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BTC Digital (BTCT) Financials

BTC Digital logo
$1.14 -0.33 (-22.45%)
As of 08/21/2026 04:00 PM Eastern
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Annual Income Statements for BTC Digital

Annual Income Statements for BTC Digital

This table shows BTC Digital's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 6.90 -32 -63 -61 7.69 -2.82 -1.99 -9.06
Consolidated Net Income / (Loss)		 7.78 -32 -63 -61 11 -2.82 -1.99 -9.06
Net Income / (Loss) Continuing Operations		 6.35 -32 -1.81 -1.90 0.97 -2.82 -1.99 -9.06
Total Pre-Tax Income 		9.88 -31 -1.81 -1.90 0.97 -2.82 -1.99 -9.06
Total Operating Income		 6.09 -33 -1.25 -1.06 1.05 -2.48 -2.68 -8.81
Total Gross Profit		 116 99 0.00 0.00 1.77 -1.14 0.12 -3.16
Total Revenue		 207 208 0.00 0.00 12 9.07 12 14
Operating Revenue		 207 208 0.00 0.00 12 9.07 12 14
Total Cost of Revenue		 91 108 0.00 0.00 10 10 12 17
Operating Cost of Revenue		 91 108 0.00 0.00 10 10 12 17
Total Operating Expenses		 110 132 1.25 1.06 0.72 1.35 2.79 5.65
Selling, General & Admin Expense		 43 65 1.25 1.06 0.72 1.12 2.44 5.07
Marketing Expense		 62 63 - - 0.00 0.23 0.36 0.59
Total Other Income / (Expense), net		 2.36 1.75 -0.56 -0.84 -0.08 -0.34 0.69 -0.20
Interest Expense		 0.00 0.35 0.00 0.00 0.02 0.06 0.05 0.06
Interest & Investment Income		 0.41 0.62 0.00 0.01 0.01 0.01 0.08 0.28
Other Income / (Expense), net		 1.95 1.49 -0.56 -0.84 -0.07 -0.29 0.66 -0.42
Income Tax Expense		 2.10 1.38 0.00 0.00 0.00 0.00 0.00 0.00
Basic Earnings per Share		 $1.04 ($136.02) ($25,521.62) ($845.55) $0.00 ($1.89) ($0.66) ($1.10)
Weighted Average Basic Shares Outstanding		 45.63M 1.61M 61.85K 454.50K 682.78K 1.49M 3.02M 8.22M
Diluted Earnings per Share		 $1.01 ($136.02) ($5,617.79) ($957.55) - ($1.89) ($0.66) ($1.10)
Weighted Average Diluted Shares Outstanding		 47.00M 1.61M 73.16K 401.34K 682.78K 1.49M 3.02M 8.22M
Weighted Average Basic & Diluted Shares Outstanding		 - - 56.87M 341.14M 20.88M 2.10M 6.43M 9.52M

Quarterly Income Statements for BTC Digital

This table shows BTC Digital's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 -1.01 -0.70 -0.73 -0.70 -0.57 0.02
Consolidated Net Income / (Loss)		 -1.01 -0.70 -0.73 -0.70 -0.57 0.02
Net Income / (Loss) Continuing Operations		 -1.01 -0.70 -0.73 -0.70 -0.57 0.02
Total Pre-Tax Income 		-1.01 -0.70 -0.73 -0.70 -0.57 0.02
Total Operating Income		 -0.69 -0.69 -1.07 -0.63 -0.54 -0.44
Total Gross Profit		 -0.54 -0.48 -0.13 -0.21 -0.26 0.72
Total Revenue		 0.85 0.94 2.65 2.33 2.56 4.14
Operating Revenue		 0.85 0.94 2.65 2.33 2.56 4.14
Total Cost of Revenue		 1.39 1.43 2.78 2.54 2.82 3.42
Operating Cost of Revenue		 1.39 1.43 2.78 2.54 2.82 3.42
Total Operating Expenses		 0.15 0.20 0.94 0.41 0.28 1.16
Selling, General & Admin Expense		 0.15 0.18 0.91 0.35 0.22 0.96
Marketing Expense		 0.00 0.03 0.04 0.06 0.06 0.20
Total Other Income / (Expense), net		 -0.31 -0.01 0.34 -0.08 -0.03 0.45
Other Income / (Expense), net		 -0.31 -0.02 0.33 -0.08 -0.08 0.49
Basic Earnings per Share		 ($0.63) ($0.47) ($0.30) ($0.27) ($0.21) $0.01
Weighted Average Basic Shares Outstanding		 1.59M 1.49M 2.44M 2.61M 2.70M 3.02M
Diluted Earnings per Share		 ($0.63) ($0.47) ($0.30) ($0.27) ($0.21) $0.01
Weighted Average Diluted Shares Outstanding		 1.59M 1.49M 2.44M 2.61M 2.70M 3.02M
Basic & Diluted Earnings per Share		 - ($0.47) - - - $0.01
Weighted Average Basic & Diluted Shares Outstanding		 - 2.10M 2.61M 2.61M 3.30M 6.43M

