BTCS Raises $10M via Convertible Note Offering, Boosts Ether Holdings to 70,028

BTCS Inc. has closed a $10 million convertible note offering and increased its ethereum holdings to a value exceeding $270 million.

BTCS Adds 14,240 Ethereum, Holdings Now Worth $270M

The blockchain technology company (Nasdaq: BTCS) issued approximately $10 million in convertible notes priced at $13 per share. This conversion price represents a 198% premium over BTCS’s closing stock price on July 18, 2025. Concurrently, BTCS added 14,240 ethereum (ETH) to its reserves.

The company now holds 70,028 ETH. Based on an ethereum price of $3,850, these holdings are valued at approximately $270 million. BTCS also sold 271,580 common shares during the week ending July 25 under its at-the-market (ATM) program. The shares were sold in a single block trade at $6.04 per share, generating $1.64 million.

Following these transactions, BTCS has 47,852,778 common shares outstanding. The note proceeds and ATM sales contribute to the company’s capital-raising activities.

According to the firm, year-to-date, BTCS has raised approximately $207 million. This total comprises $139 million (67%) from ATM equity sales, $52 million (25%) from borrowing via the DeFi platform Aave, and $17 million (8%) from convertible debt. The capital is used to expand the company’s ETH treasury and fund blockchain infrastructure operations.

BTCS describes its core strategy as the “DeFi/TradFi Accretion Flywheel,” focusing on accumulating ETH through mixed financing methods and generating revenue via staking (“NodeOps”) and block building (“Builder+”).

“We are hitting our stride of actively deploying capital to not only expand our ETH treasury but also fuel our blockchain infrastructure operations and are proud to continue our trajectory as the most financially and operationally leveraged ethereum play in public markets today,” Charles Allen, CEO of BTCS remarked.