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
Valuation FY2025 figures against the last close
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 | $682.8K | $401.3K | $73.2K | $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.
Others in SIC 6199
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| SOFI | SoFi Technologies, Inc. | $23.53B | 46.7x | 23.1% |
| IREN | IREN Ltd | $15.97B | — | 41.1% |
| BMNR | BITMINE IMMERSION TECHNOLOGIES, INC. | $15.06B | 1.9x | 84.1% |