Public Blockchain Firm Pivots From Bitcoin to Ethereum With $57M Acquisition Plan

BTCS is pivoting heavily toward Ethereum, unveiling plans to accumulate up to $57.8 million in ETH as part of a broader infrastructure and staking expansion.

The blockchain company has partnered with ATW Partners to raise the funds through convertible notes, starting with an initial $7.8 million tranche.

These notes, which convert to shares at a premium, come with a 6% interest rate and include nearly 1.9 million warrants priced at $2.75. CEO Charles Allen personally backed the move with over $290,000 in contributions.

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Rather than follow the Bitcoin-heavy path of firms like MicroStrategy, BTCS is betting on Ethereum’s long-term utility. The company aims to boost staking yields and improve block production economics, citing recent Ethereum network upgrades as a key factor in the decision.

Though ETH dipped slightly to $2,545, BTCS stock jumped 5.5% on the announcement, signaling market optimism despite a broader 15% decline year-to-date.

This bold pivot places BTCS among the few public firms leading with Ethereum—not Bitcoin—as their core treasury asset.

Alexander Stefanov