Annual Cash Flow Statements for BTC Digital

This table details how cash moves in and out of BTC Digital's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -20 -5.42 -16 24 -26 -0.01 15 -15
Net Cash From Operating Activities		 11 -3.10 -53 -72 -31 3.81 1.56 -5.26
Net Cash From Continuing Operating Activities		 11 -3.46 -53 -72 -31 3.81 1.56 -5.26
Net Income / (Loss) Continuing Operations		 7.78 -32 -63 -61 5.64 -2.82 -1.99 -9.06
Consolidated Net Income / (Loss)		 7.78 -32 -63 -61 5.64 -2.82 -1.99 -9.06
Depreciation Expense		 8.00 8.39 8.61 5.94 4.18 3.15 3.67 4.14
Amortization Expense		 0.00 19 19 11 1.35 0.00 0.01 0.04
Non-Cash Adjustments To Reconcile Net Income		 0.93 12 28 26 -7.07 0.14 0.26 1.25
Changes in Operating Assets and Liabilities, net		 -5.52 -11 -46 -55 -35 3.34 -0.40 -1.63
Net Cash From Investing Activities		 -11 -13 -0.10 -11 -2.36 -4.62 -7.00 -15
Net Cash From Continuing Investing Activities		 -11 -12 -0.10 -11 -2.36 -4.62 -7.00 -15
Purchase of Property, Plant & Equipment		 -9.37 -12 -3.95 -11 -8.88 -2.50 -2.74 -8.52
Purchase of Investments		 -74 0.00 -6.46 0.00 - 0.00 0.00 -0.20
Sale of Property, Plant & Equipment		 0.06 0.00 3.50 0.07 11 0.56 0.00 0.00
Other Investing Activities, net		 4.17 5.51 0.27 0.10 -2.29 -2.68 -4.26 -6.74
Net Cash From Financing Activities		 -21 10 45 95 7.75 0.81 20 6.16
Net Cash From Continuing Financing Activities		 -21 10 37 107 7.75 0.81 20 6.16
Repayment of Debt		 0.00 -2.15 -22 -24 -3.81 -0.93 -0.45 -6.14
Issuance of Debt		 0.00 15 38 20 1.04 0.18 0.81 7.82
Issuance of Common Equity		 0.00 0.03 0.00 0.00 6.46 1.55 20 4.48
Cash Income Taxes Paid		 4.23 0.62 0.04 0.02 0.10 0.06 0.02 0.06

Quarterly Cash Flow Statements for BTC Digital

This table details how cash moves in and out of BTC Digital's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Change in Cash & Equivalents		 0.15 -0.32 -0.01 0.26 -0.26 15
Net Cash From Operating Activities		 -0.36 1.76 0.17 3.50 -0.28 -1.83
Net Cash From Continuing Operating Activities		 -0.36 1.76 0.17 3.50 -0.28 -1.83
Net Income / (Loss) Continuing Operations		 -1.01 -0.70 -0.73 -0.70 -0.57 0.02
Consolidated Net Income / (Loss)		 -1.01 -0.70 -0.73 -0.70 -0.57 0.02
Depreciation Expense		 0.63 0.85 0.86 0.92 0.92 0.97
Non-Cash Adjustments To Reconcile Net Income		 0.35 -0.37 0.23 -0.06 0.03 0.07
Changes in Operating Assets and Liabilities, net		 -0.34 1.98 -0.19 3.34 -0.66 -2.89
Net Cash From Investing Activities		 -1.26 -1.54 -0.84 -3.44 -0.01 -2.71
Net Cash From Continuing Investing Activities		 -1.26 -1.54 -0.84 -3.44 -0.01 -2.71
Purchase of Property, Plant & Equipment		 - -0.67 -0.61 -3.42 -0.01 1.29
Other Investing Activities, net		 -1.26 -1.43 -0.23 -0.02 - -4.00
Net Cash From Financing Activities		 1.77 -0.55 0.66 0.20 0.03 19
Net Cash From Continuing Financing Activities		 1.77 -0.55 0.66 0.20 0.03 19
Repayment of Debt		 -0.17 -0.34 0.00 -0.34 - -0.12
Issuance of Debt		 0.06 0.13 0.18 0.54 0.03 0.06
Issuance of Common Equity		 1.88 -0.33 0.47 - - 19

