BTCS will raise $57.8 million through the issuance of convertible notes to strategically increase its holdings of Ethereum

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According to ChainCatcher and Bitcoin.com, Nasdaq-listed blockchain company BTCS (stock code: BTCS) announced raising $57.8 million through convertible notes to strategically increase Ethereum holdings. The initial $7.8 million bond has been subscribed by ATW Partners.

Company CEO Charles Allen personally invested $95,000, with his associated trust co-investing $200,000. The financing will be used to purchase Ethereum to expand validation nodes and staking business.

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