Bitcoin Bancorp, Inc. (OTC: BCBC), a holder of foundational patents for Bitcoin ATMs and one of only three publicly traded Bitcoin ATM network owner/operators, announced today that it has engaged a PCAOB-registered independent public accounting firm to audit the company’s financial statements. The move marks a significant milestone in the company’s efforts to strengthen corporate governance, improve financial transparency, and prepare for a potential uplisting to higher-tier public markets, including the OTCQB and ultimately the Nasdaq Stock Market.
The audits will be conducted in accordance with standards established by the Public Company Accounting Oversight Board (PCAOB) and will cover the company’s financial reporting periods. This initiative is intended to support Bitcoin Bancorp’s transition toward SEC reporting readiness and alignment with national exchange compliance standards. The engagement of a PCAOB-registered auditor is a critical requirement for companies seeking to list on major U.S. exchanges, as it ensures that financial statements meet rigorous auditing standards.
“We are excited to begin working with a PCAOB-registered auditor as we continue strengthening our financial reporting infrastructure and positioning Bitcoin Bancorp for its next phase of growth,” said Eric Noveshen of Bitcoin Bancorp. “This milestone reflects continued progress in the company’s operational and corporate development initiatives. Completion of the audit process is expected to improve transparency and broaden visibility among investors and market participants as the company evaluates future growth opportunities.”
Bitcoin Bancorp, headquartered in Las Vegas, Nevada, is a diversified digital asset infrastructure and Banking-as-a-Service (BaaS) company focused on expanding secure retail access to cryptocurrency and next-generation financial services through licensed Bitcoin ATM networks, blockchain technologies, and Web 3.0–enabled platforms. The company, through its wholly owned subsidiary First Bitcoin Capital LLC, owns and exclusively licenses foundational intellectual property related to Bitcoin ATMs, including U.S. Patent Nos. US9135787B1 and US10332205B1.
The company’s Bitcoin ATMs are operated by licensed third-party operators within the jurisdictions in which they reside, forming a growing network of compliant retail access points for digital assets across convenience-store and retail environments. Bitcoin Bancorp is committed to advancing blockchain-enabled financial infrastructure through secure technology platforms, strategic retail partnerships, and responsible operating standards. The company is not licensed as a bank in the United States and does not provide custody or banking services.
The engagement of a PCAOB-registered auditor is a pivotal step for Bitcoin Bancorp as it works to meet the financial reporting requirements necessary for an uplisting. Currently trading on the OTC Pink market under the ticker BCBC, the company has previously announced its intention to qualify for the OTCQB Venture Market, which requires current financial reporting and an independent auditor review. Achieving OTCQB status would provide greater visibility and credibility, potentially attracting a broader investor base. The ultimate goal of a Nasdaq listing would require full SEC reporting and compliance with exchange listing standards, including corporate governance and financial disclosure requirements.
This development comes as the broader cryptocurrency and digital asset sector faces increasing regulatory scrutiny, making transparent financial reporting and strong corporate governance essential for companies seeking to build trust with investors and regulators. By proactively engaging a PCAOB-registered auditor, Bitcoin Bancorp signals its commitment to operating with integrity and transparency, which could position it favorably as the regulatory landscape evolves.
