BTCS on Nasdaq
BTCS Inc.
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Last updated Oct 16, 2026.
Overview
Compare with OpenWorld, Inc., UPEXI, INC. or The9, or pick any stock.
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
12.2%Gross margin3
-202.2%Net margin3
304.8%Revenue growth, 20253
-23.9%Return on equity3
-$9.8MFree cash flow3
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Builder+ brought in 74% of the revenue BTCS Inc. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2024 | 2025 |
|---|---|---|
| Builder+ | $2.5M | $13.1M |
| NodeOps | $1.6M | $2.1M |
| DeFi Revenues | $1.3M | |
| Imperium | $1.3M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue87¢$14.5M
- Research and development4¢$679.4K
- Interest9¢$1.5M
Out of $16.5M in revenue.3 The company lost money this year.
Financial statements
Every line of the income statement in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Total revenues | $16.5M | $4.1M |
| Total cost of revenues | $14.5M | $3.1M |
| Gross profit | $2.0M | $946.0K |
| Professional fees | $1.7M | $645.1K |
| General and administrative | $1.6M | $1.0M |
| Research and development | $679.4K | $755.8K |
| Compensation and related expenses | $3.5M | $6.6M |
| Marketing | $602.5K | $81.0K |
| Realized losses on digital asset transactions | $8.2M | $767.4K |
| Unrealized loss (gain) on digital assets | $15.7M | -$7.7M |
| Total operating expenses | $31.9M | $2.2M |
| Interest expense | -$3.5M | |
| Change in fair value of warrant liabilities | $267.9K | -$54.1K |
| Impairment loss on non-fungible tokens | -$149.6K | |
| Loss on settlement of dividend payable | -$52.8K | |
| Loss on extinguishment of debt | -$8.7K | |
| Other income | $28.0K | |
| Total other income (expenses) | -$3.5M | -$26.1K |
| Net loss | -$33.4M | -$1.3M |
| Basic net loss per share attributable to common stockholders | -$1.00 | -$0.08 |
| Diluted net loss per share attributable to common stockholders | -$1.00 | -$0.08 |
| Basic weighted average number of common shares outstanding | 33.2M shares | 16.3M shares |
| Diluted weighted average number of common shares outstanding, basic and diluted | 33.2M shares | 16.3M shares |
Every line of the balance sheet in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $1.5M | $2.0M | |
| Stablecoins | $1.5M | $39.5K | |
| Digital assets - treasury | $2.4M | $646.5K | |
| Digital assets - DeFi | $177.7M | ||
| Digital assets - staked | $30.7M | $35.4M | |
| Non-fungible tokens | $41.7K | ||
| Prepaid expenses | $146.0K | $63.9K | |
| Total current assets | $214.0M | $38.1M | |
| Investments, at value (Cost $600,000) | $600.0K | $100.0K | |
| Property and equipment, net | $14.4K | $7.4K | |
| Total other assets | $614.4K | $107.4K | |
| Total Assets | $214.6M | $38.2M | |
| Accounts payable and accrued expenses | $38.5K | $70.4K | |
| Accrued compensation | $1.6M | $3.9M | |
| Accrued interest | $225.1K | ||
| Loans payable - DeFi protocol | $61.5M | ||
| Warrant liabilities | $267.9K | $213.8K | |
| Total current liabilities | $63.4M | $4.2M | |
| Convertible notes payable, net | $11.8M | ||
| Total non-current liabilities | $11.8M | ||
| Total liabilities | $75.2M | $4.2M | |
| 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 | $46.9K | $18.7K | |
| Additional paid-in capital | $310.7M | $171.3M | |
| Accumulated deficit | -$173.3M | -$139.9M | |
| Total stockholders equity | $139.4M | $34.0M | $26.2M |
| Total Liabilities and Stockholders Equity | $214.6M | $38.2M | |
| Investment at cost | $600.0K | $600.0K | |
| Preferred stock, par value | $0.00 | $0.00 | |
| Preferred stock, shares authorized | 20.0M shares | 20.0M shares | |
