Nasdaq-listed blockchain tech firm BTCS announced Tuesday that it has purchased 3,450 ETH to strengthen its holdings of Ethereum, which it deems a foundational asset for the company’s operations.
The latest purchase cost the company $8.42 million, at an average price of $2,441 per ether. This brings the company’s total holdings to 12,500 ETH, which is around $31.8 million at the current market price.
“Ethereum remains at the core of our blockchain infrastructure strategy,” said Charles Allen, CEO of BTCS. “By expanding our ETH position, we are strengthening the foundation that allows us to scale validator operations, grow staking revenue, and drive long-term value for shareholders.”
Last week, BTCS announced that it would issue up to $57.8 million in convertible notes through a facility in agreement with investment firm ATW Partners, with funds exclusively earmarked for acquiring ETH.
Allen said at the time that BTCS would follow a path similar to Michael Saylor’s Strategy, only that the company would increase exposure to Ethereum. The company saw Ethereum’s current position as a “critical inflection point,” Allen added.
After facing stagnant growth in early 2025, ETH has recently surged in value following the Pectra upgrade, which addressed several efficiency and scalability issues in the Ethereum network. In the past 30 days, the world’s second largest cryptocurrency rose by 53%, trading at $2,532 as of publication time.
Maryland-based blockchain firm BTCS focuses on operating validator nodes, building blocks on blockchain networks such as Ethereum and Binance Chain, staking crypto assets, and operating an onchain analytics platform.
BTCS’ stock on the Nasdaq closed up 13.5% on Tuesday at $2.68 and rose another 8.58% to $2.91 in after-hours trading, according to Google Finance data.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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