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Nasdaq-Listed Blockchain Infrastructure Firm Prepares to Sell Shares to Buy Ethereum! Here Are the Details
By: bitcoin ethereum news|2025/05/15 23:30:07
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Nasdaq-listed blockchain infrastructure firm BTCS has launched a plan to raise up to $57.8 million via convertible notes, aiming to significantly expand its Ethereum (ETH) holdings at what it describes as a “critical inflection point” for the network. The Maryland-based company announced in a statement that it has signed a facility agreement with New York-based investment firm ATW Partners to issue the notes. BTCS has already secured the first $7.8 million tranche, with the remaining $50 million subject to mutual agreement. “Similar to how MicroStrategy leverages its balance sheet to accumulate Bitcoin, we are implementing a disciplined strategy to grow our Ethereum count,” said Charles Allen, BTCS Chairman and CEO. Allen personally invested $95,000 in the offering. BTCS plans to use the proceeds solely to purchase Ethereum, which has surged nearly 42% in the past week amid renewed investor confidence following the successful Pectra network upgrade. The upgrade increases scalability and efficiency on Ethereum, pushing the value of ETH to nearly $2,587 at press time. The firm said it aims to use its ETH holdings to onboard additional validators, increase staking rewards, and improve block production efficiency, which are key components of its broader revenue generation strategy. BTCS described Ethereum as a “core” asset for its business model, which encompasses validator node operations, staking services, and on-chain analytics. BTCS shares closed up 5.53% at $2.10 on Wednesday, according to Google Finance. *This is not investment advice. Source: https://en.bitcoinsistemi.com/nasdaq-listed-blockchain-infrastructure-firm-prepares-to-sell-shares-to-buy-ethereum-here-are-the-details/
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