Cash flow BTC Digital Ltd.

Stocks

BTCT

KYG6055H1552

Blockchain & Cryptocurrency

Real-time Estimate Cboe BZX Other stock markets 00:36:24 12/06/2026 HKT			5-day change	1st Jan Change
1.250 ^USD	+0.40%		+12.27%	-5.00%

05-29	BTC Digital Ltd. Secures $1 Million Insider Loan At 12% Interest	CI
05-12	BTC Digital Ltd. Reports Earnings Results for the Full Year Ended December 31, 2025	CI

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Published financial data: BTC DIGITAL LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023 (USD)	2024 (USD)	2025 (USD)
Revenues	729M	81.6M	9.07M	11.68M	14.04M
Total Revenues	729M	81.6M	9.07M	11.68M	14.04M
Cost of Goods Sold, Total	484M	69.4M	10.21M	11.56M	17.2M
Gross Profit	245M	12.19M	-1.14M	115K	-3.16M
Selling General & Admin Expenses, Total	511M	4.97M	1.35M	2.79M	5.65M
R&D Expenses	18.41M	-	-	-	-
Other Operating Expenses, Total	529M	4.97M	1.35M	2.79M	5.65M
Operating Income	-284M	7.22M	-2.48M	-2.68M	-8.81M
Interest Expense, Total	-2.4M	-141K	-63K	-48K	-62K
Interest And Investment Income	340K	-	1K	-	191K
Net Interest Expenses	-2.06M	-141K	-62K	-48K	129K
Income (Loss) On Equity Invest.	-149K	83K	12K	75K	91K
Currency Exchange Gains (Loss)	-9.68M	1.19M	-	-	-
Other Non Operating Income (Expenses)	634K	-1.69M	-293K	662K	-472K
EBT, Excl. Unusual Items	-295M	6.67M	-2.82M	-1.99M	-9.06M
Impairment of Goodwill	-81.6M	-	-	-	-
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Gain (Loss) On Sale Of Assets	-37.83M	-	-	-	-
Other Unusual Items	7.97M	-	-	-	-
EBT, Incl. Unusual Items	-407M	6.67M	-2.82M	-1.99M	-9.06M
Income Tax Expense	-20.24M	-	-	-	-
Earnings From Continuing Operations	-386M	6.67M	-2.82M	-1.99M	-9.06M
Earnings Of Discontinued Operations	-	32.21M	-	-	-
Net Income to Company	-386M	38.88M	-2.82M	-1.99M	-9.06M
Minority Interest	2M	14.14M	-	-	-
Net Income - (IS)	-384M	53.01M	-2.82M	-1.99M	-9.06M
Preferred Dividend and Other Adjustments	-	-	-	-	-
Net Income to Common Incl Extra Items	-384M	53.01M	-2.82M	-1.99M	-9.06M
Net Income to Common Excl. Extra Items	-384M	20.8M	-2.82M	-1.99M	-9.06M
Per Share Items
Net EPS - Basic	-563.7	77.64	-1.89	-0.66	-1.1
Basic EPS - Continuing Operations	-563.7	30.47	-1.89	-0.66	-1.1
Basic Weighted Average Shares Outstanding	682K	683K	1.49M	3.02M	8.22M
Net EPS - Diluted	-563.7	77.64	-1.89	-0.66	-1.1
Diluted EPS - Continuing Operations	-563.7	30.47	-1.89	-0.66	-1.1
Diluted Weighted Average Shares Outstanding	682K	683K	1.49M	3.02M	8.22M
Normalized Basic EPS	-267.58	26.81	-1.18	-0.41	-0.69
Normalized Diluted EPS	-267.58	26.81	-1.18	-0.41	-0.69
Supplemental Items
EBITDA	-246M	36.02M	670K	993K	-4.67M
