BTCS, a US-listed company, will raise $57.8 million to hoard ETH

Odaily News Blockchain technology company BTCS (NASDAQ: BTCS) announced on Wednesday that it had reached an agreement with ATW Partners to raise up to $57.8 million through convertible bonds, all of which will be used to acquire Ethereum (ETH). The first $7.8 million of bonds have been issued, and the remaining $50 million will be launched in batches based on the negotiation between the two parties.
“We are following MicroStrategy’s strategy of accumulating Bitcoin and systematically increasing our Ethereum holdings,” said Charles Allen, chairman and CEO of BTCS.
It is reported that BTCS is mainly engaged in Ethereum/BNBChain verification node operation, crypto asset staking and on-chain data analysis business.