BTCS Inc. BTCS
Inc. ("BTCS" or the "Company") is a U.S.-based, Nasdaq-listed blockchain technology company focused on revenue
generation through blockchain infrastructure and decentralized finance ("DeFi") activities, primarily on the Ethereum network.
BTCS operates as an active participant in the Ethereum ecosystem, generating digital asset denominated on-chain revenues through its
operations.
Last close
1.44
2026-09-04
Market cap
$75.6M
2026-06-30 share count
52-week range
0.96 - 6.15
Valuation FY2025 figures against the last close
P/S4.6x
P/E—
P/FCF—
EV/EBITDA—
Dividend yield3.5%
Diluted EPS-1.00
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $16.5M | $4.1M | $1.3M | $1.7M | $1.2M | — | — | — | $4.5K | $355.2K |
| Cost of revenue | $14.5M | $3.1M | $359.8K | $426.4K | $268.3K | — | — | — | $160 | $263.9K |
| Gross profit | $2.0M | $946.0K | $979.9K | $1.3M | $944.9K | — | — | — | $4.3K | $91.3K |
| R&D | $679.4K | $755.8K | $687.3K | $611.8K | $712.7K | $45.5K | — | — | — | — |
| SG&A | $1.6M | $1.0M | $1.5M | $1.9M | $1.6M | $421.4K | $1.4M | $986.5K | $1.6M | $1.3M |
| Total operating expenses | $31.9M | $2.2M | $5.3M | $18.8M | $18.9M | $2.0M | $1.4M | $990.2K | $1.6M | $1.5M |
| Operating income | — | — | — | — | — | — | — | -$990.2K | -$1.6M | -$1.5M |
| Interest expense | $1.5M | — | — | — | — | $402.7K | $86.1K | — | — | $7.4K |
| Pre-tax income | -$33.4M | -$1.3M | $7.8M | -$15.9M | -$16.0M | -$2.6M | — | — | — | — |
| Income tax | $0 | $0 | $0 | $0 | $0 | $0 | — | — | — | — |
| Net income | -$33.4M | -$1.3M | $7.8M | -$15.9M | -$16.0M | -$2.6M | -$1.6M | -$826.4K | -$45.5M | -$44.3M |
| EPS, basic | -1.00 | -0.08 | 0.55 | -1.25 | -3.09 | — | — | — | — | — |
| EPS, diluted | -1.00 | -0.08 | 0.45 | -1.25 | -3.09 | -0.86 | -0.11 | -0.07 | -0.37 | -4.89 |
| Shares, diluted (wtd. avg.) | $33.2M | $16.3M | $17.5M | $12.7M | $6.8M | — | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.5M | $2.0M | $1.5M | $2.1M | $1.4M | $524.1K | $143.1K | $52.1K | $303.3K | $95.1K |
| Short-term investments | — | — | — | $100.0K | — | — | — | — | — | — |
| Total current assets | $214.0M | $38.1M | $27.0M | $4.1M | $5.5M | $1.6M | $420.0K | $60.5K | $588.2K | $95.3K |
| Property, plant and equipment | $14.4K | $7.4K | $10.5K | $11.2K | $9.8K | $230 | $1.3K | $2.7K | $1.2K | — |
| Total assets | $214.6M | $38.2M | $27.1M | $9.9M | $14.1M | $1.6M | $421.4K | $63.2K | $589.4K | $98.1K |
| Accounts payable | $38.5K | $70.4K | $55.1K | $76.7K | $51.2K | $26.3K | $28.3K | $14.2K | $76.0K | $770.5K |
| Short-term debt | — | — | — | — | — | — | — | $200.0K | — | $45.0K |
| Total current liabilities | $63.4M | $4.2M | $980.9K | $586.4K | $2.0M | $508.6K | $605.1K | $319.1K | $76.0K | $45.3M |
| Total liabilities | $75.2M | $4.2M | — | — | — | — | — | — | — | — |
| Retained earnings | -$173.3M | -$139.9M | -$138.7M | -$151.5M | -$135.6M | -$119.5M | -$117.0M | -$115.3M | -$114.5M | -$69.1M |
| Total equity | $139.4M | $34.0M | $26.2M | $14.3M | $12.1M | $1.0M | -$183.8K | -$256.0K | $513.4K | -$45.3M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$9.8M | -$3.5M | -$3.6M | -$776.8K | -$4.9M | -$3.0M | -$1.5M | -$505.6K | -$1.5M | -$828.5K |
| Depreciation and amortisation | $4.1K | $5.7K | $5.0K | $4.0K | $939 | $1.1K | $1.4K | $1.1K | $1.2K | $182.0K |
| Stock-based compensation | $657.1K | $2.4M | $1.3M | $2.6M | $15.5M | — | — | — | — | — |
| Capital expenditure | $12.8K | $2.6K | $5.3K | $5.4K | $10.5K | — | — | $2.6K | $1.5K | $14.6K |
| Investing cash flow | -$197.5M | -$2.6M | $186.0K | -$9.0M | -$9.5M | — | -$375.0K | -$2.6K | $400 | $387.2K |
| Financing cash flow | $206.8M | $6.7M | $2.7M | $10.5M | $15.2M | $3.4M | $1.6M | $257.0K | $1.7M | $411.8K |
| Dividends paid | $2.7M | — | $0 | $630.8K | $0 | — | — | — | — | — |
| Buybacks | $4.0M | — | — | — | — | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001493152-26-016836.
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| BMNR | BITMINE IMMERSION TECHNOLOGIES, INC. | $15.06B | 1.9x | 84.1% |