BTCS Secures $57.8 Million for Ethereum Acquisition

According to Odaily, blockchain technology company BTCS (NASDAQ: BTCS) announced on Wednesday that it has reached an agreement with ATW Partners to raise up to $57.8 million through convertible bonds. The funds will be entirely used for acquiring Ethereum (ETH). An initial $7.8 million in bonds has already been issued, with the remaining $50 million to be released in phases as agreed by both parties. BTCS Chairman and CEO Charles Allen stated, "We are following MicroStrategy's strategy of accumulating Bitcoin by systematically increasing our Ethereum holdings." BTCS primarily focuses on Ethereum/BNB Chain validator node operations, cryptocurrency asset staking, and on-chain data analysis.