BTCS Closes $1.45 Million Financing

ARLINGTON, VA BTCS, (Marketwired Dec 22, 2015) BTCS Inc. (OTCQB: BTCS) ( BTCS or the Company ), a blockchain technology focused company which secures the blockchain through its transaction verification services business, completed a $1,450,000 financing on December 16, 2015 led by Cavalry Fund I LP. The successful closing of this round of financing is an important milestone for BTCS, stated Charles Allen, chief executive officer of BTCS. It enabled us to invest an additional $750,000 in Spondoolies-Tech Ltd. ( Spondoolies ), increasing our ownership from 6.6% to 9.6% ahead of our pending merger, and sets the stage for the rollout of their next-generation SP50 servers. The new capital we received from BTCS is expected to accelerate our SP50 server rollout. With an estimated 400% efficiency improvement over its predecessor, the SP35, getting the SP50 to market should provide us a strong competitive advantage in 2016, stated Guy Corem, chief executive officer of Spondoolies. The Company
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