BTC Digital Ltd. BTCT
we are a crypto asset technology company based in the U.S. with a focus on bitcoin mining. We also generate revenue through mining machines
resale and rental business operations.
December 31, 2023, we generated a substantial majority of our revenue from bitcoin mining. We store all of our bitcoins mined in hot wallets,
or cryptocurrency wallets connected to the internet, and may from time to time exchange bitcoins mined for fiat currency to generate cash
Last close
0.72
2026-10-23
Market cap
$6.9M
2025-12-31 share count
52-week range
0.43 - 2.75
Valuation FY2025 figures against the last close
P/S0.5x
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-1.10
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $14.0M | $11.7M | $9.1M | $11.8M | $114.4M | $137.5M | — | — |
| Cost of revenue | $17.2M | $11.6M | $10.2M | $10.1M | $75.9M | $93.0M | — | — |
| Gross profit | -$3.2M | $115.0K | -$1.1M | $1.8M | $38.5M | $44.4M | — | — |
| R&D | — | — | — | — | $2.9M | $4.9M | — | — |
| SG&A | $5.1M | $2.4M | $1.1M | $721.0K | $53.6M | $53.4M | — | — |
| Operating income | -$8.8M | -$2.7M | -$2.5M | $1.0M | — | — | — | — |
| Interest expense | $62.0K | $48.0K | $63.0K | $20.0K | $377.0K | $935.0K | — | — |
| Pre-tax income | -$9.1M | -$2.0M | -$2.8M | $967.0K | -$63.8M | -$62.4M | — | — |
| Income tax | — | — | — | — | $3.2M | $889.0K | — | — |
| Net income | -$9.1M | -$2.0M | -$2.8M | $7.7M | -$60.6M | -$63.3M | — | — |
| EPS, basic | -1.10 | -0.66 | -1.89 | — | -4.42 | -1.13 | — | — |
| EPS, diluted | -1.10 | -0.66 | -1.89 | — | -5.01 | -0.96 | — | — |
| Shares, diluted (wtd. avg.) | 8.2M | 3.0M | 1.5M | 682,779 | 401,335 | 73,158 | 1.6M | 47.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $350.0K | $14.9M | $43.0K | $48.0K | $25.7M | $15.8M | $23.3M | — |
| Receivables | $6.2M | $5.5M | $5.5M | $8.9M | $7.0M | $4.1M | — | — |
| Total current assets | $19.3M | $24.6M | $8.9M | $14.1M | $61.2M | $37.3M | — | — |
| Property, plant and equipment | $16.0M | $12.2M | $12.7M | $13.4M | $13.5M | $22.5M | — | — |
| Goodwill | — | — | — | $193.0M | $193.0M | $42.1M | — | — |
| Other intangibles | — | — | — | — | $2.3M | $3.0M | — | — |
| Total assets | $39.9M | $41.1M | $24.5M | $30.3M | $138.9M | $168.4M | — | — |
| Accounts payable | — | $115.0K | $128.0K | $3.5M | $2.5M | $2.6M | — | — |
| Short-term debt | $2.2M | $484.0K | $125.0K | $870.0K | — | — | — | — |
| Total current liabilities | $2.5M | $893.0K | $5.1M | $11.1M | $112.2M | $179.7M | $5.1K | — |
| Long-term debt | — | — | — | $92.8M | — | — | — | — |
| Total liabilities | $2.8M | $1.2M | $5.1M | $11.1M | $133.2M | $224.0M | $5.1K | — |
| Retained earnings | -$197.6M | -$188.6M | -$186.6M | -$183.8M | -$207.2M | -$143.5M | -$5.1K | — |
| Total equity | $37.2M | $39.9M | $19.4M | $19.3M | $5.3M | -$58.0M | -$5.1K | — |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$5.3M | $1.6M | $3.8M | -$31.0M | -$72.1M | -$52.6M | — | — |
| Depreciation and amortisation | $4.1M | $3.7M | $3.2M | $1.8M | — | — | — | — |
| Stock-based compensation | $1.8M | $571.0K | $138.0K | $849.0K | $3.7M | $8.0M | — | — |
| Capital expenditure | $8.5M | $2.7M | $2.5M | $8.9M | $11.5M | $3.9M | — | — |
| Investing cash flow | -$15.5M | -$7.0M | -$4.6M | -$2.4M | -$11.3M | -$104.0K | — | — |
| Financing cash flow | $6.2M | $20.3M | $807.0K | $7.8M | $95.4M | $44.8M | — | — |
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 0001213900-26-092955.
Plot the figures US dollars
Income statement
Revenue
Cost of revenue
Gross profit
R&D
SG&A
Total operating expenses
Operating income
Interest expense
Pre-tax income
Income tax
Net income
EPS, basic
EPS, diluted
Shares, diluted (wtd. avg.)
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | $137.5M | $114.4M | $11.8M | $9.1M | $11.7M | $14.0M |
| Gross profit | — | — | $44.4M | $38.5M | $1.8M | -$1.1M | $115.0K | -$3.2M |
| Net income | — | — | -$63.3M | -$60.6M | $7.7M | -$2.8M | -$2.0M | -$9.1M |
Recent filings and events
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Other event Item 8.01
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Other event Item 8.01
- Material agreement signed Item 1.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Material agreement signed Item 1.01
- Unregistered share sale Item 3.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Material agreement signed Item 1.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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