BTCS sees 2023 EPS above 40c through early adoption of new accounting rules

The company said, “A significant development this year was the Financial Accounting Standards Board’s (“FASB”) new accounting rules allowing cryptocurrencies to be carried at their fair market value. We plan to early adopt these rules, a decision we believe will significantly enhance the transparency and accuracy of our financial statements. This change aligns our financial reporting more closely with the economic realities of our business model. Consequently, we anticipate that if we elect to early adopt for the recent fiscal year ended December 31, 2023, our net income may exceed $6 million, with earnings per share estimated to be above $0.40 per share, with our current assets increasing by $23 million to approximately $27 million. This shift is expected to provide a clearer, more accurate reflection of our financial health and performance.”