BTC Digital Ltd. Announces Launch of Ethereum (ETH) Staking Services

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Jan 29, 2024, 08:30 ET

SHENZHEN, China, Jan. 29, 2024 /PRNewswire/ -- Blockchain technology company BTC Digital Ltd. ("BTC Digital" or the "Company") (NASDAQ: BTCT) today announced the launch of its Ethereum (ETH) staking services for its customers.

This new venture marks a significant expansion for BTC Digital beyond its core Bitcoin mining operations, extending into transaction validation on the Ethereum blockchain. The move aligns with the Company's strategic objectives to diversify income sources by participating in the Ethereum's validator rewards program.

Key features of BTC Digital's ETH staking services include:

Asset custody provided by Matrixport Technologies Ltd ("Matrixport"): BTC Digital's collaboration with Matrixport aims to provide secure and reliable asset custody, offering ETH staking services clients peace of mind and safeguarding of their Ethereum holdings.
Diversification and profitability: BTC Digital's diversification into Ethereum staking aims to create additional revenue to the Company in addition to maintaining its commitment to the Bitcoin ecosystem.
Enhanced returns: Through participation in Ethereum's validator rewards program, BTC Digital hopes to increase its overall profitability and return on investment.

The launch of the ETH staking service represents a significant milestone for BTC Digital, expanding its horizons in the evolving cryptocurrency landscape.

Alan Peng, CEO of BTC Digital, stated, "We are thrilled to launch our ETH staking operations to validate transactions on the Ethereum blockchain. Our goal is to create new, predictable, and recurring digital rewards by entering another blue-chip digital asset ecosystem. It is worth noting that we will continue to invest and expand our mining operations. We believe that Bitcoin mining and ETH staking are complementary business areas that will enhance our overall profitability and returns. This is an exciting development for BTC Digital, and we expect such business strategies to increase value for all stakeholders in the long run."

About Matrixport

Founded in February 2019, Matrixport is one of the professional and compliant digital asset financial service platforms in Asia. It aims to provide simple and user-friendly crypto financial products for individuals and institutional investors globally. Matrixport's Website: https://www.matrixport.com/

About BTC Digital Ltd.

BTC Digital Ltd. is a blockchain technology company, with a long-term strategy to create value across the metaverse, blockchain and cryptocurrency mining industry. The Company is committed to developing blockchain related businesses in North America, including cryptocurrency mining, mining farm construction, mining pool and data center operation, and miner accessories business.

For more information, please visit: https://btct.investorroom.com/

Safe Harbor Statement

This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will", "expects", "anticipates", "future", "intends", "plans", "believes", "estimates", "target", "going forward", "outlook" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

SOURCE BTC Digital Ltd.