BTCS Inc. Announces $9.5 Million Registered Direct Offering

Silver Spring, MD, March 02, 2021 (GLOBE NEWSWIRE) — (via Blockchain Wire)  BTCS, Inc. (OTCQB: BTCS) (“BTCS”, “BTCS” or “the Company”), a digital asset and blockchain technology focused company, today announced that it has entered into a definitive agreement with institutional investors for the purchase and sale of 9,500,000 shares of its common stock and common stock warrants to purchase up to 7,125,000 shares of common stock at a combined purchase price of $1.00 per share in a registered direct offering. The common stock warrants will be immediately exercisable, have an exercise price of $1.15 per share and will expire five years from the date of issuance. The closing of the offering is expected to occur on or about March 4, 2021, subject to the satisfaction of customary closing conditions. The gross proceeds of the offering will be approximately $9.5 million before deducting placement agent fees and other offering expenses.

A.G.P./Alliance Global Partners is acting as sole placement agent for the offering.

This offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-252509) previously filed with the U.S. Securities and Exchange Commission (the “SEC”) and declared effective on February 16, 2021. A prospectus supplement describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Electronic copies of the prospectus supplement may be obtained, when available, from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at [email protected]

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About BTCS:

BTCS is an early entrant in the digital asset market and one of the first U.S. publicly traded companies focused on digital assets and blockchain technologies. The Company through its transaction verification services business actively verifies and validates blockchain transactions and is rewarded with digital assets for its work. The Company is also developing a proprietary digital asset data analytics platform that allows users to consolidate their crypto trades from multiple exchanges onto a single platform, enabling users to view and analyze their performance, risk metrics, and potential tax implications. The Company employs a digital asset treasury strategy with a primary focus on disruptive non-security protocol layer assets such as bitcoin and ethereum. For more information visit: www.btcs.com

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