Blockchain technology company BTCS Inc. has completed a $10 million financing round through the issuance of convertible notes priced at a 198% premium to its recent share price, the company announced Monday. The financing closed at a conversion price of $13 per share, which is significantly higher than BTCS’s closing price of $13.00 on July 18.
The company, which operates under the name Blockchain Technology Consensus Solutions, said the new capital supports its ongoing strategy to strengthen its Ethereum reserves and blockchain infrastructure initiatives.
Ethereum Reserves Grow to $270 Million
Following the financing, BTCS reported an increase of 14,240 ETH to its holdings, bringing its total Ethereum reserves to approximately 70,028 ETH. Based on an ETH price of $3,850, the fair market value of its holdings stands near $270 million. The company noted that its ETH reserves generate revenue through staking and block building.
In addition, BTCS disclosed that during the week ending July 25, it sold 271,580 shares through its at-the-market (ATM) program in a single block trade at $6.04 per share, raising $1.64 million. As of July 28, BTCS’s total common shares outstanding number 47,852,778.
Capital Strategy Balances DeFi and Traditional Finance
BTCS’s financing move is part of its broader DeFi/TradFi Accretion Flywheel strategy, which aims to combine decentralized finance and traditional financial instruments to grow its ETH holdings and fund blockchain operations. The company has raised about $207 million year-to-date through a mix of at-the-market equity sales, above-market convertible debt, and DeFi-based borrowing.
“Surpassing $270 million in ETH reserves that are generating revenue and yield for our shareholders through NodeOps (staking) and Builder+ (block building) is a tremendous achievement,” said Charles Allen, CEO of BTCS.
BTCS operates in blockchain infrastructure services, including staking (NodeOps) and block building (Builder+). The company says its vertically integrated model is designed to optimize ETH exposure while managing shareholder dilution.
BTCS’s latest financial moves highlight continued investor interest in blockchain firms that maintain large cryptocurrency reserves while actively leveraging both decentralized and traditional financing channels. The company has positioned itself as a publicly traded entity focused specifically on Ethereum, at a time when ETH prices and staking revenues remain central to the digital asset sector.
BTCS did not announce additional planned offerings but indicated that it would continue balancing capital raising with efforts to limit dilution and increase ETH-related revenue.