EBITA	-279M	7.22M	-2.48M	-2.68M	-8.81M
EBIT	-284M	7.22M	-2.48M	-2.68M	-8.81M
EBITDAR	-133M	-	-	-	-
Effective Tax Rate - (Ratio)	4.98	-	-	-	-
Current Domestic Taxes	-	-	-	-	-
Total Current Taxes	410K	-	-	-	-
Deferred Domestic Taxes	-	-	-	-	-
Total Deferred Taxes	-20.65M	-	-	-	-
Normalized Net Income	-182M	18.3M	-1.76M	-1.24M	-5.66M
Supplemental Operating Expense Items
Selling and Marketing Expenses	251M	-	225K	355K	585K
General and Administrative Expenses	260M	4.97M	1.12M	2.44M	5.06M
Research And Development Expense From Footnotes	18.41M	-	-	-	-
Net Rental Expense, Total	113M	-	-	-	-
Imputed Operating Lease Interest Expense	6.58M	-	-	-	-
Imputed Operating Lease Depreciation	106M	-	-	-	-
Stock-Based Comp., G&A Exp. (Total)	-	-	138K	571K	1.83M
Stock-Based Comp., Other (Total)	23.33M	5.85M	-	-	-
Total Stock-Based Compensation	23.33M	5.85M	138K	571K	1.83M

Fiscal Period: December	2021	2022	2023 (USD)	2024 (USD)	2025 (USD)
Assets
Cash And Equivalents	168M	333K	43K	14.9M	350K
Short Term Investments	-	-	328K	1.18M	3.39M
Total Cash And Short Term Investments	168M	333K	371K	16.08M	3.74M
Accounts Receivable, Total	49.61M	61.4M	5.48M	5.48M	6.22M
Other Receivables	10.15M	-	-	200K	638K
Notes Receivable	-	-	-	-	-
Total Receivables	59.76M	61.4M	5.48M	5.68M	6.86M
Inventory	7.9M	-	-	-	-
Prepaid Expenses	12.21M	-	-	-	-
Other Current Assets, Total	141M	35.21M	3.09M	2.8M	8.69M
Total Current Assets	390M	96.94M	8.94M	24.55M	19.3M
Gross Property Plant And Equipment	246M	105M	17.24M	20.7M	28.61M
Accumulated Depreciation	-54.74M	-12.53M	-4.54M	-8.15M	-12.3M
Net Property Plant And Equipment	191M	92.44M	12.7M	12.55M	16.32M
Long-term Investments	24.4M	19.9M	2.9M	4.02M	4.31M
Goodwill	193M	-	-	-	-
Other Intangibles, Total	14.68M	-	-	-	-
Deferred Tax Assets Long-Term	25.99M	-	-	-	-
Deferred Charges Long-Term	11.15M	-	-	-	-
Other Long-Term Assets, Total	35.09M	-	-	-	-
Total Assets	885M	209M	24.54M	41.13M	39.92M
Liabilities
Accounts Payable, Total	16.16M	23.83M	128K	115K	-
Accrued Expenses, Total	46.55M	-	-	121K	261K
Short-term Borrowings	47.76M	6M	125K	484K	2.17M
Current Portion of Leases	35.82M	-	-	49K	49K
Current Income Taxes Payable	195K	-	-	-	-
Unearned Revenue Current, Total	551M	-	792K	124K	-
Other Current Liabilities	17.43M	46.48M	4.06M	-	-
Total Current Liabilities	715M	76.3M	5.1M	893K	2.48M
Long-Term Leases	59.82M	-	-	320K	286K
Unearned Revenue Non Current	35.55M	-	-	-	-
Deferred Tax Liability Non Current	4.43M	-	-	-	-
Other Non Current Liabilities	34.14M	-	-	-	-
Total Liabilities	849M	76.3M	5.1M	1.21M	2.76M
Common Stock, Total	217K	432K	121K	368K	553K
Additional Paid In Capital	1.34B	1.4B	206M	228M	234M
