BTCS Gains Traction in its Transaction Verification Business
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The Companys pending merger with Spondoolies-Tech is expected to further accelerate growth of BTCS transaction verification services. The addition of Spondoolies third-generation Application Specific Integrated Circuit (ASIC) servers, which are anticipated to provide a 3x-5x efficiency improvement, should significantly increase the Companys hashing power and improve operating margins. The implementation of third-generation servers at the Companys North Carolina facility is expected to yield a hash rate of between 13,000 and 29,000 Th/s (trillion calculations per second). BTCS averaged a hash rate of 891 TH/s during the first half of 2015.
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Interesting that in that press release, unless I'm just not seeing it, the words "Bitcoin" and "Mining" don't appear anywhere in it. Instead they use "Transaction Verification Services" and "Hashing" as the only words that describe what they are doing.