Annual Balance Sheets for BTC Digital

This table presents BTC Digital's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 210 169 139 30 25 41 40
Total Current Assets		 46 37 61 14 8.94 25 19
Cash & Equivalents		 20 14 26 0.05 0.04 15 0.35
Note & Lease Receivable		 - - - - 0.44 1.09 7.57
Accounts Receivable		 5.54 5.38 0.00 8.90 5.49 5.68 6.86
Prepaid Expenses		 9.30 7.79 12 5.02 2.98 2.89 4.51
Plant, Property, & Equipment, net		 32 23 0.00 13 13 12 16
Total Noncurrent Assets		 131 117 78 2.89 2.90 4.41 4.66
Long-Term Investments		 3.75 3.78 0.00 2.89 2.90 4.02 4.31
Other Noncurrent Operating Assets		 80 67 1.39 - 0.00 0.38 0.34
Total Liabilities & Shareholders' Equity		 210 169 139 30 25 41 40
Total Liabilities		 245 225 133 11 5.10 1.21 2.76
Total Current Liabilities		 183 180 112 11 5.10 0.89 2.48
Short-Term Debt		 13 21 0.00 7.61 0.13 0.48 2.17
Accounts Payable		 2.38 10 4.79 3.46 0.13 0.24 0.26
Current Deferred Revenue		 59 53 - 0.00 0.79 0.12 0.00
Other Current Liabilities		 91 79 - - 4.06 0.05 0.05
Total Noncurrent Liabilities		 62 44 21 0.00 0.00 0.32 0.29
Other Noncurrent Operating Liabilities		 52 31 - - 0.00 0.32 0.29
Total Equity & Noncontrolling Interests		 -35 -56 5.74 19 19 40 37
Total Preferred & Common Equity		 -37 -58 3.52 19 19 40 37
Total Common Equity		 -37 -58 3.52 19 19 40 37
Common Stock		 38 86 211 203 206 229 235
Retained Earnings		 -75 -144 -207 -184 -187 -189 -198

Quarterly Balance Sheets for BTC Digital

This table presents BTC Digital's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2024 Q2 2024 Q3 2024
Period end date 3/31/2024 6/30/2024 9/30/2024
Total Assets		 25 25 25
Total Current Assets		 8.69 9.68 9.90
Cash & Equivalents		 0.03 0.29 0.03
Note & Lease Receivable		 - 0.82 0.74
Accounts Receivable		 1.73 0.44 1.69
Prepaid Expenses		 6.20 8.13 7.44
Plant, Property, & Equipment, net		 13 12 11
Total Noncurrent Assets		 3.63 2.92 4.02
Long-Term Investments		 2.91 2.92 4.02
Total Liabilities & Shareholders' Equity		 25 25 25
Total Liabilities		 4.29 5.07 4.63
Total Current Liabilities		 4.29 5.07 4.63
Short-Term Debt		 4.13 0.51 0.54
Accounts Payable		 0.16 0.09 0.00
Current Deferred Revenue		 0.00 0.67 0.29
Other Current Liabilities		 - 7.60 3.80
Total Noncurrent Liabilities		 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 20 20 20
Total Preferred & Common Equity		 20 20 20
Total Common Equity		 20 20 20
Common Stock		 208 208 209
Retained Earnings		 -187 -188 -189

Annual Metrics And Ratios for BTC Digital

This table displays calculated financial ratios and metrics derived from BTC Digital's official financial filings.

