The global digital asset management (DAM) market, which encompasses platforms for managing digital assets including crypto portfolios, was valued at USD 5.36 billion in 2025 and is projected to reach USD 19.36 billion by 2034, exhibiting a compound annual growth rate (CAGR) of 15.10% during this period.

North America constituted a significant portion of this market, holding a 35.00% share of the global digital asset management market in 2025. This translates to an addressable market of approximately USD 1.88 billion in North America for digital asset management in 2025.

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Here are 3-5 expected drivers of future revenue growth for BTCS (symbol: BTCS) over the next 2-3 years:

1. Growth in Ethereum Staking and Block-Building Operations (NodeOps and Builder+): BTCS is positioned as a pure-play Ethereum infrastructure provider, operating validator nodes (NodeOps) and pioneering block-building operations (Builder+). These operations are the primary drivers of its historical and projected revenue growth, with the Builder+ segment specifically focusing on optimizing block construction to maximize transaction fees and maximal extractable value (MEV) on the Ethereum network.
2. Expansion of Digital Asset Treasury and DeFi Strategies (Imperium/Active Treasury): The company employs an "Active Treasury" model, strategically deploying its significant Ethereum holdings and other digital assets into staking and decentralized finance (DeFi) protocols to generate yield. This approach, including the "Imperium" business line, aims to enhance revenue streams and compound the value of its holdings, moving beyond passive asset holding.
3. Development and Adoption of the ChainQ Analytics Platform: BTCS has launched ChainQ, an AI-powered blockchain data and analytics platform. This platform is designed to provide users with an intuitive way to query real-time and historical on-chain blockchain data, adding product depth beyond its core staking and infrastructure services. This new offering is expected to contribute to revenue through software licensing and consulting fees.
4. Geographic Expansion into Institutional Markets: BTCS is pursuing geographic expansion into institutional markets, facilitated by its DeFi/TradFi flywheel capital strategy. This expansion is expected to open new avenues for revenue growth by reaching a broader client base in the institutional digital asset space.

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Share Repurchases

• BTCS Inc. announced a share repurchase program on September 8, 2025, authorizing the company to buy back up to $50 million of its common stock over three years.

Share Issuance

• BTCS raised $189 million year-to-date as of July 21, 2025, with $132 million (70%) attributed to At-The-Market (ATM) sales.
• As of July 21, 2025, the company also raised $17 million (9%) through above-market convertible debt.
• Year-to-date in 2025, BTCS raised $62.4 million in capital, including $39.5 million from at-the-market sales and $7.4 million from convertible debt.

Inbound Investments

• As of July 21, 2025, BTCS raised a total of $189 million year-to-date, sourced from ATM sales ($132 million), above-market convertible debt ($17 million), and Aave stablecoin loans (DeFi) ($40 million).
• By November 14, 2025, BTCS had successfully raised over $200 million.
• In 2025, the company aimed to raise $100 million specifically for Ethereum acquisition.

Outbound Investments

• BTCS significantly increased its Ethereum (ETH) holdings, exceeding 70,500 ETH as of December 31, 2025.
• The company strategically invests in and operates blockchain infrastructure, including NodeOps (staking) and Builder+ (block building), to generate revenue and accumulate ETH.
• The launch of the Imperium platform in 2025 represented a key investment to expand the company's addressable market and engage in decentralized finance protocols.

Capital Expenditures

• BTCS focuses on substantial ongoing investments in its blockchain infrastructure, including validator node operations and the development of its Builder+ services.
• The company is actively scaling its operations and enhancing its technology stack, indicating significant capital allocation towards infrastructure and technological advancements.