Retained Earnings	-1.32B	-1.27B	-187M	-189M	-198M
Comprehensive Income and Other	-	-	-	-	-
Total Common Equity	22.44M	133M	19.44M	39.92M	37.16M
Minority Interest	14.14M	-	-	-	-
Total Equity	36.58M	133M	19.44M	39.92M	37.16M
Total Liabilities And Equity	885M	209M	24.54M	41.13M	39.92M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	569K	1.21M	2.61M	6.43M	9.52M
ECS Total Common Shares Outstanding	569K	1.04M	2.1M	6.43M	9.52M
Book Value / Share	39.47	127.37	9.27	6.2	3.9
Tangible Book Value	-185M	133M	19.44M	39.92M	37.16M
Tangible Book Value Per Share	-325.72	127.37	9.27	6.2	3.9
Total Debt	143M	6M	125K	853K	2.5M
Net Debt	-25M	5.66M	-246K	-15.23M	-1.24M
Debt Equivalent Oper. Leases	904M	-	-	-	-
Minority Interest, Total (Incl. Fin. Div)	14.14M	-	-	-	-
Equity Method Investments, Total	24.4M	19.9M	2.9M	4.02M	4.31M
Account Code - Inventory Valuation	5	3	3	3	3
Land - (BS)	-	-	-	-	1.88M
Buildings, Total	75.09M	-	-	-	-
Machinery, Total	41.2M	-	-	-	-
Full Time Employees	1.23K	16	20	21	26
Part Time Employees	360	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	23.33M	-	-	-	-

Fiscal Period: December	2021	2022	2023 (USD)	2024 (USD)	2025 (USD)
Net Income	-384M	53.01M	-2.82M	-1.99M	-9.06M
Depreciation & Amortization - CF	106M	38.08M	3.15M	3.68M	4.18M
Amortization of Goodwill and Intangible Assets - (CF)	4.66M	-	-	-	-
Depreciation & Amortization, Total	110M	38.08M	3.15M	3.68M	4.18M
(Gain) Loss From Sale Of Asset	37.51M	-8.47M	357K	45K	-
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Asset Writedown & Restructuring Costs	81.6M	-	-	-	35K
(Income) Loss On Equity Investments - (CF)	149K	-3.53M	-12K	-75K	-91K
Stock-Based Compensation (CF)	23.33M	5.85M	138K	571K	1.83M
Provision and Write-off of Bad Debts	7.24M	11.4M	-	-	-
Net Cash From Discontinued Operations	-	-74.73M	-	-	-
Other Operating Activities, Total	-20.24M	-11.83M	-34K	-713K	418K
Change In Accounts Receivable	-23.7M	-69.74M	3.42M	8K	-746K
Change In Accounts Payable	-849K	22.68M	-3.33M	-13K	-115K
Change in Unearned Revenues	-187M	-157M	250K	-126K	-124K
Change In Income Taxes	328K	304K	-	-	-
Change in Other Net Operating Assets	-104M	-20.03M	2.69M	168K	-1.58M
Cash from Operations	-459M	-214M	3.81M	1.56M	-5.26M
Capital Expenditure	-73.05M	-61.21M	-2.5M	-2.74M	-8.52M
Sale of Property, Plant, and Equipment	438K	73.14M	564K	-	-
Cash Acquisitions	-	-	-	-	-
Divestitures	-	-17.48M	-	-	-
Investment in Marketable and Equity Securities, Total	-2.07M	-12.41M	-	-	-200K
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-	-	-	-
Other Investing Activities, Total	2.74M	1.7M	-2.68M	-4.26M	-6.74M
Cash from Investing	-71.94M	-16.25M	-4.62M	-7M	-15.45M
