BTCS has announced a deal with ATW Partners to secure a credit line, under which a bond issuance of $57.8 million will take place. The funds are planned to be directed towards purchasing Ethereum and launching validators in this network.
This is reported by Finway
As part of the agreement, BTCS has already received the first tranche of $7.8 million. ATW Partners commits to buying the remaining bonds, although the redemption timeline is not specified. The bonds will be convertible into common stock at a rate of $5.85, reflecting a 194% premium compared to the securities’ value on May 13, 2025. Additionally, these bonds will carry an interest rate of 6% per annum.
“Just as MicroStrategy [now Strategy] used its balance sheet to accumulate Bitcoin, we are implementing a disciplined strategy to increase our Ethereum presence,” said BTCS Chairman and CEO Charles Allen.
Charles Allen also invested $95,000 in this offering, while the trust he manages provided an additional $200,000. The CEO of BTCS emphasized that Ethereum is at a “turning point,” indicating his confidence in the asset’s value growth in the future. He believes that Ethereum is a cornerstone of the company’s revenue strategy.
Over the past week, the price of Ethereum has risen by more than 40%. Research has shown that the asset’s price reached $2700 but later dropped below $2600.
ETH/USDT price on the Binance exchange. Source: TradingView.
This surge in Ethereum’s price is not an isolated incident. ATW Partners has also entered into a similar agreement with the Canadian company SOL Strategies, which intends to invest the funds raised from the bond issuance in Solana and launch validators for that network.