BTC Digital Ltd. Earnings Per Share Disclosure
| 11. | Earnings (Loss) per share |
Basic and diluted net loss per share for each of the years presented are calculated as follow:
| Year ended December 31, | ||||||||
| 2022 | 2023 | |||||||
| (in thousands of US$, except share data and per share data) | ||||||||
| (Losses)/income per share from continuing operations—basic | ||||||||
| Numerator: | ||||||||
| 5,637 | (2,824 | ) | ||||||
| Denominator | ||||||||
| Weighted average number of ordinary shares - basic | 682,779 | 1,494,333 | ||||||
| Effect of dilutive securities | ||||||||
| Dilutive effect of non-vested shares | 682,779 | 1,494,333 | ||||||
| Denominator for diluted net loss per share | ||||||||
| Earnings/(losses) per share from continuing operations — basic | 8.26 | (1.89 | ) | |||||
| Earnings/(losses) per share from continuing operations —diluted | 8.26 | (1.89 | ) | |||||
Losses per share from discontinued operations—basic | ||||||||
| Numerator: | ||||||||
| 4,670 | ||||||||
| Denominator | ||||||||
| Weighted average number of ordinary shares - basic | 682,779 | 1,494,333 | ||||||
| Effect of dilutive securities | ||||||||
| Dilutive effect of non-vested shares | 682,779 | 1,494,333 | ||||||
| Denominator for diluted net loss per share | ||||||||
| Earnings/(losses) per share from discontinued operations — basic | 6.84 | |||||||
| Earnings/(losses) per share from discontinued operations — diluted | 6.84 | |||||||
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About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.