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BTCT

BTC Digital Ltd.

BTCT

BTC Digital Ltd. • NASDAQ
$1.89 ▲ 7.39% (+0.13)
Market Cap $17.99 M
52w High $18.75
52w Low $1.57
Dividend Yield 0%
P/E -2.86
Volume 78.16K
Outstanding Shares 9.52M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2024 $4.137M ▲ $1.157M ▲ $17K ▲ 0.411% ▲ $0.003 ▲ $1.029M ▲
Q3-2024 $2.559M ▲ $281K ▼ $-571K ▲ -22.313% ▲ $-0.004 ▲ $350K ▲
Q2-2024 $2.329M ▼ $414K ▼ $-704K ▲ -30.228% ▼ $-0.005 ▲ $224K ▲
Q1-2024 $2.65M ▲ $941K ▲ $-731K ▼ -27.585% ▲ $-0.006 ▲ $137K ▼
Q4-2023 $944K $204K $-702K -74.364% $-0.009 $146K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2024 $14.9M ▲ $41.13M ▲ $1.213M ▼ $39.917M ▲
Q3-2024 $27K ▼ $25.063M ▲ $4.632M ▼ $20.431M ▲
Q2-2024 $1.102M ▲ $24.661M ▲ $5.069M ▲ $19.592M ▼
Q1-2024 $754K ▲ $24.582M ▲ $4.286M ▼ $20.296M ▲
Q4-2023 $43K $24.543M $5.101M $19.442M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2024 $17K ▲ $-1.828M ▼ $-2.708M ▼ $19.409M ▲ $14.873M ▲ $-537K ▼
Q3-2024 $-571K ▲ $-284K ▼ $-10K ▲ $34K ▼ $-260K ▼ $-294K ▼
Q2-2024 $-704K ▲ $3.497M ▲ $-3.434M ▼ $202K ▼ $255K ▲ $200.562K ▲
Q1-2024 $-731K ▲ $172K ▼ $-838K ▲ $655K ▲ $32K ▲ $-433K ▼
Q4-2023 $-854.5K $1.76M $-1.538M $-546K $-324K $361.5K

Five-Year Company Overview

Income Statement

Income Statement BTCT’s income statement shows a business that has shrunk to a very small operating scale with highly volatile results. Revenue has fallen sharply from earlier years and is now minimal, which means the core business is not yet generating meaningful ongoing sales. Margins at the operating level have hovered around breakeven in recent years, but bottom‑line profit has swung widely, including what looks like a one‑off accounting gain followed by very small losses. Overall, the pattern is one of an early‑stage or transitioning company without a stable or proven earnings base yet.

Balance Sheet

Balance Sheet The balance sheet is small and looks fragile. Total assets have declined a lot from earlier years, and cash on hand is limited, leaving only a thin cushion. Debt has come down from prior levels, which reduces financial pressure, but equity only recently turned positive after having been negative, indicating a history of accumulated losses. In simple terms, BTCT operates with a light asset base and a narrow capital buffer, so it has limited room to absorb setbacks without fresh capital or improved cash generation.

Cash Flow

Cash Flow Historically, BTCT has burned cash in its operations and on investments in its business, with negative operating and free cash flow for several years. These cash outflows suggest the company has depended on external funding or asset changes to keep going rather than generating cash from its own activities. Recent figures reported as essentially flat do not yet show a clear improvement or sustainable inflow. From a cash perspective, the business still appears to be in a build‑out or turnaround phase, not yet self‑funding.

Competitive Edge

Competitive Edge BTCT is a very small player trying to reposition itself in a fiercely competitive and fast‑moving crypto and blockchain market. It competes with far larger, better‑capitalized miners and infrastructure providers, as well as with a crowded field of Ethereum‑focused and DeFi platforms. Its attempt to differentiate through more efficient, greener mining operations and hosting services is directionally attractive, but scale, brand recognition, and financial strength currently appear limited. This leaves its competitive position more speculative and dependent on successful execution of its new strategy rather than on an established market foothold.

Innovation and R&D

Innovation and R&D The company’s strategy leans heavily on innovation: proprietary liquid‑cooling systems, more efficient mining hardware, and a pivot into Ethereum‑based services such as staking, DeFi products, and tokenization. It is also exploring mining for other proof‑of‑work assets and building out hosting and infrastructure services. All of this points to a forward‑looking, experimental approach. However, most of these initiatives are still early and unproven at scale, so the innovation story is more about potential than demonstrated commercial success at this stage.

Summary

BTCT is in the middle of a major transformation from a small, struggling legacy business into a niche crypto infrastructure and Ethereum‑focused platform. Financially, it operates at very small scale, with limited revenue, a thin balance sheet, and a history of negative cash flow, all of which underline a higher‑risk profile and a strong need for successful execution of its new plans. Strategically, the company is aiming to stand out through sustainable, energy‑efficient mining technology and a broadened set of Ethereum‑centric financial and hosting services. Whether this will translate into durable earnings and a stronger market position will depend on its ability to deliver on its projects, win partners and customers, and navigate the inherent volatility and regulatory uncertainty of the digital asset space.

NEWS

November 21, 2025 · 4:30 PM UTC

Bitcoin Treasury Corporation Announces Investor Relations Agreement

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November 14, 2025 · 9:25 AM UTC

Bitcoin Treasury Corporation Announces Receipt for Final Base Shelf Prospectus and Reports Q3 2025 Financial Results

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November 11, 2025 · 4:30 PM UTC

Bitcoin Treasury Corporation Launches Bitcoin Lending Program with Inaugural Loan

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October 14, 2025 · 8:30 AM UTC

BTC Digital Signs MOU with Tianci International to Deliver Infrastructure, Operations and Blockchain Services

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September 16, 2025 · 8:30 AM UTC

BTC Digital Deploys Next-Generation Mining Rigs to Boost Hashrate and Energy Efficiency

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