BTC Holdings
5,058 BTC
180d
Stock Price
$0.22
180d
Total financing
210.00M USD
180d
mNAV
0.42x
180d
Leverage
51.7%
180d
BTC Credit
229 bps1.9x
Sats/Share
733
180d
Mkt cap
151.80M USD
Shares
690.02M
Fiat reserve
24.19M USD
Total reserve
383.45M USD
Dilution
0.0%
Coverage
21.4 yr
Analytics
BTC Coverage
Financials
US-GAAPAnnualAs of 2025-12-31
Balance Sheet
Total Assets$730.6M▲19764.3%
Total Liabilities$216.4M▲19396.7%
Stockholders' Equity$514.3M▲19923.2%
Cash & Equivalents$22.6M▲893.3%
Total Debt—
Digital Assets$467.5M
Income Statement
Revenue$1.8M▲2099.3%
Operating Income$-197.1M▼5790.4%
Net Income$-52.2M▼1343.7%
Interest Expense$7.1M▲1694.5%
Cash Flow
Operating Cash Flow$-23.5M▼864.9%
Instruments
Total
0.00 USD
| Instrument | Term | Coupon | Principal | Outstanding | Conv. price | BTC Rating |
|---|---|---|---|---|---|---|
| Total | 0.00 USD | |||||
Recent Changes
Sat, Mar 28, 2026
BTC Holdings
5.3K→5.1K-284 BTC(-5.3%)
Sold ~284 BTC (~$20M) post-year-end to establish USD operating reserve
Form 10-K (2025)Mon, Mar 23, 2026
Shares Outstanding
683.5M→690.0M+6.6M(+1.0%)
Post-merger shares; includes ~6.6M from RSU/option vesting since Feb 25
Form S-3 ($7B universal shelf registration)Wed, Feb 25, 2026
Shares Outstanding
439.9M→683.5M+243.6M(+55.4%)
Form 8-K (BTC Inc & UTXO acquisition completion)
Sat, Jan 24, 2026
Shares Outstanding
439.9M→439.9M-50.0K(-0.0%)
Treasury Dashboard
Wed, Dec 31, 2025
BTC Holdings
5.6K→5.3K-300.9 BTC(-5.3%)
Form 10-K (2025)
Shares Outstanding
427.2M→439.9M+12.8M(+3.0%)
Form 10-K (2025)
Wed, Dec 3, 2025
Debt OutstandingRepaymentAntalpha Interim BTC-Backed Loan
206.0M→0-206.0M(-100.0%)
Repaid with Kraken loan proceeds
Form 8-K (Kraken BTC-collateralized loan)Debt OutstandingKraken BTC-Collateralized Loan
210.0M
Form 8-K (Kraken BTC-collateralized loan)
Wed, Nov 19, 2025
BTC Holdings
5.8K→5.6K-122 BTC(-2.1%)
Treasury Dashboard