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BTCS Inc. (NASDAQ:BTCS) filed a legal opinion Friday relating to the validity of shares that may be issued and sold under its at-the-market offering program. The filing, disclosed in a press release statement and submitted to the Securities and Exchange Commission, includes the legal opinion of Nason, Yeager, Gerson, Harris & Fumero, P.A. as Exhibit 5.1.
The at-the-market offering is conducted pursuant to an agreement originally dated September 14, 2021, between BTCS and H.C. Wainwright & Co., LLC, and is covered by the company’s Registration Statement on Form S-3 (File No. 333-289062) as well as a prospectus and supplement dated August 1, 2025.
The legal opinion addresses the validity of BTCS’s common stock with a par value of $0.001 per share, which may be issued from time to time under the program. The opinion and related consent are incorporated by reference into the registration statement.
BTCS Inc. is incorporated in Nevada and lists its common stock on the Nasdaq Stock Market under the symbol BTCS. The company’s principal executive offices are located in Silver Spring, Maryland.
This information is based on a press release statement and details contained in the company’s recent SEC filing.
In other recent news, BTCS Inc. has raised $10 million through convertible notes, expanding its Ethereum holdings to 70,028 ETH. This move increases the company’s market value of Ethereum holdings to approximately $270 million, based on an ETH price of $3,850. Additionally, BTCS has secured a $10 million convertible note agreement with ATW Partners LLC, contributing to a total market value of $242.2 million in Ethereum holdings, cash, and other liquid assets. The company has also been included in the Russell Microcap Index, a benchmark for the performance of the microcap segment of the U.S. equity market. Furthermore, BTCS reported increasing its AAVE borrowing to $17.8 million USDT, collateralized by 16,232 ETH valued at $49.1 million. The borrowing is subject to liquidation if the collateralization ratio falls below a certain threshold. These developments highlight BTCS’s strategic financial maneuvers and significant cryptocurrency holdings.
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