Metric 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 0.00 1.00 56,874,548.00 341,142,844.00 20,880,171.00 20,880,171.00 20,880,171.00 20,880,171.00
DEI Adjusted Shares Outstanding		 0.00 0.00 94,791.00 568,571.00 1,044,009.00 1,044,009.00 1,044,009.00 1,044,009.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 0.00 -669.77 -106.62 7.36 -2.71 -1.91 -8.68
Growth Metrics		 - - - - - - - -
Revenue Growth		 0.00% 0.28% -100.00% 0.00% 0.00% -23.31% 28.68% 20.27%
EBITDA Growth		 0.00% -121.49% 856.60% -40.92% -57.85% -94.20% 341.64% -403.00%
EBIT Growth		 0.00% -487.79% 94.18% -4.96% 151.20% -384.51% 27.33% -357.69%
NOPAT Growth		 0.00% -577.00% 96.16% 15.43% 240.96% -265.87% -7.94% -228.94%
Net Income Growth		 0.00% -515.41% -96.47% 4.52% 118.60% -125.05% 29.57% -355.56%
EPS Growth		 0.00% -515.41% -96.47% 4.52% 0.00% 0.00% 65.08% -66.67%
Operating Cash Flow Growth		 0.00% -127.09% -1,604.47% -36.53% 56.93% 112.27% -59.11% -437.70%
Free Cash Flow Firm Growth		 0.00% 0.00% -101.04% -22,885.17% 75.79% 140.26% -220.27% -187.76%
Invested Capital Growth		 0.00% 0.00% -1.34% 118.94% 165.62% -30.59% 29.18% 61.40%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 37.64% 0.00%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 114.56% 0.00%
EBIT Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 27.22% 0.00%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 8.51% 0.00%
Net Income Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 26.55% 0.00%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 34.00% 0.00%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -69.74% 0.00%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 26.90% 0.00%
Profitability Metrics		 - - - - - - - -
Gross Margin		 55.91% 47.83% 0.00% 0.00% 14.94% -12.51% 0.99% -22.50%
EBITDA Margin		 7.74% -1.66% 0.00% 0.00% 54.92% 4.16% 14.26% -35.93%
Operating Margin		 2.94% -15.72% 0.00% 0.00% 8.85% -27.34% -22.94% -62.74%
EBIT Margin		 3.88% -15.01% 0.00% 0.00% 8.24% -30.57% -17.27% -65.71%
Profit (Net Income) Margin		 3.75% -15.54% 0.00% 0.00% 95.29% -31.13% -17.04% -64.53%
Tax Burden Percent		 78.71% 104.46% 3,500.53% 3,192.01% 1,165.87% 100.00% 100.00% 100.00%
Interest Burden Percent		 122.84% 99.15% 99.96% 99.72% 99.18% 101.80% 98.66% 98.20%
Effective Tax Rate		 21.29% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 6.35% -8.56% -9.84% -21.97%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 263.46% -125.41% -8.76% 5.69%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 83.77% -6.03% 3.14% -1.54%
Return on Equity (ROE)		 0.00% 92.64% 140.09% 242.37% 90.12% -14.59% -6.70% -23.51%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% -636.21% -84.25% 27.56% -35.30% -68.94%
Operating Return on Assets (OROA)		 0.00% -14.85% 0.00% 0.00% 1.15% -10.11% -6.14% -22.77%
Return on Assets (ROA)		 0.00% -15.38% 0.00% 0.00% 13.32% -10.29% -6.06% -22.36%
Return on Common Equity (ROCE)		 0.00% 99.48% 147.90% 265.14% 82.13% -14.59% -6.70% -23.51%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 86.28% 109.01% -1,721.47% 58.48% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 4.80 -23 -0.88 -0.74 1.05 -1.74 -1.87 -6.17
NOPAT Margin		 2.31% -11.01% 0.00% 0.00% 8.85% -19.14% -16.06% -43.92%
Net Nonoperating Expense Percent (NNEP)		 0.00% -155.80% -3,159.21% 1,048.29% -257.11% 116.85% -1.08% -27.65%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - 3.89% -8.88% -4.64% -15.68%
Cost of Revenue to Revenue		 44.09% 52.17% 0.00% 0.00% 85.06% 112.51% 99.02% 122.50%
SG&A Expenses to Revenue		 20.58% 31.07% 0.00% 0.00% 6.09% 12.36% 20.88% 36.07%
R&D to Revenue		 1.84% 2.23% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 52.97% 63.56% 0.00% 0.00% 6.09% 14.84% 23.92% 40.24%
Earnings before Interest and Taxes (EBIT)		 8.05 -31 -1.81 -1.90 0.98 -2.77 -2.02 -9.23
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 16 -3.45 26 15 6.50 0.38 1.67 -5.05
Valuation Ratios		 - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.86 0.12 0.37 0.36 0.29
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.86 0.12 0.37 0.36 0.29
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 0.20 0.79 1.24 0.76
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.31 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 320.89% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.30 0.26 0.00 0.24
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 0.60 0.48 0.00 0.58
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.58 0.00 1.09 11.64 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 7.25 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 6.75 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 1.15 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.78 0.00 0.00
Leverage & Solvency		 - - - - - - - -
Debt to Equity		 0.00 -0.38 -0.46 0.00 0.39 0.01 0.01 0.06
Long-Term Debt to Equity		 0.00 0.00 -0.09 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 0.00 0.35 0.04 -0.23 0.32 0.05 -0.36 -0.27
Leverage Ratio		 0.00 -6.02 -4.18 -6.16 6.77 1.42 1.11 1.05
Compound Leverage Factor		 0.00 -5.97 -4.18 -6.14 6.71 1.44 1.09 1.03
