BTCS Inc.

Listed Company

BTCSCIK 0001436229NasdaqNon-AcceleratedSmaller ReportingFinance ServicesNevadaFY ends Dec 31

Period

FY 2025

Revenue

$16.49M

Net Income

$-33.35M

Total Assets

$214.63M

Equity

$139.42M

Shares Out

49.75M

Op. Cash Flow

$-9.78M

Business

BTCS Inc. is a Nasdaq-listed blockchain technology company that operates blockchain infrastructure with a primary emphasis on proof-of-stake (PoS) and delegated proof-of-stake (dPoS) networks. It provides Ethereum block-building under the Builder+ brand, validator node operations and staking-as-a-service (NodeOps), and an AI-powered blockchain data and analytics platform called ChainQ. Key business segments include Builder+ (Ethereum block-building), NodeOps/StaaS (non-custodial validator operations across multiple PoS/dPoS networks), and ChainQ analytics. BTCS delivers services globally via cloud-based validator infrastructure, blockchain networks, cryptocurrency exchanges, and OTC desks.

Summary from filing dated 2025-03-20

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	16	4	1	2	1
Total cost of revenues	14	3	359,778	426,440	268,346
Gross profit	2	946,009	979,850	1	944,938
Professional fees	2	645,143	—	—	—
General and administrative	2	1	1	2	2
Research and development	679,434	755,813	687,288	611,758	712,736
Compensation and related expenses	4	7	3	3	16
Marketing	602,456	80,993	12,153	78,171	180,290
Realized losses on digital asset transactions	8	767,375	—	—	—
Unrealized loss (gain) on digital assets	16	−8	—	—	—
Total operating expenses	32	2	5	19	19
Interest expense	−4	—	—	—	—
Change in fair value of warrant liabilities	267,900	−54,150	—	2	4
Impairment loss on non-fungible tokens	−149,566	—	—	—	—
Loss on settlement of dividend payable	−52,793	—	—	—	—
Loss on extinguishment of debt	−9,000	—	—	—	—
Other income	—	28,000	—	—	—
Total other income (expenses)	−3	−26,150	12	2	2
Net loss	−33	−1	8	−16	−16
Basic net loss per share attributable to common stockholders	−1	−0.08	0.55	−1.25	−3.09
Diluted net loss per share attributable to common stockholders	−1	−0.08	0.45	−1.25	—
Basic weighted average number of common shares outstanding	33	16	14	13	7
Diluted weighted average number of common shares outstanding, basic and diluted	33	16	18	13	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	2	2	1	2	1
Stablecoins	2	39,545	21,044	—	—
Digital assets - treasury	2	646,539	—	—	—
Digital assets - DeFi	178	—	—	—	—
Digital assets - staked	31	35	—	—	623,754
Non-fungible tokens	41,690	—	—	—	—
Prepaid expenses	146,031	63,934	62,461	123,727	324,551
Total current assets	214	38	27	4	5
Investments, at value (Cost $600,000)	600,000	100,000	100,000	100,000	—
Property and equipment, net	14,390	7,449	10,490	11,152	9,783
Total other assets	614,390	107,449	110,490	6	9
Total Assets	215	38	27	10	14
Accounts payable and accrued expenses	38,525	70,444	55,058	76,727	138,716
Accrued compensation	2	4	712,092	295,935	7,334
Accrued interest	225,115	—	—	—	—
Loans payable - DeFi protocol	62	—	—	—	—
Warrant liabilities	—	267,900	213,750	213,750	2
Total current liabilities	63	4	980,900	586,412	2
Convertible notes payable, net	12	—	—	—	—
Total non-current liabilities	12	—	—	—	—
Total liabilities	75	4	—	—	—
Commitments and contingencies (Note 11)	—	—	—	—	—
Common Stock, $0.001 par value per share; 975,000,000 shares authorized; 46,852,737 and 18,717,743 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively	46,853	18,718	15,322	13,108	10,529
Additional paid-in capital	311	171	162	161	148
Accumulated deficit	−173	−140	−139	−151	−136
Total stockholders equity	139	34	26	14	12
Total Liabilities and Stockholders Equity	215	38	27	10	14

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation expense	4,067	5,689	5,033	4,039	939
Stock-based compensation	657,076	2	1	3	15
Blockchain infrastructure revenue	−15	−4	−1	—	—
DeFi revenue	−1	—	—	—	—
Builder payments (non-cash)	14	3	—	—	—
Blockchain network fees (non-cash)	12,284	—	—	—	—
Purchase of non-productive digital assets	−191,256	—	—	—	—
Amortization on debt discount and issuance costs	1	—	—	—	—
Stablecoins	−1	−18,501	−21,044	—	—
Prepaid expenses and other current assets	−82,097	−1,473	61,266	200,824	−292,676
Receivable for capital shares sold	—	291,440	−291,440	—	—
Accounts payable and accrued expenses	−31,919	15,386	−21,669	−62,332	112,428
Accrued compensation	1	3	416,157	288,601	−343,042
Accrued interest	225,115	—	—	—	—
Net cash used in operating activities	−10	−4	−4	−776,777	−5
Purchase of productive digital assets for validating	−201	−4	—	—	—
Sale of productive digital assets	4	901,980	—	—	—
Purchase of investments	−500,000	—	—	−100,000	—
Purchase of property and equipment	−12,759	−2,648	−5,276	−5,408	−10,491
Sale of property and equipment	1,750	—	904	—	—
Net cash used in investing activities	−197	−3	185,997	−9	−9
Net proceeds from issuance common stock/ At-the-market offering	135	7	3	11	3
Dividend distributions	−3	—	—	—	—
Payments for shares repurchased	−4	—	—	—	—
Proceeds from issuance of convertible notes, net	17	—	—	—	1
Proceeds from Defi borrowing	123	—	—	—	—
Payments to Defi borrowing	−61	—	—	—	−2
Payments of debt issuance costs	−130,989	—	—	—	—
Proceeds from disgorgement of stockholders short-swing profits	145,252	—	—	—	—
Net cash provided by financing activities	207	7	3	10	15
Net (decrease)/increase in cash	−451,383	519,451	−688,456	745,916	876,732
Cash and stablecoins paid for interest	2	—	—	—	—
Series V Preferred Stock Distribution	180,688	82,376	3	—	—
Non-cash discount on convertible notes	1	—	—	—	—
Extinguishment of USDT-denominated debt via on-chain protocol	2	—	—	—	—
Issuance of GHO-denominated debt via on-chain protocol	−2	—	—	—	—
Issuance of common stock upon non-cash exercise of warrants and stock options	8	—	—	—	—
Dividends distributions paid in ETH	495,927	—	—	—	—

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro