What is Bit Origin Limited's earnings per share (EPS)?

Bit Origin Limited (BTOG) reported diluted earnings per share of -$0.28 for fiscal year 2025. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Bit Origin Limited Financials

BTOG

FY2025 annual

Revenue $39K -98.6% YoY

Net Income -$4.4M +75.1% YoY

EPS (Diluted) -$0.28 YoY not available

Free Cash Flow Not reported for FY2025

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Dec 31, 2025 Reported Jun 30, 2026 Currency USD FYE June

Bit Origin Limited (BTOG) reported $39K in revenue for fiscal year 2025, down 98.6% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 9 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI BTOG FY2025 2026-08-30

Revenue has nearly disappeared, while financing support has reversed and operating costs still consume cash.

In FY2025, revenue was only $39K while selling, general and administrative expense was $3.1M, showing that overhead had become disconnected from sales volume. Operating cash flow was -$2.3M, so the business was not converting even its small reported revenue into internally generated cash.

Reported gross margin improved from -72.9% in FY2023 to -32.7% in FY2024, but those percentages still mean reported cost of revenue exceeded sales in both years. FY2025 then shows 100.0% because cost of revenue is not reported, making the apparent margin step-up a reporting discontinuity rather than evidence of operating improvement.

Recorded liabilities fell from $5.8M in FY2024 to $372K in FY2025, a major balance-sheet shift that materially changes the financing posture. The latest current ratio was 9.5x, yet operating cash flow remained -$2.3M; reported coverage therefore does not describe a self-funding operating model.

Financial Health Signals

Financial health score not available

Bit Origin Limited does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

4/8

Bit Origin Limited passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality No Cash Backing

N/A

Bit Origin Limited reported a net loss of $4.4M while operations used $2.3M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Interest Coverage At Risk

N/A

Bit Origin Limited reported an operating loss of $3.0M against $455K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$39K

YoY-98.6%

5Y CAGR-72.3%

Bit Origin Limited generated $39K in revenue in fiscal year 2025. This represents a decrease of 98.6% from the prior year.

EBITDA

-$3.0M

YoY+78.5%

Bit Origin Limited's EBITDA was -$3.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 78.5% from the prior year.

Net Income

-$4.4M

YoY+75.1%

Bit Origin Limited reported -$4.4M in net income in fiscal year 2025. This represents an increase of 75.1% from the prior year.

EPS (Diluted)

-$0.28

Bit Origin Limited earned -$0.28 per diluted share (EPS) in fiscal year 2025.

Cash & Balance Sheet

Cash & Debt

$56K

YoY-96.1%

5Y CAGR-44.7%

Bit Origin Limited held $56K in cash as of fiscal year 2025; long-term debt is not reported for that period.

Shares Outstanding

58M

Bit Origin Limited had 58M shares outstanding in fiscal year 2025.

Free Cash Flow

Not reported for fiscal year 2025.

Dividends Per Share

Not reported for fiscal year 2025.

Margins & Returns

Gross Margin

100.0%

YoY+132.7pp

5Y CAGR+91.6pp

Bit Origin Limited's gross margin was 100.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 132.7 percentage points from the prior year.

Return on Equity

-112.1%

YoY+942.4pp

Bit Origin Limited's ROE was -112.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 942.4 percentage points from the prior year.

Operating Margin

Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Net Margin

Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Capital Allocation

None of these metrics is reported for fiscal year 2025.

BTOG Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

BTOG quarterly income statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17
Revenue	$39K-98.6%	$2.9M-53.9%	$6.3M0.0%	$6.3M-92.2%	$80.5M+232.0%	$24.2M-75.5%	$99.1M-2.0%	$101.1M+59.8%	$63.3M
Cost of Revenue	N/A	$3.8M-64.6%	$10.8M0.0%	$10.8M-86.0%	$77.5M+248.8%	$22.2M-75.4%	$90.4M-1.1%	$91.5M+57.1%	$58.2M
Gross Profit	$39K+104.2%	-$945K+79.3%	-$4.6M0.0%	-$4.6M-252.3%	$3.0M+47.7%	$2.0M-76.5%	$8.7M-10.4%	$9.7M+90.5%	$5.1M
SG&A Expenses	$3.1M-19.2%	$3.8M+30.9%	$2.9M0.0%	$2.9M+83.9%	$1.6M-36.9%	$2.5M+391.4%	$511K-47.9%	$981K+90.3%	$516K
Operating Income	-$3.0M+79.8%	-$14.8M+47.6%	-$28.3M0.0%	-$28.3M-714.7%	-$3.5M-0.9%	-$3.4M-573.4%	-$511K-107.3%	$7.0M+100.0%	$3.5M
Interest Expense	$455K+5245.8%	$9K-96.3%	$227K+320.0%	$54K-65.3%	$156K+26.7%	$123K-83.1%	$731K-43.0%	$1.3M+92.0%	$668K
Income Tax	N/A	N/A	N/A	N/A	-$1.0M-549.1%	$223K+4.5%	$214K-70.1%	$714K-18.4%	$876K
Net Income	-$4.4M+75.1%	-$17.5M+37.9%	-$28.2M-971.0%	$3.2M+107.1%	-$45.6M-835.2%	-$4.9M-211.8%	$4.4M+15.8%	$3.8M+53.5%	$2.5M
EPS (Diluted)	-$0.28	-$3.34	-$8.61	-$8.61-161.7%	-$3.29	-$0.18-185.7%	$0.21+10.5%	$0.19+58.3%	$0.12

Metric	Q2'26	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q4'22	Q4'21

Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, Interest Expense, Income Tax, Net Income, EPS (Diluted).