Debt to Total Capital		 0.00% -60.95% -85.99% 0.00% 28.30% 0.64% 1.20% 5.51%
Short-Term Debt to Total Capital		 0.00% -60.95% -68.69% 0.00% 28.30% 0.64% 1.20% 5.51%
Long-Term Debt to Total Capital		 0.00% 0.00% -17.30% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% -11.88% -8.28% 38.65% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 0.00% 172.83% 194.27% 61.35% 71.70% 99.36% 98.80% 94.49%
Debt to EBITDA		 0.00 -3.83 0.99 0.00 1.17 0.33 0.29 -0.43
Net Debt to EBITDA		 0.00 3.09 0.31 0.00 0.72 -7.47 -11.07 0.50
Long-Term Debt to EBITDA		 0.00 0.00 0.20 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 -0.58 -29.35 0.00 7.27 -0.07 -0.26 -0.35
Net Debt to NOPAT		 0.00 0.47 -9.27 0.00 4.47 1.62 9.84 0.41
Long-Term Debt to NOPAT		 0.00 0.00 -5.90 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 0.00 0.00 -2.23 -2.56 -7.73 -9.61 1.54 -4.51
Noncontrolling Interest Sharing Ratio		 0.00% -7.38% -5.58% -9.39% 8.87% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - -
Current Ratio		 0.00 0.25 0.21 0.55 1.27 1.75 27.50 7.79
Quick Ratio		 0.00 0.14 0.11 0.24 0.81 1.17 24.26 5.97
Cash Flow Metrics		 - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 24 -0.25 -57 -14 5.59 -6.73 -19
Operating Cash Flow to CapEx		 122.82% -24.95% -11,822.90% -632.54% 0.00% 196.59% 56.74% -61.72%
Free Cash Flow to Firm to Interest Expense		 0.00 68.44 0.00 0.00 -694.51 88.77 -140.12 -312.15
Operating Cash Flow to Interest Expense		 9,820.34 -8.79 0.00 0.00 -1,552.30 60.44 32.44 -84.81
Operating Cash Flow Less CapEx to Interest Expense		 1,824.52 -44.04 0.00 0.00 -1,465.80 29.70 -24.73 -222.21
Efficiency Ratios		 - - - - - - - -
Asset Turnover		 0.00 0.99 0.00 0.00 0.14 0.33 0.36 0.35
Accounts Receivable Turnover		 0.00 37.54 0.00 0.00 0.00 1.26 2.09 2.24
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 6.58 0.00 0.00 0.00 0.70 0.94 1.00
Accounts Payable Turnover		 0.00 45.60 0.00 0.00 2.44 5.70 63.52 69.22
Days Sales Outstanding (DSO)		 0.00 9.72 0.00 0.00 0.00 289.39 174.48 162.96
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 8.00 0.00 0.00 149.46 64.06 5.75 5.27
Cash Conversion Cycle (CCC)		 0.00 1.72 0.00 0.00 -149.46 225.33 168.73 157.69
Capital & Investment Metrics		 - - - - - - - -
Invested Capital		 0.00 -47 -48 9.02 24 17 21 35
Invested Capital Turnover		 0.00 -8.85 0.00 0.00 0.72 0.45 0.61 0.50
Increase / (Decrease) in Invested Capital		 0.00 -47 -0.63 57 15 -7.33 4.85 13
Enterprise Value (EV)		 0.00 0.00 15 -21 7.07 4.39 -3.99 8.19
Market Capitalization		 0.00 0.00 4.39 3.01 2.40 7.20 14 11
Book Value per Share		 $0.00 ($23.22) ($58,242,235.67) $0.06 $0.06 $0.93 $13.20 $4.52
Tangible Book Value per Share		 $0.00 ($52.34) ($103,446,239.67) $0.06 $0.06 $0.93 $13.20 $4.52
Total Capital		 0.00 -22 -30 5.74 27 20 40 39
Total Debt		 0.00 13 26 0.00 7.61 0.13 0.48 2.17
Total Long-Term Debt		 0.00 0.00 5.19 0.00 0.00 0.00 0.00 0.00
Net Debt		 0.00 -11 8.14 -26 4.68 -2.82 -18 -2.50
Capital Expenditures (CapEx)		 9.31 12 0.45 11 -1.73 1.94 2.74 8.52
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 -144 -136 -77 11 3.93 9.24 19
Debt-free Net Working Capital (DFNWC)		 0.00 -124 -122 -51 11 3.97 24 19
Net Working Capital (NWC)		 0.00 -137 -143 -51 2.99 3.84 24 17
Net Nonoperating Expense (NNE)		 -2.98 9.43 63 60 -10 1.09 0.11 2.89
Net Nonoperating Obligations (NNO)		 0.00 -12 8.14 3.28 4.68 -2.82 -18 -2.50
Total Depreciation and Amortization (D&A)		 8.00 28 28 17 5.52 3.15 3.68 4.18
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% -69.25% 0.00% 0.00% 89.20% 43.26% 79.18% 132.73%
Debt-free Net Working Capital to Revenue		 0.00% -59.57% 0.00% 0.00% 89.60% 43.73% 206.80% 135.22%
Net Working Capital to Revenue		 0.00% -65.93% 0.00% 0.00% 25.29% 42.36% 202.66% 119.79%
Earnings Adjustments		 - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 ($678.00) ($88.40) $0.00 $0.00 $0.00 ($1.10)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 92.77K 681.74K 682.78K 1.49M 3.02M 8.22M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 ($576.00) ($100.20) $0.00 $0.00 $0.00 ($1.10)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 109.74K 602.00K 682.78K 1.49M 3.02M 8.22M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 94.79K 17.06M 1.04M 2.10M 6.43M 9.52M
Normalized Net Operating Profit after Tax (NOPAT)		 4.80 -23 -0.88 -0.74 0.73 -1.74 -1.87 -6.17
Normalized NOPAT Margin		 2.31% -11.01% 0.00% 0.00% 6.19% -19.14% -16.06% -43.92%
Pre Tax Income Margin		 4.77% -14.88% 0.00% 0.00% 8.17% -31.13% -17.04% -64.53%
Debt Service Ratios		 - - - - - - - -
EBIT to Interest Expense		 6,911.82 -88.58 0.00 0.00 48.75 -44.03 -42.00 -148.82
NOPAT to Interest Expense		 4,121.27 -64.97 0.00 0.00 52.35 -27.57 -39.05 -99.46
EBIT Less CapEx to Interest Expense		 -1,084.01 -123.83 0.00 0.00 135.25 -74.78 -99.17 -286.23
NOPAT Less CapEx to Interest Expense		 -3,874.56 -100.22 0.00 0.00 138.85 -58.31 -96.22 -236.86
Payout Ratios		 - - - - - - - -
Dividend Payout Ratio		 326.70% -22.35% -3.47% -27.42% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 336.37% -22.35% -7.05% -27.42% 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for BTC Digital

