#CryptoRegulation
✨✨BTCS, which is listed on Nasdaq, increases its ETH holdings by 57.8 million dollars✨✨💵
Following the 42% rise of Ethereum after the Pectra upgrade, BTCS accelerates its accumulation of ETH through a new financing agreement.
The publicly traded company BTCS announced a financing agreement of 57.8 million dollars 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 transaction will allow it to expand validator node operations and generate recurring revenue from Ether (ETH) staking.
BTCS CEO, Charles Allen, said that this follows the Bitcoin accumulation plan of BTC 91,103 € from the high-profile 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.
