Blockchain technology firm BTCS Inc. has announced plans to raise up to $2 billion through stock offerings to significantly expand its Ethereum holdings and staking operations.
The company detailed its strategy following the filing of a Form S-3 shelf registration statement with the U.S. Securities and Exchange Commission (SEC). This registration grants BTCS flexibility to access capital markets, allowing it to issue common stock, preferred stock, and warrants over time to fund its growth objectives.
BTCS intends to use the proceeds to acquire additional Ethereum, building upon its current holdings of approximately 70,028 ETH valued at $265.3 million. An additional estimated $12 million is expected from the exercise of existing warrants, earmarked to support working capital needs.
This move reinforces BTCS’s strategic pivot to an exclusive Ethereum-first approach. The company is focusing resources on running Ethereum validators and enhancing its Builder+ program, aimed at optimizing block production efficiency on the Ethereum network.
To fund its ambitions, BTCS employs a hybrid capital strategy. This combines traditional public securities offerings, specifically At-The-Market (ATM) transactions under the S-3, with on-chain borrowing mechanisms utilizing decentralized protocols like Aave.