The company has acquired additional servers to bring its total hashing power (once online) to almost 1 Petahash. The new operations will be housed in the companys facility.
The Companys transaction verification services business, or digital currency mining, entails running specialized servers which solve a set of prescribed calculations to add a block of verified information to the blockchain and thereby confirm bitcoin transactions. When BTCS is successful in adding a block to the blockchain, it is issued new Bitcoins.
BTCS plans to build a universal digital currency platform with the goal of enabling users to engage in the digital currency ecosystem through one point of access. The Company currently operates its public beta website where consumers can purchase products using digital currency such as Bitcoin, Litecoin and Dogecoin.
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