Nasdaq-listed BTCS Expands ETH Reserves to 70,028 with $55 Million Deal

TLDR

• BTCS now holds 70,028 ETH valued at $270 million.

• $55 million worth of ETH was added in a single purchase.

• BTCS raised $10M through convertible notes at a $13 share price.

• Shares rose 6% in pre-market trading after ETH acquisition news.

BTCS Inc. has increased its Ethereum holdings with a $55 million ETH purchase, bringing total reserves to over 70,000 ETH. The company also raised funds through above-market convertible notes and stock sales as part of its broader strategy to expand operations in Ethereum-based services.

BTCS Inc., a Nasdaq-listed blockchain company, has expanded its Ethereum reserves by 14,240 ETH. This new purchase brings the firm’s total ETH holdings to 70,028 ETH.

The recent acquisition is valued at $55 million based on an ETH price of $3,850 as of Monday, with the total reserve now worth approximately $270 million.

[BTCS] BTCS Adds 14,240 ETH, Now Holds 70,028 ETH Worth $270M, Raises $207M via DeFi/TradFi Strategy and Closes $10M Convertible Note$BTCS $ETH pic.twitter.com/vGskvvOstH

— BecauseBitcoin.com (@BecauseBitcoin) July 28, 2025

The company refers to itself as an Ethereum-first operator, combining public capital access with Ethereum staking and block-building services. BTCS said the move is part of a strategy to grow both its asset base and recurring income through blockchain network participation.

In addition to the ETH acquisition, BTCS completed a $10 million offering in convertible notes. These notes carry a conversion price of $13 per share, which represents a 198% premium over its July 18 closing share price. This high premium reflects investor confidence in BTCS’s long-term strategy.

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The firm also disclosed that it sold 271,580 shares through its at-the-market (ATM) program at $6.04 per share, generating $1.64 million.

With this sale, the company’s outstanding shares increased to 47,852,778. BTCS stated these funds will be used to support Ethereum treasury expansion and infrastructure development.

BTCS has raised approximately $207 million year-to-date. This capital came from a mix of ATM equity offerings, convertible debt sales, and decentralized finance (DeFi)-based borrowing. The firm calls this combination its “DeFi/TradFi Accretion Flywheel.”

This model aims to generate leveraged exposure to Ethereum while earning staking and block-building revenue. BTCS uses its Builder+ and NodeOps platforms to actively participate in Ethereum’s ecosystem and earn recurring revenue tied to network activity.

Shares of BTCS rose by 6% in pre-market trading following the announcement, according to data from Yahoo Finance.

BTCS’s approach differs from that of other public firms with Ethereum treasury strategies. Companies such as SharpLink Gaming and Bitmine Immersion focus more on capital markets and private funding to grow their ETH holdings.

Bitmine Immersion Technologies recently reported that its Ethereum treasury surpassed 566,000 ETH. As of July 23, Bitmine’s ETH reserves were valued at more than $2 billion, with an average acquisition cost of $3,643.75 per token.

Tom Lee, Chairman of Bitmine’s Board, said,

“We are well on our way to achieving our goal of acquiring and staking 5% of the overall ETH supply.”

BTCS, in contrast, uses an integrated strategy combining DeFi borrowing, public fundraising, and active staking to increase ETH holdings while generating operational income.