This table displays calculated financial ratios and metrics derived from BTC Digital's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
DEI Shares Outstanding		 20,880,171.00 20,880,171.00 20,880,171.00 20,880,171.00 20,880,171.00 20,880,171.00
DEI Adjusted Shares Outstanding		 1,044,009.00 1,044,009.00 1,044,009.00 1,044,009.00 1,044,009.00 1,044,009.00
DEI Earnings Per Adjusted Shares Outstanding		 -0.96 -0.67 -0.70 -0.67 -0.55 0.02
Growth Metrics		 - - - - - -
Revenue Growth		 0.00% 0.00% 192.17% -63.48% 202.84% 338.24%
EBITDA Growth		 0.00% 0.00% 209.91% -70.20% 181.08% 627.86%
EBIT Growth		 0.00% 0.00% 22.11% -502.56% 38.16% 106.80%
NOPAT Growth		 0.00% 0.00% -6.90% -534.34% 21.90% 8.85%
Net Income Growth		 0.00% 0.00% 25.41% -421.48% 43.30% 102.42%
EPS Growth		 0.00% 0.00% 63.86% -145.45% 66.67% 102.13%
Operating Cash Flow Growth		 0.00% 0.00% -97.22% 192.78% 21.76% -203.86%
Free Cash Flow Firm Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Invested Capital Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 29.18%
Revenue Q/Q Growth		 -86.75% 11.72% 0.00% -12.11% 9.88% 61.66%
EBITDA Q/Q Growth		 -151.53% 137.84% 0.00% 75.41% 40.19% 239.67%
EBIT Q/Q Growth		 -755.56% 29.47% 0.00% 4.73% 12.20% 107.75%
NOPAT Q/Q Growth		 -601.01% 0.86% 0.00% 41.25% 13.69% -15.71%
Net Income Q/Q Growth		 -645.93% 30.29% 0.00% 3.69% 18.89% 102.98%
EPS Q/Q Growth		 -472.73% 25.40% 0.00% 10.00% 22.22% 104.76%
Operating Cash Flow Q/Q Growth		 90.37% 584.85% 0.00% 1,933.14% -108.12% -543.66%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 39.12% -27.86% 69.43%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% -39.05% 29.26% 26.90%
Profitability Metrics		 - - - - - -
Gross Margin		 -64.02% -51.27% -4.83% -9.19% -10.20% 17.36%
EBITDA Margin		 -43.79% 14.83% 4.60% 9.19% 11.72% 24.63%
Operating Margin		 -82.13% -72.88% -40.34% -26.96% -21.18% -10.61%
EBIT Margin		 -118.46% -74.79% -27.92% -30.27% -24.19% 1.16%
Profit (Net Income) Margin		 -119.17% -74.36% -27.58% -30.23% -22.31% 0.41%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Interest Burden Percent		 100.60% 99.43% 98.78% 99.86% 92.25% 35.42%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% -27.84% -28.43% -19.51% -14.86% -6.50%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% -20.01% -25.52% -11.37% -3.93% -10.79%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 2.90% -1.49% 3.77% 0.67% 3.86%
Return on Equity (ROE)		 0.00% -24.94% -29.93% -15.74% -14.19% -2.64%
Cash Return on Invested Capital (CROIC)		 0.00% 33.63% 0.00% 0.00% 0.00% -35.30%
Operating Return on Assets (OROA)		 0.00% -24.73% -12.29% -8.31% -8.19% 0.41%
Return on Assets (ROA)		 0.00% -24.59% -12.14% -8.30% -7.55% 0.15%
Return on Common Equity (ROCE)		 0.00% -24.94% -29.93% -15.74% -14.19% -2.64%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% -12.69% -16.05% -13.25% 0.00%
Net Operating Profit after Tax (NOPAT)		 -0.49 -0.48 -0.75 -0.44 -0.38 -0.44
NOPAT Margin		 -57.49% -51.02% -28.24% -18.88% -14.83% -10.61%
Net Nonoperating Expense Percent (NNEP)		 0.00% -7.83% -2.91% -8.14% -10.93% 4.29%
Return On Investment Capital (ROIC_SIMPLE)		 - -2.46% - - - -1.09%
Cost of Revenue to Revenue		 164.02% 151.27% 104.83% 109.19% 110.20% 82.64%
SG&A Expenses to Revenue		 18.11% 18.75% 34.19% 15.16% 8.52% 23.23%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 18.11% 21.61% 35.51% 17.78% 10.98% 27.97%
Earnings before Interest and Taxes (EBIT)		 -1.00 -0.71 -0.74 -0.71 -0.62 0.05
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -0.37 0.14 0.12 0.21 0.30 1.02
Valuation Ratios		 - - - - - -
Price to Book Value (P/BV)		 0.00 0.37 0.42 0.29 0.21 0.36
Price to Tangible Book Value (P/TBV)		 0.00 0.37 0.42 0.29 0.21 0.36
Price to Revenue (P/Rev)		 0.00 0.79 0.79 0.83 0.51 1.24
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.26 0.45 0.22 0.05 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.48 0.90 0.43 0.10 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 11.64 15.95 27.25 1.07 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 1.15 0.00 0.57 0.16 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - -
Debt to Equity		 0.00 0.01 0.20 0.03 0.03 0.01
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 0.00 -0.14 0.06 -0.33 -0.17 -0.36
Leverage Ratio		 0.00 1.42 1.21 1.26 1.23 1.11
Compound Leverage Factor		 0.00 1.41 1.20 1.26 1.13 0.39
Debt to Total Capital		 0.00% 0.64% 16.91% 2.54% 2.59% 1.20%
Short-Term Debt to Total Capital		 0.00% 0.64% 16.91% 2.54% 2.59% 1.20%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 0.00% 99.36% 83.09% 97.46% 97.41% 98.80%
Debt to EBITDA		 0.00 0.33 6.77 4.81 0.70 0.29
Net Debt to EBITDA		 0.00 -7.47 1.95 -25.46 -4.52 -11.07
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 -0.07 -2.31 -0.24 -0.27 -0.26
Net Debt to NOPAT		 0.00 1.62 -0.67 1.25 1.71 9.84
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 0.00 -9.33 -8.92 -9.61 -9.46 1.71
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - -
Current Ratio		 0.00 1.75 2.03 1.91 2.14 27.50
Quick Ratio		 0.00 1.17 0.41 0.30 0.53 24.26
Cash Flow Metrics		 - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 0.00 -22 -14 -17 -5.29
Operating Cash Flow to CapEx		 0.00% 261.13% 28.43% 102.25% -2,840.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 -1,503.73 -8,652.20 0.00
Operating Cash Flow to Interest Expense		 -33.00 0.00 0.00 388.56 -142.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 -33.00 0.00 0.00 8.56 -147.00 0.00
Efficiency Ratios		 - - - - - -
Asset Turnover		 0.00 0.33 0.44 0.27 0.34 0.36
Accounts Receivable Turnover		 0.00 1.26 6.26 15.35 5.01 2.09
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.70 0.83 0.56 0.76 0.94
Accounts Payable Turnover		 0.00 5.70 75.72 90.39 0.00 63.52
Days Sales Outstanding (DSO)		 0.00 289.39 58.35 23.78 72.81 174.48
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 64.06 4.82 4.04 0.00 5.75
Cash Conversion Cycle (CCC)		 0.00 225.33 53.53 19.75 72.81 168.73
Capital & Investment Metrics		 - - - - - -
Invested Capital		 0.00 17 21 13 17 21
Invested Capital Turnover		 0.00 0.55 1.01 1.03 1.00 0.61
Increase / (Decrease) in Invested Capital		 0.00 0.00 21 13 17 4.85
Enterprise Value (EV)		 0.00 4.39 9.73 2.89 0.83 -3.99
Market Capitalization		 5.71 7.20 8.54 5.59 4.34 14
Book Value per Share		 $0.00 $0.93 $0.97 $7.50 $7.58 $13.20
Tangible Book Value per Share		 $0.00 $0.93 $0.97 $7.50 $7.58 $13.20
Total Capital		 0.00 20 24 20 21 40
Total Debt		 0.00 0.13 4.13 0.51 0.54 0.48
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 0.00 -2.82 1.19 -2.70 -3.51 -18
Capital Expenditures (CapEx)		 0.00 0.67 0.61 3.42 0.01 -1.29
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 3.93 8.50 4.83 5.78 9.24
Debt-free Net Working Capital (DFNWC)		 0.00 3.97 8.53 5.12 5.81 24
Net Working Capital (NWC)		 0.00 3.84 4.40 4.61 5.26 24
Net Nonoperating Expense (NNE)		 0.52 0.22 -0.02 0.26 0.19 -0.46
Net Nonoperating Obligations (NNO)		 0.00 -2.82 1.19 -6.50 -3.51 -18
Total Depreciation and Amortization (D&A)		 0.63 0.85 0.86 0.92 0.92 0.97
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 43.26% 78.58% 71.35% 68.14% 79.18%
Debt-free Net Working Capital to Revenue		 0.00% 43.73% 78.87% 75.59% 68.46% 206.80%
Net Working Capital to Revenue		 0.00% 42.36% 40.68% 68.06% 62.05% 202.66%
Earnings Adjustments		 - - - - - -
Adjusted Basic Earnings per Share		 $0.00 ($0.47) ($0.30) ($0.27) ($0.21) $0.01
Adjusted Weighted Average Basic Shares Outstanding		 0.00 1.49M 2.44M 2.61M 2.70M 3.02M
Adjusted Diluted Earnings per Share		 $0.00 ($0.47) ($0.30) ($0.27) ($0.21) $0.01
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 1.49M 2.44M 2.61M 2.70M 3.02M
Adjusted Basic & Diluted Earnings per Share		 $0.00 ($0.47) $0.00 $0.00 $0.00 $0.01
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 2.10M 2.61M 2.61M 3.30M 6.43M
Normalized Net Operating Profit after Tax (NOPAT)		 -0.49 -0.48 -0.75 -0.44 -0.38 -0.31
Normalized NOPAT Margin		 -57.49% -51.02% -28.24% -18.88% -14.83% -7.43%
Pre Tax Income Margin		 -119.17% -74.36% -27.58% -30.23% -22.31% 0.41%
Debt Service Ratios		 - - - - - -
EBIT to Interest Expense		 -91.00 0.00 0.00 -78.33 -309.50 0.00
NOPAT to Interest Expense		 -44.16 0.00 0.00 -48.84 -189.70 0.00
EBIT Less CapEx to Interest Expense		 -91.00 0.00 0.00 -458.33 -314.50 0.00
NOPAT Less CapEx to Interest Expense		 -44.16 0.00 0.00 -428.84 -194.70 0.00
Payout Ratios		 - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

