Ethereum treasury firm BTCS plans $2 billion raise to buy more crypto, new filing shows

The Block

2025-07-30 08:47:31

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Ethereum-focused blockchain tech firm BTCS Inc. said it plans to sell shares worth up to $2 billion to fund future crypto acquisitions, according to its Tuesday filing.

According to its S-3 registration statement submitted to the Securities and Exchange Commission, BTCS seeks to sell common shares across multiple offerings, with a total offering cap of $2 billion.

"We intend to use the net proceeds from the sale of the securities by us to provide additional funds for purchasing digital assets, working capital, and other general corporate purposes," BTCS wrote in the filing.

Alongside this filing, BTCS submitted an S-3 statement for the resale of over 5 million shares of common stock, stemming from existing convertible notes and warrants held by certain selling stockholders. The company said it expects to receive around $12 million from the exercise of the warrants.

BTCS is an Ethereum-first operator strategically leveraging capital markets access, staking, and block building operations to accumulate ETH and generate yield, in what it calls a "DeFi/TradFi Accretion Flywheel" strategy.

On Monday, the company announced its latest purchase of 14,240 ETH, bringing its total holdings to 70,028 ETH (approximately $265.3 million). Its stock price closed down 2.13% on Tuesday at $5.05.

The company is among a growing list of companies that accumulate Ethereum as part of their corporate strategy, including SharpLink Gaming and Bit Digital. Geoffrey Kendrick, Standard Chartered's global head of digital assets research, previously noted that ether treasuries offer stronger upside potential compared to bitcoin treasuries due to their staking rewards and access to DeFi leverage.

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