Nasdaq-listed BTCS to boost ETH holdings with $57.8M raise

BTCS bet big on Ethereum, announcing a $57.8 million agreement to scale staking and validator operations.

Publicly traded company BTCS announced a $57.8 million financing agreement led by investment firm ATW Partners to purchase Ether as it expands its blockchain infrastructure strategy. 

The Rockville, Maryland-based company announced the deal on May 14, saying that the move will allow it to expand validator node operations and build recurring revenue from Ether (ETH) staking.

BTCS CEO Charles Allen said the move follows Strategy’s (formerly MicroStrategy) high-profile Bitcoin (BTC) accumulation blueprint and will leverage Ethereum for long-term growth. 

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