BTCS raises another $1.45M in financing

Investing | January 4, 2016 By:

BTCS announced that it has raised another $1.45 million in financing round led by Cavalry Fund LP.

BTCS, which now engages primarily in bitcoin mining, needed the injection of cash in order to continue operations. For several quarters, the company indicated in filings that its financial position leaves “substantial doubt about the company’s ability to continue as a going concern.”

The financing is the second for BTCS in 2015. It raised $2.3 million in April.

BTCS, formerly Bitcoin Shop, is a blockchain security company.