Bitcoin firm BTCS reports $4.6 million net loss in H1 2015
The loss was wider than a year ago and reflected high operating expenses.
BTCS Inc (OTCMKTS:BTCS), formerly Bitcoin Shop, Inc., a Nevada-based corporation with operations in the blockchain and digital currency ecosystems, has just revealed its financial results for the second quarter and first half of 2015, with data pointing to a risk that the company may not be able to continue sustaining its operations.
The company suffered net losses in the second quarter and first half of 2015, mainly due to administrative and general expenses.
Let’s take a look at the particular metrics:
- Net loss for the quarter to June 30, 2015, was $1.25 million, marking a decrease from the net loss of $2.57 million registered in the equivalent period in 2014. Net loss for the first half of 2015 (the six months to June 30, 2015) was $4.6 million, widening the net loss of $4.02 million registered in the same period in 2014.
- Total revenues for the second quarter totaled $144,375, markedly up from $4,912 registered in the second quarter