BTC Digital Ltd. (NASDAQ: BTCT) showed a meaningful improvement in reported operating results during the fourth quarter of 2024, but the company remained dependent on financing and non-operating income to support its balance sheet. The supplied data covers quarterly results from the third quarter of 2023 through the fourth quarter of 2024, rather than a complete four-year history.

  • Revenue accelerated sharply. Q4 2024 revenue rose to $4.1 million, up from $2.6 million in Q3 2024 and $944,000 in Q4 2023. That represents approximately 62% sequential growth and 338% year-over-year growth.
  • Gross margins turned positive. Gross profit improved to $718,000 in Q4 2024, compared with gross losses of $261,000 in Q3, $214,000 in Q2 and $484,000 in Q4 2023. The gross margin reached approximately 17.4% in Q4, versus negative margins in each of the preceding comparison quarters.
  • Operating losses narrowed substantially. The Q4 operating loss was $439,000, improving from losses of $542,000 in Q3, $628,000 in Q2, $1.1 million in Q1 and $688,000 in Q4 2023. Selling, general and administrative expense also fell to $961,000 from $1.2 million in Q3.
  • Debt balances declined during 2024. Short-term debt fell from $4.1 million at the end of Q1 to $510,000 at the end of Q2 and $544,000 at the end of Q3. Total liabilities also declined from $5.1 million in Q2 to $4.6 million in Q3.
  • The company reported a small net profit in Q4. Net income was $17,000, or $0.01 per basic and diluted share, compared with a $571,000 loss in Q3 and a $702,000 loss in Q4 2023.
  • Liquidity improved significantly at the end of Q4, but primarily through equity financing. Cash increased by $14.9 million during the quarter, supported by $19.5 million of common-stock issuance. The Q3 balance sheet showed only $27,000 of cash, so the financing materially strengthened near-term liquidity.
  • Other income was an important contributor to the Q4 profit. Net other income was $450,000, allowing BTCT to offset its $439,000 operating loss. This suggests the company had not yet achieved sustainable profitability from its core operations.
  • Operating cash flow deteriorated in the latest quarter. BTCT used $1.8 million in operating cash in Q4 2024, compared with operating cash inflows of $3.5 million in Q2 and $1.8 million in Q4 2023. A $2.9 million unfavorable change in operating assets and liabilities was the primary drag.
  • Capital requirements remain high. Depreciation expense was approximately $971,000 in Q4, while the company reported $2.7 million of net investing cash outflows, including $4.0 million of other investing activity. Continued investment could pressure cash generation if revenue growth does not translate into operating cash flow.
  • Shareholder dilution is a significant risk. BTCT issued $19.5 million of common equity in Q4, and weighted-average basic shares increased from 1.5 million in Q4 2023 to 3.0 million in Q4 2024. Future funding needs could lead to additional equity issuance and further dilute existing shareholders.

