$VTHO

BTCS, which is listed on the Nasdaq, increases its ETH holdings by $57.8 million

Following the 42% rise in Ethereum after the Pectra upgrade, BTCS accelerates its accumulation of ETH through a new financing agreement.

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

The company, based in Rockville (Maryland), announced the agreement on May 14, stating that the deal will allow it to expand its validator node operations and generate recurring revenue from Ether (ETH) staking.

BTCS CEO Charles Allen said this follows the high-profile accumulation plan of Bitcoin

BTC

€91,697

from Strategy (formerly MicroStrategy) and will leverage Ethereum for long-term growth.

"We are executing a disciplined strategy to increase our exposure to Ethereum and drive recurring revenue through staking and our block building operations," Allen said.