---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-25-011437"
form_type: "8-K"
ticker: "BTCS"
cik: "0001436229"
company_name: "BTCS Inc."
filed_at: "2025-07-28T23:59:59+00:00"
generated_at: "2026-05-18T00:13:53.261563+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# BTCS closes $10M convertible note issuance; ETH reserves reach 70,028 worth $270M

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-25-011437
- form_type: 8-K
- ticker: BTCS
- cik: 0001436229
- company_name: BTCS Inc.
- filed_at: 2025-07-28T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1436229/000149315225011437/0001493152-25-011437-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1436229/000149315225011437/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-25-011437
- JSON: https://secwatch.observer/filing/0001493152-25-011437.json
- Plain text: https://secwatch.observer/filing/0001493152-25-011437.txt

## Key facts
- Debt Financings
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1436229/000149315225011437/0001493152-25-011437-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.