PANews reported on May 15 that according to Bitcoin.com, BTCS (stock code: BTCS), a Nasdaq-listed blockchain company, announced that it would raise $57.8 million through convertible notes for strategically increasing its holdings of Ethereum. The first $7.8 million bond has been subscribed by ATW Partners. The company's CEO Charles Allen personally invested $95,000, and his affiliated trust followed with an investment of $200,000. The financing will be used to purchase Ethereum to expand the verification node and staking business. Previously, BTCS has increased its holdings of ETH through Aave protocol lending. HC Wainwright served as the exclusive placement agent for this financing. BTCS said it will follow the MicroStrategy strategy to obtain continuous income through staking and block construction. The company also operates the ChainQ data analysis platform, and the relevant transaction details have been submitted to the SEC for filing.
BTCS, a listed company, will raise $57.8 million through the issuance of convertible notes to strategically increase its holdings of Ethereum
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