PANews reported on May 15 that according to Bitcoin.com, Nasdaq-listed blockchain company BTCS (stock code: BTCS) announced raising $57.8 million through convertible notes to strategically increase its Ethereum holdings. The initial $7.8 million bond was subscribed by ATW Partners. The company's CEO Charles Allen personally invested $95,000, and his associated trust co-invested $200,000. The financing will be used to purchase Ethereum to expand validation nodes and staking business. Previously, BTCS had increased ETH holdings through the Aave protocol. H.C. Wainwright served as the exclusive placement agent for this financing. BTCS stated that it will emulate MicroStrategy's strategy of generating continuous revenue through staking and blockchain construction. The company also operates the ChainQ data analysis platform, and related transaction details have been filed with the SEC.