| Common stock, par value | $0.00 | $0.00 | |
| Common stock, shares authorised | 975.0M shares | 975.0M shares | |
| Common stock, shares issued | 46.9M shares | 18.7M shares | |
| Common stock, shares outstanding | 46.9M shares | 18.7M shares |
Every line of the cash flow in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net loss | -$33.4M | -$1.3M |
| Depreciation expense | $4.1K | $5.7K |
| Stock-based compensation | $657.1K | $2.4M |
| Blockchain infrastructure revenue | -$15.2M | -$4.1M |
| DeFi revenue | -$1.3M | |
| Builder payments (non-cash) | $14.3M | $2.8M |
| Blockchain network fees (non-cash) | $12.3K | |
| Change in fair value of warrant liabilities | -$267.9K | $54.1K |
| Purchase of non-productive digital assets | -$191.3K | |
| Amortization on debt discount and issuance costs | $1.5M | |
| Realized losses on digital asset transactions | $8.2M | $767.4K |
| Unrealized loss (gain) on digital assets | $15.7M | -$7.7M |
| Impairment loss on non-fungible tokens | $149.6K | |
| Loss on settlement of dividend payable | $52.8K | |
| Loss on extinguishment of debt | $8.7K | |
| Stablecoins | -$1.5M | -$18.5K |
| Prepaid expenses and other current assets | -$82.1K | -$1.5K |
| Receivable for capital shares sold | $291.4K | |
| Accounts payable and accrued expenses | -$31.9K | $15.4K |
| Accrued compensation | $1.3M | $3.2M |
| Accrued interest | $225.1K | |
| Net cash used in operating activities | -$9.8M | -$3.5M |
| Purchase of productive digital assets for validating | -$201.3M | -$3.5M |
| Sale of productive digital assets | $4.4M | $902.0K |
| Purchase of investments | -$500.0K | |
| Purchase of property and equipment | -$12.8K | -$2.6K |
| Sale of property and equipment | $1.8K | |
| Net cash used in investing activities | -$197.5M | -$2.6M |
| Net proceeds from issuance common stock/ At-the-market offering | $135.2M | $6.7M |
| Dividend distributions | -$2.7M | |
| Payments for shares repurchased | -$4.0M | |
| Proceeds from issuance of convertible notes, net | $16.8M | |
| Proceeds from Defi borrowing | $122.9M | |
| Payments to Defi borrowing | -$61.5M | |
| Payments of debt issuance costs | -$131.0K | |
| Proceeds from disgorgement of stockholders short-swing profits | $145.3K | |
| Net cash provided by financing activities | $206.8M | $6.7M |
| Net (decrease)/increase in cash | -$451.4K | $519.5K |
| Cash and stablecoins paid for interest | $1.8M | |
| Series V Preferred Stock Distribution | $180.7K | $82.4K |
| Non-cash discount on convertible notes | $1.0M | |
| Extinguishment of USDT-denominated debt via on-chain protocol | $1.5M | |
| Issuance of GHO-denominated debt via on-chain protocol | -$1.5M | |
| Issuance of common stock upon non-cash exercise of warrants and stock options | $8.1M | |
| Dividends distributions paid in ETH | $495.9K |
Former names
Recent filings
- Oct 9, 20264
- Oct 9, 20264
- Oct 9, 20264
- Aug 25, 20268-K
- Aug 20, 20268-K
- Aug 19, 202610-Q
- Aug 17, 2026NT 10-Q
- Aug 7, 2026SCHEDULE 13G
- Jul 7, 20263
- Jul 1, 20268-K
- Jun 16, 20264
- Jun 12, 20264
- Jun 11, 20264
- Jun 9, 20268-K
- Jun 1, 20268-K
Every filing from the last three years, summarized. The full record is on SEC EDGAR.1
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1SEC EDGARBTCS Inc. filings on SEC EDGAR
- 2SEC EDGARBTCS Inc. filings on SEC EDGAR
- 3SEC EDGARBTCS Inc. 10-K for fiscal 2025
- 4SEC EDGARBTCS Inc. 10-K for fiscal 2021
- 5SEC EDGARBTCS Inc. 10-K for fiscal 2022
- 6SEC EDGARBTCS Inc. 10-K for fiscal 2023
- 7SEC EDGARBTCS Inc. 10-K for fiscal 2019
- 8SEC EDGARBTCS Inc. 10-K for fiscal 2020
- 9SEC EDGARBTCS Inc. 10-Q for fiscal 2026
- 10SEC EDGARBTCS Inc. 10-Q for fiscal 2026