B
BTC Digital Ltd.
BTCTCIK 0001796514NasdaqNon-AcceleratedFinance ServicesE9KYFY ends Dec 31
Period
FY 2025
Revenue
$14.04M
Net Income
$-9.06M
Total Assets
$39.92M
Equity
$37.16M
Shares Out
9.52M
Op. Cash Flow
$-5.26M
Business
BTC Digital Ltd operates as a cryptocurrency company focused on bitcoin mining and related services. The company conducts bitcoin mining and provides mining machine resale and rental services, hosting and miner management, and pursues R&D and planned crypto asset management offerings. Through its subsidiaries and an affiliated company it segments operations into mining operations, mining machine resale and rental, hosting/technical services, and research and development for mining hardware and infrastructure. It primarily operates mining facilities and hosts machines in the United States (including Arkansas and Texas), sells and rents machines to customers via referrals and commercial sales channels, and participates in global mining pools.
Summary from filing dated 2025-04-30
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | Dec 31, 2025 2025-12-31 | Dec 31, 2024 2024-12-31 | Dec 31, 2023 2023-12-31 |
|---|---|---|---|---|
| Revenues | 14 | 12 | 9 | |
| Cost of revenues | 17 | 12 | 10 | |
| Gross profit /(loss) | −3 | 115,000 | −1 | |
| Operating expenses: | — | — | — | |
| Selling and marketing expenses | 585,000 | 355,000 | 225,000 | |
| General and administrative expenses | 5 | 2 | 1 | |
| Loss from operations | −9 | −3 | −2 | |
| Other income (expenses): | — | — | — | |
| Realized gain/(loss) on exchange of digital assets | −418,000 | 713,000 | 34,000 | |
| Interest income | 191,000 | — | 1,000 | |
| Interest expenses | 62,000 | 48,000 | 63,000 | |
| Equity in income on equity method investments | 91,000 | 75,000 | 12,000 | |
| Other expenses, net | −54,000 | −51,000 | −327,000 | |
| Loss before income tax | −9 | −2 | −3 | |
| Income tax expense | — | — | — | |
| Net Loss | −9 | −2 | −3 | |
| Net Loss | −9 | −2 | −3 | |
| Net loss per share-Basic (in Dollars per share) | −1.1 | −0.66 | −1.89 | |
| Net loss per share- Diluted (in Dollars per share) | −1.1 | −0.66 | −1.89 | |
| Weighted average shares used in calculating net loss per share | — | — | — | |
| - Basic (in Shares) | 8 | 3 | 1 | |
| - Diluted (in Shares) | 8 | 3 | 1 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | Dec 31, 2025 2025-12-31 | Dec 31, 2024 2024-12-31 |
|---|---|---|---|
| Current assets | — | — | |
| Cash and cash equivalents | 350,000 | 15 | |
| Accounts receivable | 6 | 5 | |
| Prepayments and other current assets | 5 | 3 | |
| Amounts due from related parties | 1 | 400,000 | |
| Digital assets | 8 | 1 | |
| Total current assets | 19 | 25 | |
| Non-current assets | — | — | |
| Equity method investments | 4 | 4 | |
| Right-of-use asset | 343,000 | 384,000 | |
| Property and equipment, net | 16 | 12 | |
| Total non-current assets | 21 | 17 | |
| Total assets | 40 | 41 | |
| Current liabilities | — | — | |
| Accounts payable | — | 115,000 | |
| Short term loans | 2 | 484,000 | |
| Contract liabilities | — | 124,000 | |
| Current lease liability | 49,000 | 49,000 | |
| Accrued expenses and other payables | 261,000 | 121,000 | |
| Total current liabilities | 2 | 893,000 | |
| Non-current liability | — | — | |
| Lease liability | 286,000 | 320,000 | |
| Total non-current liability | 286,000 | 320,000 | |
| Total liabilities | 3 | 1 | |
| Shareholders’ equity | — | — | |
| Ordinary shares (US$0.06 par value; 200,000,000 shares authorized; 6,434,040 and 9,516,975 shares issued outstanding as of December 31, 2024 and December 31, 2025) | 553,000 | 368,000 | |
