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Bitcoin Shop Inc (OTCMKTS:BTCS) Expansion Plans

Bitcoin Shop Inc (OTCMKTS:BTCS) announced that it acquired an 83,000 square foot facility. It is working to create a well-connected universal digital currency ecosystem. The new facility is a step in the same direction. The new facility spreads on 83,000 square foot facility. It is about 1.44 times more in area compared to the area of NFL Football field. The company also launched a unique multi-signature security system at its new website.

The purchase

Bitcoin Shop is looking for attractive purchases to expand its mining operations. It not only bought the new facility but also bought 100 S35 miners from Spondoolies Tech Ltd. The miners have a hashing power of 550 TH/s. The new miners will increase the mining capacity of Bitcoin Shop Inc (OTCMKTS:BTCS) by as much as161%. The company plans to place the newly purchased equipment on its online website in two to four weeks. It would bring Bitcoin Shop’s total mining hash rate reach to 891 TH/s.

The benefits

Bitcoin shop will benefit in two ways with the purchase of new mining facility. The first benefit is an expansion of its operations and second benefit is savings on operating costs. Bitcoin Shop Inc (OTCMKTS:BTCS) operating costs including power will be almost 30% lower than the current facility. It had to make minor changes that will prepare the new facility to handle more than 10 megawatts of power and house up to 40,000 TH/s of mining hardware.

New website

In order to demonstrate its planned services, Bitcoin Shop replaced its old website with a new website that features a secure Bitcoin storage system. Bitcoin Shop Inc (OTCMKTS:BTCS) is cashing on every opportunity created by the recent decline in Bitcoin process. Presently, the focus is on cost structure as it strives to become one of the ‘lowest cost’ mining facilities in the market. With the recent measures, Bitcoin Shop is expected to yield minimum 350 Bitcoin in 1Q2015.

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