BTC Holdings
13,741 BTC
180d
Stock PriceMarket Closed
$10.63▲ 10.27%
180d
Total financing
457.32M USD
180d
mNAV
0.76x▲ 13.17%
180d
Leverage
0.0%
180d
Amplification
38.0%
180d
BTC Credit
29 bps2.6x
Sats/Share
19,815
180d
Mkt capFD
737.16M USD
SharesFD
69.35M
Fiat reserve
86.90M USD
Total reserve
1.06B USD
Dilution
0.2%
Coverage
17.4 yr
BTC mix
98%
Analytics
BTC Coverage
Financials
US-GAAPAnnualAs of 2025-12-31
Balance Sheet
Total Assets$745.5M▲2544.0%
Total Liabilities$14.3M▲194.3%
Stockholders' Equity$582.4M▲2395.2%
Cash & Equivalents$67.5M▲996.7%
Total Debt—
Digital Assets$46.4M
Income Statement
Revenue$1.5M▲138.7%
Operating Income$-241.1M▼964.4%
Net Income$-393.6M▼1723.9%
Interest Expense$0▼100.0%
Cash Flow
Operating Cash Flow$-25M▼15.7%
ATM Programs
BTC Acquired (est.)
1,958
Assumes 100% of proceeds to BTC
Total Proceeds
$176.1M
Avg BTC Cost (est.)
$90K
Shares Issued
9.5M
CommonSATA
Instruments
| Instrument | Term | Coupon | Principal | Outstanding | Conv. price | BTC Rating |
|---|---|---|---|---|---|---|
| ASST-Aug30 | Jan '25 – Aug '30 | 4.25% | 100.00M USD | 10.00M USD | 72.63 USD | >10x |
| Total | 10.00M USD | |||||
Recent Changes
Thu, Apr 2, 2026
BTC Holdings
13.6K→13.7K+113 BTC(+0.8%)
Form 8-K (BTC treasury update)
Shares Outstanding
69.2M→69.2M+50.3K(+0.1%)
Form 8-K (BTC treasury update)
Debt OutstandingIssuanceSATA
427.5M→437.3M+9.8M(+2.3%)
Form 8-K (BTC treasury update)
Fiat Reserve
83.7M→86.9M+3.2M(+3.8%)USD
Form 8-K (BTC treasury update)
Tue, Mar 17, 2026
BTC Holdings
13.3K→13.6K+317 BTC(+2.4%)
Q4 2025 Financial Results
Shares Outstanding
66.8M→69.2M+2.4M(+3.6%)
Q4 2025 Financial Results
Fiat Reserve
143.4M→83.7M-59.7M(-41.6%)USD
Q4 2025 Financial Results
ATM Activity2026-01-01 – 2026-03-17
8.2M shares$95.0M
Split-adjusted. $276.3M capacity remaining.. BTC est. assuming 100% proceeds to BTC at avg period price
Form 10-K (2025)ATM Activity2026-01-01 – 2026-03-17
$1.2M
$497.6M capacity remaining.. BTC est. assuming 100% proceeds to BTC at avg period price
Form 10-K (2025)Mon, Mar 9, 2026
BTC Holdings
13.1K→13.3K+179.2 BTC(+1.4%)
SATA Enhancements & Purchase of Bitcoin, STRC
Shares Outstanding
63.0M→66.8M+3.7M(+5.9%)
56,897,668 Class A + 9,880,117 Class B
SATA Enhancements & Purchase of Bitcoin, STRCDebt OutstandingSATA
427.5M
4,275,118 shares x $100 face value
SATA Enhancements & Purchase of Bitcoin, STRCFiat Reserve
127.2M→143.4M+16.2M(+12.7%)USD
$50M subsequently used to purchase STRC
SATA Enhancements & Purchase of Bitcoin, STRCWed, Feb 11, 2026
Shares Outstanding
62.4M→63.0M+676.7K(+1.1%)
Form 8-K (Dividend Rate Increase & Shares Outstanding)
Fiat Reserve
67.6M→127.2M+59.6M(+88.2%)USD
Form 8-K (Dividend Rate Increase & Shares Outstanding)