US Stock Market-listed company BTCS to Raise $57.8 Million to Accumulate ETH

BlockBeats News, May 15th, according to The Block, 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 a convertible bond offering, with all funds to be used for acquiring Ethereum (ETH). An initial $7.8 million bond has been issued, with the remaining $50 million to be released in batches based on mutual agreement.

BTCS Chairman and CEO Charles Allen stated, "We are emulating MicroStrategy's strategy of accumulating Bitcoin by systematically increasing our Ethereum holdings."

It is reported that BTCS's main business includes Ethereum/BNBChain staking node operation, cryptocurrency staking, and on-chain data analysis.