Short Term Debt Issued, Total	124M	35.2M	182K	810K	7.82M
Long-Term Debt Issued, Total	-	-	-	-	-
Total Debt Issued	124M	35.2M	182K	810K	7.82M
Short Term Debt Repaid, Total	-261M	-26.28M	-927K	-451K	-6.14M
Long-Term Debt Repaid, Total	-	-	-	-	-
Total Debt Repaid	-261M	-26.28M	-927K	-451K	-6.14M
Issuance of Common Stock	744M	44.55M	1.55M	19.94M	4.48M
Other Financing Activities, Total	-	-	-	-	-
Cash from Financing	608M	53.46M	807K	20.3M	6.16M
Net Change in Cash	76.77M	-177M	-5K	14.86M	-14.55M
Supplemental Items
Cash Interest Paid	2.4M	161K	63K	23K	62K
Cash Income Tax Paid (Refund)	105K	720K	-	104K	-
Levered Free Cash Flow	-412M	-533M	-1.35M	-4.71M	-15.23M
Unlevered Free Cash Flow	-411M	-533M	-1.31M	-4.68M	-15.19M
Change In Net Working Capital	294M	520M	549K	4.52M	7.18M
Net Debt Issued / Repaid	-136M	8.92M	-745K	359K	1.68M

Fiscal Period: December	2021	2022	2023 (USD)	2024 (USD)	2025 (USD)
Profitability
Return on Assets	-17.88	0.82	-5.65	-5.1	-13.58
Return on Total Capital	-106.51	5.14	-7.81	-5.55	-13.69
Return On Equity %	237.02	7.87	-14.59	-6.7	-23.51
Return on Common Equity	215.76	26.77	-14.59	-6.7	-23.51
Margin Analysis
Gross Profit Margin %	33.65	14.94	-12.51	0.98	-22.5
SG&A Margin	70.06	6.09	14.84	23.92	40.24
EBITDA Margin %	-33.74	44.15	7.38	8.51	-33.25
EBITA Margin %	-38.29	8.85	-27.34	-22.94	-62.74
EBIT Margin %	-38.93	8.85	-27.34	-22.94	-62.74
Income From Continuing Operations Margin %	-52.99	8.17	-31.13	-17.04	-64.53
Net Income Margin %	-52.72	64.97	-31.13	-17.04	-64.53
Net Avail. For Common Margin %	-52.72	25.5	-31.13	-17.04	-64.53
Normalized Net Income Margin	-25.02	22.43	-19.45	-10.65	-40.33
Levered Free Cash Flow Margin	-56.56	-652.78	-14.89	-40.35	-108.49
Unlevered Free Cash Flow Margin	-56.36	-652.67	-14.46	-40.09	-108.22
Asset Turnover
Asset Turnover	0.73	0.15	0.33	0.36	0.35
Fixed Assets Turnover	2.21	-	0.7	0.92	0.97
Receivables Turnover (Average Receivables)	17.6	-	1.26	2.13	2.4
Inventory Turnover (Average Inventory)	56.4	-	-	-	-
Short Term Liquidity
Current Ratio	0.55	1.27	1.75	27.49	7.79
Quick Ratio	0.32	0.81	1.15	24.37	4.28
Operating Cash Flow to Current Liabilities	-0.64	-2.81	0.75	1.74	-2.12
Days Sales Outstanding (Average Receivables)	20.73	-	289.39	171.82	152.07
Days Outstanding Inventory (Average Inventory)	6.47	-	-	-	-
Average Days Payable Outstanding	12.55	-	64.06	3.85	-
Cash Conversion Cycle (Average Days)	14.65	-	-	-	-
Long Term Solvency
Total Debt/Equity	392.07	4.51	0.64	2.14	6.73
Total Debt / Total Capital	79.68	4.32	0.64	2.09	6.31
LT Debt/Equity	163.57	-	-	0.8	0.77
Long-Term Debt / Total Capital	33.24	-	-	0.78	0.72
Total Liabilities / Total Assets	95.87	36.46	20.78	2.95	6.92
EBIT / Interest Expense	-118.26	51.23	-39.38	-55.79	-142.08
EBITDA / Interest Expense	-55.39	321.32	10.63	20.69	-75.29
(EBITDA - Capex) / Interest Expense	-85.83	-112.81	-29.06	-36.48	-212.69
Total Debt / EBITDA	-1.08	0.13	0.19	0.86	-0.54
Net Debt / EBITDA	0.19	0.13	-0.37	-15.34	0.27
Total Debt / (EBITDA - Capex)	-0.7	-0.38	-0.07	-0.49	-0.19
Net Debt / (EBITDA - Capex)	0.12	-0.36	0.13	8.7	0.09
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-18.73	-	-23.31	28.68	20.27
Gross Profit, 1 Yr. Growth %	-15.4	-	-164.2	-110.13	-2.85K
EBITDA, 1 Yr. Growth %	-22.48	15.77	-87.17	48.21	-570.09
EBITA, 1 Yr. Growth %	-24.05	-206.82	-336.96	7.94	228.94
EBIT, 1 Yr. Growth %	-23.95	-206.82	-336.96	7.94	228.94
Earnings From Cont. Operations, 1 Yr. Growth %	-6.42	-155.11	-392.04	-29.57	355.56
Net Income, 1 Yr. Growth %	-6.49	-113.79	-136.74	-29.57	355.56
Normalized Net Income, 1 Yr. Growth %	-21.8	-428.86	-166.52	-29.57	355.56
Diluted EPS Before Extra, 1 Yr. Growth %	-87.28	-106.85	-142.79	-65.08	66.96
Accounts Receivable, 1 Yr. Growth %	49.41	-	-38.38	-0.15	13.62
Inventory, 1 Yr. Growth %	-14.64	-	-	-	-
Net Property, Plant and Equip., 1 Yr. Growth %	-59.24	-	-5.23	-1.17	29.96
Total Assets, 1 Yr. Growth %	-19.43	-76.36	-19.12	67.58	-2.93
Tangible Book Value, 1 Yr. Growth %	-72.46	492.58	0.84	105.31	-6.9
Common Equity, 1 Yr. Growth %	-105.93	492.58	0.84	105.31	-6.9
Cash From Operations, 1 Yr. Growth %	33.82	-53.38	-112.27	-59.11	-437.7
Capital Expenditures, 1 Yr. Growth %	184.77	-16.21	-71.82	9.72	210.46
Levered Free Cash Flow, 1 Yr. Growth %	122.27	245.65	-98.23	248.69	223.37
Unlevered Free Cash Flow, 1 Yr. Growth %	126.11	245.6	-98.28	256.87	224.62
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-29.04	-	-	-0.66	24.4
Gross Profit, 2 Yr. CAGR %	-40.49	-	-	-74.5	66.83
EBITDA, 2 Yr. CAGR %	20.55	-13.18	-60.93	-56.4	163.95
EBITA, 2 Yr. CAGR %	12.17	-5.9	61.3	59.93	88.43
EBIT, 2 Yr. CAGR %	11.65	-5.9	61.3	59.93	88.43
Earnings From Cont. Operations, 2 Yr. CAGR %	31.01	-24.79	28.63	43.42	79.12
Net Income, 2 Yr. CAGR %	32.35	-64.08	-77.17	-49.13	79.12
Normalized Net Income, 2 Yr. CAGR %	17.13	81.24	49.96	-31.55	79.12
Diluted EPS Before Extra, 2 Yr. CAGR %	-54.48	-	-82.64	-61.35	-23.64
Accounts Receivable, 2 Yr. CAGR %	16.23	35.97	-	-21.56	6.52
Inventory, 2 Yr. CAGR %	-11.7	-	-	-	-
Net Property, Plant and Equip., 2 Yr. CAGR %	-47.88	-55.62	-	-3.22	13.33
Total Assets, 2 Yr. CAGR %	-22.22	-56.36	-55.66	16.42	27.54
Tangible Book Value, 2 Yr. CAGR %	-43.88	-55.54	147.86	43.89	38.26
Common Equity, 2 Yr. CAGR %	-70.67	-40.74	147.86	43.89	38.26
