In last trading session, the stock price of BTCS Inc (OTCMKTS:BTCS) jumped more than 179% to close the day at $0.00615. The gains came at a share volume of 134.73 million compared to average share volume of 10.86 million. There is no apparent reason behind this sharp gains in the last week.

The buzz

BTCS has failed to come up with any operational updates in the last few months. The company last released shareholder update in the month of May. In that update, the company stated that it has improved its Ethereum-mining hosting operations to nearly 150 kilowatts, up from nearly 50kw posted in March 2016.

Charles Allen, the CEO, said that they have gained treasured expertise since introducing Ethereum pilot plan in March. Ethereum has jumped to almost 20% of the market capitalization of Bitcoin in almost two years, driven by growing support and rapid adoption from key players in finance and tech including Coinbase and Gemini which rebranded to GDAX. The company believes their experience, related with additional capital, should enable them to further expand Ethereum hosting and mining operations, to diversify exposure to bitcoin, and to utilize more of its available power capacity.

The highlights

Ethereum comes in the list of digital currency focused on smart contract apps. Resembling bitcoin-based blockchain know-how, the decentralized network of Ethereum allows transactions without censorship, fraud, downtime, or third-party intervention. Year to date, the Ether value, the digital token or fuel that supports the Ethereum network, has grown more than 1,300% the total Ether value, or market capitalization of Ether, exceeding $1 billion.

With the year-to-date jump in the problem of mining Bitcoins, and the attractive economics as of now shown by Ether, BTCS management has taken the opportunity to offer some of its early-generation ASIC servers. They have entered in preliminary talks with a designer of dedicated Ether mining servers, and they are looking to the probability of being the sole hardware assembler for the respective designer. Ether mining servers use off the shelf custom software, computer hardware and can be customized with limited capital investment.

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