BTCS enhances ChainQ with full Bitcoin historical data

SILVER SPRING, MARYLAND - BTCS Inc. (NASDAQ: BTCS), a blockchain technology company with a market capitalization of approximately $30 million, has announced significant upgrades to its blockchain analytics platform, ChainQ. The enhancements include the integration of the entire historical dataset of Bitcoin transactions going back to the cryptocurrency’s inception in 2009. This expansion positions ChainQ as a comprehensive tool for the analysis of Bitcoin’s blockchain data. According to InvestingPro analysis, BTCS currently appears slightly undervalued, with strong revenue growth of over 200% in the last twelve months.

The update was unveiled today by BTCS, highlighting the platform’s new capability to provide detailed insights into Bitcoin’s transaction history. Charles Allen, CEO of BTCS, emphasized the importance of the upgrade, stating, "Integrating full Bitcoin blockchain data into ChainQ marks a significant milestone in providing unparalleled access to blockchain analytics." While analysts expect continued sales growth, InvestingPro data reveals multiple additional insights about the company’s future prospects, available to subscribers.

ChainQ’s performance has also seen substantial improvements, with faster data processing and query execution now in place. These developments are designed to offer users near-instant retrieval of blockchain data and more accurate search results, thanks to optimized AI-driven indexing. Michal Handerhan, COO of BTCS, pointed out that these advancements not only expand ChainQ’s capabilities but also improve its efficiency, allowing for quicker and deeper blockchain research.

The platform’s key features now include full access to Bitcoin’s blockchain data, AI-driven search capabilities that support natural language queries, visualizations to aid data interpretation, and SQL query support for advanced analysis and data export options. Despite recent market volatility, BTCS maintains a strong liquidity position with a current ratio of 8.98, indicating robust short-term financial stability.

BTCS, known for its blockchain infrastructure operations and expertise in block building and validator node management, continues to innovate in the blockchain space. The company’s focus on scalable revenue growth through its infrastructure operations, such as Builder+ and validator nodes, positions it strategically within the evolving blockchain ecosystem.

The latest enhancements to ChainQ are part of BTCS’s commitment to facilitating user access and engagement within the blockchain space. For more information on ChainQ or to sign up for access, users can visit the platform’s website.

This news article is based on a press release statement from BTCS Inc. For comprehensive financial analysis and detailed metrics about BTCS, including 12 additional ProTips and extensive financial data, visit InvestingPro.

In other recent news, BTCS Inc. reported a record revenue of $4.1 million for 2024, marking a 204% increase from the previous year. The company’s Builder+ operation alone contributed over $2.5 million, accounting for more than half of the total revenue. BTCS has expanded its block-building operations by integrating Binance Chain, which is expected to further enhance revenue streams and improve profit margins. The company has set a revenue target of $20 million for 2025, with the addition of Binance Chain and other strategic initiatives anticipated to contribute to this goal.

BTCS also announced a partnership with ETHGas to improve transaction speed on the Ethereum network, with a $250,000 investment to become a Priority Builder in the ETHGas ecosystem. The company disclosed its crypto asset holdings valued at $36 million as of December 31, 2024. In a shift towards core blockchain operations, BTCS’s Chief Technology Officer, Manish Paranjape, resigned, aligning with the company’s decision to focus on validator operations and block building. The company plans to hire additional developers to support its growth strategy, maintaining its commitment to blockchain infrastructure and technology innovation.

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