Cash From Operations, 2 Yr. CAGR %	361.44	-21.01	-75.75	-77.61	17.51
Capital Expenditures, 2 Yr. CAGR %	-8.09	54.47	-50.73	-44.4	84.56
Levered Free Cash Flow, 2 Yr. CAGR %	114.11	238.65	-75.07	-75.18	235.79
Unlevered Free Cash Flow, 2 Yr. CAGR %	111.93	238.62	-75.43	-75.26	240.36
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-20.01	-61.66	-	-	5.87
Gross Profit, 3 Yr. CAGR %	-32.46	-73.98	-	-	21.35
EBITDA, 3 Yr. CAGR %	32.12	-40.29	-53.68	-38.47	-3.68
EBITA, 3 Yr. CAGR %	71.07	-68.07	29.2	42.45	103.39
EBIT, 3 Yr. CAGR %	76.42	-68.34	29.2	42.45	103.39
Earnings From Cont. Operations, 3 Yr. CAGR %	93.35	-69.05	19.31	6.25	110.82
Net Income, 3 Yr. CAGR %	88.63	-37.72	-63.48	-66.45	5.64
Normalized Net Income, 3 Yr. CAGR %	67.36	-48.37	30.96	17.69	28.75
Diluted EPS Before Extra, 3 Yr. CAGR %	-2.38	-77.63	-	-77.87	-37.05
Accounts Receivable, 3 Yr. CAGR %	44.54	18.68	5.41	-	-11.25
Inventory, 3 Yr. CAGR %	-2.29	-	-	-	-
Net Property, Plant and Equip., 3 Yr. CAGR %	-3.35	-49.18	-42.32	-	6.77
Total Assets, 3 Yr. CAGR %	-4.19	-47.71	-45.9	-30.27	9.58
Tangible Book Value, 3 Yr. CAGR %	-25.74	-39.07	-41.04	135.04	24.45
Common Equity, 3 Yr. CAGR %	-45.46	-20.12	-28.6	135.04	24.45
Cash From Operations, 3 Yr. CAGR %	80.17	114.92	-57.15	-70.86	-44.67
Capital Expenditures, 3 Yr. CAGR %	4.31	-10.88	-11.58	-35.04	-1.36
Levered Free Cash Flow, 3 Yr. CAGR %	38.87	80.92	-40.92	-39.35	-41.6
Unlevered Free Cash Flow, 3 Yr. CAGR %	38.7	79.9	-41.5	-39.48	-41.64
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-1.88	-41.09	-46.18	-43.25	-
Gross Profit, 5 Yr. CAGR %	-11.69	-55.28	-60.1	-73.9	-
EBITDA, 5 Yr. CAGR %	139.32	-16.11	-46.32	-46.75	-7.34
EBITA, 5 Yr. CAGR %	57.81	-32.08	-20.6	-38.48	49.84
EBIT, 5 Yr. CAGR %	58.33	-32.08	-19.39	-38.8	49.84
Earnings From Cont. Operations, 5 Yr. CAGR %	70.07	-30.23	-17.83	-42.2	39.98
Net Income, 5 Yr. CAGR %	73.73	5.5	-18.95	-41.91	-31.2
Normalized Net Income, 5 Yr. CAGR %	80.87	-12.7	-20.3	-41.55	48.03
Diluted EPS Before Extra, 5 Yr. CAGR %	50.04	-6.22	-53.34	-71.84	-
Accounts Receivable, 5 Yr. CAGR %	21.78	36.49	18.81	1.71	5.56
Inventory, 5 Yr. CAGR %	12.92	-	-	-	-
Net Property, Plant and Equip., 5 Yr. CAGR %	4.92	-13.9	-15.73	-33.5	-24.64
Total Assets, 5 Yr. CAGR %	6.24	-25.4	-29.61	-27.15	-23.97
Tangible Book Value, 5 Yr. CAGR %	-12.33	-16.52	-21.14	-13.1	-17.32
Common Equity, 5 Yr. CAGR %	-40.62	-13.49	-0.07	2.24	-7.25
Cash From Operations, 5 Yr. CAGR %	37.74	-3.79	-19.23	-12.03	-36.03
Capital Expenditures, 5 Yr. CAGR %	-2	-4.2	-22.73	-25.36	18.36
Levered Free Cash Flow, 5 Yr. CAGR %	-	24.23	-42.62	-17.5	18.06
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	24.23	-42.95	-17.88	18