Blink Charging To Accept Crypto Payments Across Network, Eyes Year-End Rollout

Blink Charging (BLNK) announced on Thursday that EV drivers will soon be able to pay with Bitcoin (BTC) and other cryptocurrencies when using the company’s chargers. 

The company plans to integrate cryptocurrency payment options across the Blink Network by the end of 2025. Blink added that it plans to continue developing its cryptocurrency strategy, with additional details to be shared later this year. It stated that this could include loyalty rewards programs and other features designed to enhance driver value, with broader rollout targeted before the end of the year.

Blink’s stock fell more than 4% in midday trading, with retail sentiment on Stocktwits shifting from ‘bullish’ to ‘bearish’ over the past day. Meanwhile, the overall cryptocurrency market fell more than 2.5% over the last 24 hours. Bitcoin’s price dipped in tandem, down 2.5% and trading at around $109,400.

Chief Technology Officer Harmeet Singh, who joined the company after Blink’s acquisition of Zemetric in July, said one of the reasons for adopting cryptocurrency payments was that EV drivers “embrace the future before it becomes the norm.” He added that EVs and cryptocurrency are both major parts of the future of technology, and thus, the company is working towards bringing them together.

Blink’s stock has fallen more than 25% this year and 38% over the past 12 months. In its second-quarter (Q2) earnings, the company beat revenue estimates, reaching $28.67 million, ahead of Wall Street’s estimate of $22.15 million, according to Stocktwits data. However, its loss per share (EPS) came in worse than expected at $0.31, wider than the analysts’ forecast of a loss of $0.18.

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