Bitcoin firm BTCS incurs net loss of $10 million in FY 2015
Bitcoin firm BTCS incurs net loss of $10 million in FY 2015 explained by professional Forex trading experts the “ForexSQ” FX trading team.
Bitcoin firm BTCS incurs net loss of $10 million in FY 2015
BTCS Inc (OTCMKTS:BTCS), formerly known as Bitcoin Shop, Inc., has just published its report for the fiscal year to December 31, 2015, with the data revealing a rise in revenues and a heavy net loss, reflecting mostly high operating expenses.
The numbers are hardly surprising for anyone monitoring the fortunes of BTCS, which has been investing in its transaction verification business (this is where the rise in revenues came from) but also reported a net loss of $4.6 million in the first half of 2015 and a net loss of $3.82 million in the third quarter of 2015, as operating expenses have been constantly high.
Highlights for FY 2015
Revenues for the year ended December 31, 2015 were $506,190 as compared to $38,214 for the year ended December 31, 2014, an increase of $467,976 or 1,225%. The bulk of the rise came from BTCS’s transaction verification services. The company has invested in and currently utilizes Spondoolies Tech Ltd. ASIC servers for its transaction verification services business.
Bitcoin firm BTCS incurs net loss of $10 million in FY 2015 Conclusion
For more information about currency trading brokers visit TopForexBrokers.com Forex brokers comparison website, Tip ForexSQ.com foreign exchange trading
experts please by share this article about Bitcoin firm BTCS incurs net loss of $10 million in FY 2015