Overstock Ramps Up Blockchain Spending With $8 Million Q1 Loss

Overstock Ramps Up Blockchain Spending With $8 Million Q1 Loss

Medici, the blockchain technology arm of online retailer Overstock.com, is already on pace to exceed its 2016 spending on distributed ledger R&D.

Revealed last week, Overstock reported an $8m pre-tax loss related to the effort for Q1 2017, a figure that was up from the $3m loss it observed in Q4 2016, and down slightly from the $11.8m loss it saw for fiscal year 2016.

But, the filing also showed that ‘loss’ is perhaps best viewed as an investment in the firm’s strategy to disrupt Wall Street.

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