The balance sheet through Q3 2024 showed positive equity of $20.4 million and a current ratio of roughly 2.1, but the quality of current assets warrants attention. Prepaid expenses totaled $7.4 million at the end of Q3, representing approximately three-quarters of current assets, while cash was just $27,000. Investors should monitor whether these prepaid balances convert into revenue or cash and whether the Q4 financing proceeds remain available after operating and investing needs.

Overall, the fourth quarter marked a clear improvement in revenue, gross margin and reported net income. However, BTCT’s core business was still operating at a loss, operating cash flow was negative, and the return to profitability depended partly on non-operating income and a large equity raise. Sustained positive operating cash flow and reduced reliance on share issuance will be key indicators of whether the improvement is durable.

08/21/26 11:06 PM ETAI Generated. May Contain Errors.

BTC Digital Financials - Frequently Asked Questions

According to the most recent income statement we have on file, BTC Digital's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

BTC Digital's net income appears to be on a downward trend, with a most recent value of -$9.06 million in 2025, falling from $7.78 million in 2018. The previous period was -$1.99 million in 2024. See where experts think BTC Digital is headed by visiting BTC Digital's forecast page.

BTC Digital's total operating income in 2025 was -$8.81 million, based on the following breakdown:
  • Total Gross Profit: -$3.16 million
  • Total Operating Expenses: $5.65 million

Over the last 7 years, BTC Digital's total revenue changed from $207.30 million in 2018 to $14.04 million in 2025, a change of -93.2%.

BTC Digital's total liabilities were at $2.76 million at the end of 2025, a 127.7% increase from 2024, and a 98.9% decrease since 2019.

In the past 6 years, BTC Digital's cash and equivalents has ranged from $43 thousand in 2023 to $26.43 million in 2021, and is currently $350 thousand as of their latest financial filing in 2025.

Over the last 7 years, BTC Digital's book value per share changed from 0.00 in 2018 to 4.52 in 2025, a change of 452.0%.


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Financial statements for NASDAQ:BTCT last updated on 8/19/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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