| Additional paid-in capital | 234 | 228 | |
| Accumulated deficit | −198 | −189 | |
| Total shareholders’ equity | 37 | 40 | |
| Total liabilities and shareholders’ equity | 40 | 41 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | Dec 31, 2025 2025-12-31 | Dec 31, 2024 2024-12-31 | Dec 31, 2023 2023-12-31 |
|---|---|---|---|---|
| Cash flows from operating activities: | — | — | — | |
| Net loss | −9 | −2 | −3 | |
| Adjustments to reconcile net loss to net cash generated from operating activities: | — | — | — | |
| Depreciation | 4 | 4 | 3 | |
| Realized loss/(gain) on exchange of digital assets | −418,000 | 713,000 | 34,000 | |
| Equity income on equity method investments | 91,000 | 75,000 | 12,000 | |
| Share-based compensation expenses | 2 | 571,000 | 138,000 | |
| Loss on write-off of property and equipment | −35,000 | −45,000 | — | |
| Loss on disposal of property and equipment | — | — | −357,000 | |
| Amortization of operating lease right-of-use asset | 41,000 | 10,000 | — | |
| Increase/(decrease) in accounts receivable | 746,000 | −8,000 | −3 | |
| Increase in right-of-use asset | — | 394,000 | — | |
| (Increase)/decrease in prepayments and other current assets | 780,000 | −8,000 | −3 | |
| Change of Digital assets | 909,000 | −64,000 | 311,000 | |
| Increase/(decrease) in accounts payable | −115,000 | −13,000 | −3 | |
| (Increase)/decrease in deferred revenue | −124,000 | −126,000 | 250,000 | |
| Increase/(decrease) in accrued expenses and other payables | 140,000 | 121,000 | — | |
| Increase in operating lease liability | — | 49,000 | — | |
| Increase/(decrease) of lease liability-non-current | 34,000 | −320,000 | — | |
| Net cash flow generated from/(used in) operating activities | −5 | 2 | 4 | |
| Cash flows from investing activities: | — | — | — | |
| Purchases of property and equipment | 9 | 3 | 3 | |
| Payment for investment in associate | 200,000 | — | — | |
| Repayment of advances from related parties | −475,000 | — | — | |
| Purchases of digital assets | 6 | — | — | |
| Proceeds from disposal of property and equipment | — | — | 564,000 | |
| Advances to related parties | −37,000 | 5 | 3 | |
| Advance to third party | 300,000 | — | — | |
| Repayment of advances to related parties | — | 441,000 | — | |
| Net cash used in investing activities | −15 | −7 | −5 | |
| Cash flows from financing activities: | — | — | — | |
| Proceeds from short term loans | 8 | 810,000 | 182,000 | |
| Repayment of short term loans | 6 | 451,000 | 927,000 | |
| Proceeds from issuance of ordinary shares, net of issuance costs | 4 | 20 | 2 | |
| Net cash generated from financing activities | 6 | 20 | 807,000 | |
| Net increase/(decrease) in cash and cash equivalents | −15 | 15 | −5,000 | |
| Cash and cash equivalents at the end of the year | — | — | — | |
| Cash and cash equivalents at the end of the year | — | — | — | |
| Supplemental disclosure of cash flow information: | — | — | — | |
| Interest paid | 62,000 | 21,000 | 63,000 | |
| Supplemental disclosure of non-cash flow information: | — | — | — | |
| Lease liability arising from obtaining right-of-use asset | — | 394,000 | — | |
| Non-cash issuance of common shares for the purchase of equity in a joint venture | — | 1 | — | |
| Non-cash issuance of common shares for the payment of mining facility acquisition | — | 360,000 | — | |
| Issuance of ordinary shares for previously received cash proceeds | — | 542,000 | — |
Filings
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