Publicly traded bitcoin miner BTCS, formerly known as Bitcoin Shop, has raised $1m in new funding, public records show.

According to a Form D published today by the US Securities and Exchange Commission, the Nevada-based firm sold $1m in equity. In a separate filing, the startup said that the sale had taken place on 25th May, involving four institutional investors.

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Yet a filing from March suggests that BTCS may be on shaky ground-revenue wise – an issue that has dogged the bitcoin mining startup in the past. BTCS said that it expects to report $361,000 in revenue for the year ending 31st December 2016.

"The Company expects to report a substantial increase in loss from operations which at the time of this report has yet to be dermined[sic] due to the complex nature of the Company’s derivative liabilities," the firm added in the filing.

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The notice comes days after the company's stock, as reported by Street Register Yahoo! Finance, saw its publicly traded stock jump in price, rising from roughly $0.05 to about $0.15 between 23rd and 25th May. The current price is averaging $0.08, according to data from Yahoo! Finance.

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