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The US-listed company BTCS will raise $57.8 million to accumulate ETH.
On May 15, The Block reported that blockchain technology company BTCS (NASDAQ: BTCS) announced on Wednesday an agreement with ATW Partners to finance up to $57.8 million through convertible bonds, with all funds allocated for the acquisition of Ether (ETH). The first tranche of $7.8 million in bonds has been issued, and the remaining $50 million will be launched in batches as agreed upon by both parties. BTCS Chairman and CEO Charles Allen stated, “We are following MicroStrategy’s strategy of accumulating Bitcoin, systematically increasing our Ethereum holdings.” It is reported that BTCS primarily operates Ethereum/BNBChain validation nodes, encryption asset staking, and on-chain data analysis business.