BTCS Inc. (BTCS) ("BTCS" or the "Company"), a company focused on blockchain technology, short for Blockchain Technology Consensus Solutions, announced today a significant development in its operations on the Ethereum network. BTCS's block builder surpassed 2.7% market share of all transactions on the Ethereum network during the second quarter, an achievement that enabled the Company to qualify, on July 1st, for direct order flow from MetaMask, the leading Ethereum wallet created by ConsenSys with over 100 million users.
This development represents a crucial milestone in BTCS's efforts to scale its Builder+ block building business. MetaMask, used by millions of people around the world, is a fundamental pillar in the decentralized finance (DeFi) ecosystem and Layer 2 (L2) networks. Access to its order flow positions BTCS to capture transactions, which are projected to have higher associated fees, essential for building more profitable blocks.
The integration with MetaMask complements four other significant order flow partnerships secured during the second quarter, including Blink, Kolibrio, Cowswap, and Copium, further diversifying BTCS's order flow sources and strengthening its presence as a builder of Ethereum blocks.
"Since we entered the builder market in 2024, we have faced the classic chicken-and-egg dilemma," said Charles Allen, CEO of BTCS. "It is not possible to guarantee significant order flow unless you are building a large volume of blocks and controlling block space — and it is not possible to build profitable blocks without that order flow. With MetaMask and other companies now on board as order flow providers, we are making significant progress in establishing our market position."
As a result of our ongoing efforts to increase market share, our revenue in the second quarter is expected to be a historic record. However, our mission to control block space and win partners for order flow will have a negative impact on margins, which we expect to resolve with the continued expansion of operations.
BTCS continues to strategically increase revenue through: 1) enhancing our technology stack, 2) increasing order flow, and 3) controlling block space.
"This is more than just a technical milestone: it is a validation of our strategy and the long-term value of investing in robust and decentralized infrastructure," Allen added.