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BCTS, a bitcoin mining and consumer services firm, announced a net loss of $4.59 million in the first half of 2015. The company published this figure in its 10-Q filing with the SEC.
BCTS, a bitcoin mining and consumer services firm, announced a net loss of $4.59 million in the first half of 2015. The company published this figure in its 10-Q filing with the SEC.
According to CoinDesk:
The loss represented an increase over the roughly $4m loss incurred over the same period in 2014.
The change seems to have been driven largely by rise in non-operational costs, which rose from $205,000 to $791,000. In interview, however, CEO Charles Allen suggested that he views the report as a validation of BTCS’ recent market strategy shift.
[…] In particular, Allen cited the fact that BTCS is now spending $109 on average to mine 1 BTC, worth roughly $220 at press time. He indicated he expects this cost to lower as BTCS nears opening new North Carolina-based mining facilities.
Click here to read the full article on CoinDesk.
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