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MARKETS / NASDAQ / BTCT
NASDAQ · FINANCE SERVICES · SMALL CAP

BTC Digital Ltd. BTCT

8 fiscal years on record · USD · FY2025 reported · SEC filings only
$14.0M
▲ 20.3% YoY
$-9.1M
$-13.8M
In brief

What this company does

We were formed to serve as a holding company after consummation of the Mergers (defined below) contemplated by the Merger Agreement (defined below). We were formed as a Cayman Islands exempted company on September 27, 2019. As of the date of this annual report, the operating entities only operate cryptocurrency mining business in the U.S., and we no longer provide ELT services, which services were provided by the former VIEs. Cryptocurrency mining is the process of using specialized, high-powered mining machines to perform complex cryptographic computations that validate cryptocurrency transactions and secure the blockchain ledger. We had 20, 21, and 26 full-time employees as of December 31, 2023, 2024 and 2025, respectively.

Written from the business description in BTC Digital Ltd.'s annual report to the U.S. Securities and Exchange Commission, filed 11 May 2026. Every sentence was checked against that document before publication.

Growth
USD 14.0M
Revenue, FY2025 · full 8-year series below
Compound annual growth
+5.9%
3 yrs
5 yrs
10 yrs
15 yrs

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−65 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -62.7% · Net -64.5%
20%40%-20%-40%-60%20182019202020212022202320242025
ROE
FY2025 · ROE -23.5%
20%40%60%-10%-20%20182019202020212022202320242025

Each USD of equity lost 24 cents this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -13.8
-200M-400M20182019202020212022202320242025

Total assetsUSD 39.9M
EquityUSD 37.2M
CashUSD 350,000.00
Gross debtUSD 2.2M
Net debtUSD 1.8M
Current ratio7.79×

Net debt stands at 5% of equity.

The 8-year record
8 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 20252024202320222021202020192018
Revenue $B0.00.00.00.00.1···
Operating income CNY B····−0.0−0.0−0.20.1
EBITDA $B−0.00.00.00.00.00.0−0.20.1
Income tax CNY B·····0.00.00.0
Net income CNY B····−0.4−0.4−0.20.1
Free cash flow $B−0.0−0.00.0−0.0−0.5−0.4−0.10.0
EPS, diluted CNY ···3.39−927.40−5456.60−136.021.01
Dividend / sh $········
Payout %········
ROE %−23.5−6.7−14.662.5····
Shares out B0.010.010.000.000.010.000.05·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 7 failures · 2 divergences in 39 reconciliationsAUDITED

Reconciled in 3 of 19 fiscal years. 2 of those reconciliations are divergences — the figures exist but don't fit the formula this check expects; that isn't the same as an error. 56 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente7 failures2 divergent
ActivityFinance Services
Listed onNASDAQ
Incorporated inoutside the United States — SEC code E9
Fiscal year endsDecember 31
Data on record since2017

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