BTCS Inc. (BTCS): debt financing — BTCS closes $10M convertible note issuance; ETH reserves reach 70,028 worth $270M

BTCS Inc.

Closed $10M in 5% senior secured convertible notes at $13 conversion price, a 198% premium to July 18 close.
ETH reserves increased by 14,240 to 70,028, with fair market value of ~$270M based on ETH price of $3,850.
CEO's trust invested $47,500; notes mature in 24 months, accrue 6% interest, secured by all assets except certain ETH.
Sold 271,580 shares via ATM at $6.04 for $1.64M; total shares outstanding 47,852,778.
Year-to-date capital raised ~$207M through equity, convertible debt, and DeFi borrowing.

item 1.01 item 2.03 item 3.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.98

BTCS Inc. incurred convertible notes of $10,050,000 with two accredited investors at 6% per annum maturing 24 months from the closing date.

Instrument: convertible notes
Principal: $10,050,000
Counterparty: two accredited investors
Rate: 6% per annum
Maturity: 24 months from the closing date
Event: incurrence

Exact text from the filing

the Company issued to the Investors 5% Original Issue Discount Senior Secured Convertible Notes (the “Notes”) in an aggregate principal amount of $10,050,000, for a purchase price of $9,547,500.

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BTCS Inc. filing history →

Source: SEC EDGAR

accession 0001493152-25-011437

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