BTC Digital Ltd. (BTCT) Income Statement
BTCT 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsBTCT revenue and net income
Where BTCT's revenue goes
2025Each bar shows an amount and its share of revenue. BTCT kept −64.5% of revenue as net income.
BTCT profit margins
BTCT growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +20.3% | −78.6% | −55.5% | — |
| Gross profit | −2,847.0% | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
BTCT quarterly EPS vs estimates
BTC Digital beat the analyst EPS estimate in 2 of the last 4 quarters.
BTCT income statement
| 2025 | 2024 | 2023 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|
| Revenue | $14.0M | $11.7M | $9.1M | $1.42B | $176.1M | $801.4M |
| Cost of revenue | $17.2M | $11.6M | $10.2M | $628.0M | $468.0M | $344.8M |
| Gross profit | −$3.2M | $115,000 | −$1.1M | $796.2M | $681.8M | $456.7M |
| Research & development | — | — | — | $26.2M | $21.2M | $18.2M |
| Sales, general & admin | $5.7M | $2.8M | $1.3M | $718.4M | $610.6M | $467.0M |
| Total operating expenses | $5.7M | $2.8M | $1.3M | $744.6M | $631.8M | $485.2M |
| Operating income | −$8.8M | −$2.7M | −$2.5M | $51.7M | $50.0M | −$28.5M |
| Interest income | $191,000 | $0 | $1,000 | — | — | — |
| Interest expense | $62,000 | $48,000 | $63,000 | $8,000 | $9,000 | — |
| Income before taxes | −$9.1M | −$2.0M | −$2.8M | $67.9M | $59.9M | −$19.3M |
| Income taxes | — | — | −$252,000 | $14.5M | $19.5M | $7.9M |
| Net income | −$9.1M | −$2.0M | −$2.8M | $57.3M | $6.2M | −$24.3M |
| EBITDA | −$4.6M | $1.7M | $390,000 | $106.6M | $86.7M | $3.1M |
| EPS (diluted) | −$0.95 | −$13560.06 | −$0.69 | $283.72 | — | — |
| Gross margin | −22.5% | 1.0% | −12.5% | 55.9% | 387.1% | 57.0% |
| Operating margin | −62.7% | −22.9% | −27.3% | 3.6% | 28.4% | −3.6% |
| Net margin | −64.5% | −17.0% | −31.1% | 4.0% | 3.5% | −3.0% |
| Mar '26 | Sep '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | Mar '23 | Dec '22 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.2M | $4.2M | $2.9M | $4.1M | $2.6M | $2.3M | $2.6M | $944,000 | $845,000 | $46.2M | $6.2M | $35.2M |
| Cost of revenue | $5.1M | $5.1M | $3.5M | $3.4M | $2.8M | $2.5M | $2.8M | $1.4M | $1.4M | $44.5M | $8.6M | $28.3M |
| Gross profit | −$922,500 | −$922,500 | −$655,078 | $718,000 | −$261,000 | −$214,000 | −$128,000 | −$484,000 | −$541,000 | $1.7M | −$2.4M | $6.9M |
| Sales, general & admin | $968,500 | $968,500 | $1.9M | $1.2M | $281,000 | $414,000 | $941,000 | $204,000 | $153,000 | $1.4M | $4.5M | $2.2M |
| Total operating expenses | $968,500 | $968,500 | $1.9M | $4.6M | $281,000 | $414,000 | $941,000 | $204,000 | $153,000 | $2.4M | $4.5M | −$2.2M |
| Operating income | −$1.9M | −$1.9M | −$2.5M | −$439,000 | −$542,000 | −$628,000 | −$1.1M | −$688,000 | −$694,000 | −$718,314 | −$6.9M | $9.0M |
| Interest income | — | — | — | $0 | $0 | $0 | — | $0 | $0 | $1,000 | — | — |
| Interest expense | $5,500 | $5,500 | $31,000 | $31,000 | $2,000 | $9,000 | $6,000 | $2,000 | $11,000 | $144,856 | $206,224 | $72,475 |
| Income before taxes | −$2.1M | −$2.1M | −$2.4M | $17,000 | −$571,000 | −$704,000 | −$731,000 | −$702,000 | −$1.0M | −$977,780 | −$6.7M | $9.5M |
| Income taxes | — | — | — | — | — | — | −$1 | — | — | −$132,000 | $80,000 | — |
| Net income | −$2.1M | −$2.1M | −$2.4M | $17,000 | −$571,000 | −$704,000 | −$731,000 | −$702,000 | −$1.0M | −$977,780 | −$6.7M | $30.3M |
| EBITDA | −$809,517 | −$802,662 | −$1.5M | $1.0M | $350,000 | $224,000 | $137,000 | $146,000 | −$365,000 | $5.2M | −$763,029 | $21.2M |
| EPS (diluted) | — | −$0.68 | −$0.16 | $0.00 | −$0.21 | −$0.27 | −$0.30 | — | $0.00 | $0.00 | $0.00 | — |
| Gross margin | −22.2% | −22.2% | −22.9% | 17.4% | −10.2% | −9.2% | −4.8% | −51.3% | −64.0% | 3.7% | −37.8% | 19.5% |
| Operating margin | −45.5% | −45.5% | −87.7% | −10.6% | −21.2% | −27.0% | −40.3% | −72.9% | −82.1% | −1.6% | −110.3% | 25.6% |
| Net margin | −50.7% | −50.7% | −84.5% | 0.4% | −22.3% | −30.2% | −27.6% | −74.4% | −119.2% | −2.1% | −108.0% | 86.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in BTCT's financial statements (latest annual report filed May 11, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
BTCT financial results
In fiscal year 2025 (ended December 31, 2025), BTC Digital reported revenue of $14.0 million, up 20.3% from the year before. It had a net loss of $9.1 million, a net profit margin of −64.5%. Diluted earnings per share came to −$0.95. Over five years revenue grew at an average rate of −55.5% a year.
See the BTCT stock overview for the latest quote and news, or the BTCT chart for price history and technical indicators.
BTCT income statement FAQ
What is BTC Digital's annual revenue?
BTC Digital reported total revenue of $14.0 million for fiscal year 2025, which ended on December 31, 2025. That was up 20.3% from $11.7 million the previous year.
Is BTC Digital profitable?
No. BTC Digital reported a net loss of $9.1 million in fiscal 2025, a net profit margin of −64.5%; its operating margin was −62.7%.
What is BTC Digital's gross margin?
BTC Digital's gross margin was −22.5% in fiscal 2025: for every $100 of revenue, BTC Digital kept $-22 after the direct cost of its products and services.
How fast is BTC Digital growing?
Revenue grew −55.5% a year on average over the last five fiscal years, from $801.4 million to $14.0 million.
What are BTC Digital's earnings per share?
BTC Digital earned $-0.95 per diluted share in fiscal 2025, compared with $-13560.06 a year earlier.
When does BTC Digital's fiscal year end?
BTC Digital's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on May 11, 2026.