BTCS will raise $57.8 million through the issuance of convertible notes for strategic acquisition of Ethereum

ChainCatcher news, according to Bitcoin.com, Nasdaq-listed blockchain company BTCS (stock code: BTCS) announced the raising of $57.8 million through convertible notes for strategic acquisition of Ethereum. The first tranche of $7.8 million in bonds has been subscribed by ATW Partners.

The company's CEO Charles Allen personally invested $95,000, and his associated trust invested $200,000. The financing will be used to purchase Ethereum to expand validation nodes and staking operations.