Crypto firm BTCS jumps on plan to raise $100 million to buy ethereum

BTCS

08/07/2025 14:22

** Shares of crypto firm BTCS BTCS.O jump 6.8% to $2.99 premarket

** BTCS announces intent to raise $100 million in 2025 to buy crypto token ethereum ETH=

** Planned capital raise will consist of at-the-market equity sales, convertible debt issuance, and on-chain borrowing via lending platform Aave, among other means

** BTCS held 14,600 ETH as of June 20, according to its website

** "We believe that ethereum has significant growth potential and is central to the future digital financial infrastructure. Now, with ethereum at 2021 price levels, is the time to deepen our exposure" - CEO Charles Allen

** ETH has fallen 22.7% so far this year

** Lone analyst covering the stock rates it "buy" and has $5 PT - data compiled by LSEG

** As of last close, BTCS stock was up 13.4% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com))