BTOG Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

BTOG quarterly balance sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17
Total Assets	$3.5M-47.1%	$6.7M-49.9%	$13.3M-61.8%	$35.0M-14.5%	$40.9M-35.5%	$63.3M+23.4%	$51.4M+52.2%	$33.7M	N/A
Current Assets	$3.5M-47.1%	$6.7M+87.1%	$3.6M-85.1%	$23.9M-26.4%	$32.5M-35.3%	$50.3M+10.0%	$45.7M+57.3%	$29.0M	N/A
Cash & Equivalents	$56K-96.1%	$1.4M+8558.4%	$16K-8.6%	$18K+816.4%	$2K-99.8%	$1.1M-60.1%	$2.7M+741.3%	$319K+1382.1%	$22K
Inventory	N/A	N/A	N/A	N/A	$229K	$0-100.0%	$113K+4029.1%	$3K	N/A
Accounts Receivable	N/A	$117K	$0	$0-100.0%	$11.1M+13.3%	$9.8M-75.1%	$39.5M+62.2%	$24.4M	N/A
Goodwill	N/A	N/A	N/A	N/A	$0-100.0%	$5.2M	$0	N/A	N/A
Total Liabilities	$372K-93.6%	$5.8M+87.8%	$3.1M+925.0%	$300K-99.3%	$42.5M+16.4%	$36.5M+36.1%	$26.8M+49.9%	$17.9M	N/A
Current Liabilities	$372K-85.1%	$2.5M-3.8%	$2.6M+762.9%	$300K-99.2%	$38.7M+18.2%	$32.7M+43.4%	$22.8M+35.0%	$16.9M	N/A
Total Equity	$3.9M+134.6%	$1.7M-83.8%	$10.3M-70.4%	$34.7M+1175.7%	-$3.2M-113.5%	$23.8M-2.9%	$24.5M+74.8%	$14.0M+38.5%	$10.1M

Metric	Q2'26	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q4'22	Q4'21
Total Assets	$12.9M+265.1%	$3.5M-12.3%	$4.0M-39.7%	$6.7M-50.4%	$13.5M+1.0%	$13.3M-61.8%	$35.0M-14.5%	$40.9M
Current Assets	$12.7M+259.5%	$3.5M-12.3%	$4.0M-39.7%	$6.7M-26.8%	$9.1M+155.6%	$3.6M-85.1%	$23.9M-26.4%	$32.5M
Cash & Equivalents	$485K+771.6%	$56K	N/A	$1.4M-79.5%	$6.9M+42225.2%	$16K-8.6%	$18K+816.4%	$2K
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$229K
Accounts Receivable	$0	N/A	$0-100.0%	$117K	$0	$0	$0-100.0%	$11.1M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0
Total Liabilities	$14.7M+3855.1%	$372K-93.7%	$5.9M+2.7%	$5.8M+28.0%	$4.5M+46.7%	$3.1M+925.0%	$300K-99.3%	$42.5M
Current Liabilities	$283K-24.0%	$372K-81.2%	$2.0M-20.6%	$2.5M+52.5%	$1.6M-36.9%	$2.6M+762.9%	$300K-99.2%	$38.7M
Total Equity	-$1.1M-128.2%	$3.9M+444.5%	-$1.1M-168.1%	$1.7M-81.4%	$9.0M-12.7%	$10.3M-70.4%	$34.7M+1175.7%	-$3.2M

Not reported in any period shown, so not listed: Long-Term Debt, Retained Earnings.

BTOG Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

BTOG quarterly cash flow statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17
Operating Cash Flow	-$2.3M+71.1%	-$7.9M-17.3%	-$6.8M+52.5%	-$14.2M-37.0%	-$10.4M-75.7%	-$5.9M-12.2%	-$5.3M-46.5%	-$3.6M-43.0%	-$2.5M
Capital Expenditures	N/A	N/A	$115K-98.6%	$8.3M	N/A	$700K+3294.2%	$21K-76.9%	$89K+665.4%	$12K
Free Cash Flow	N/A	N/A	-$6.9M+69.5%	-$22.5M	N/A	-$6.6M-25.0%	-$5.3M-43.5%	-$3.7M-45.9%	-$2.5M
Investing Cash Flow	$1.5M+51.1%	$1.0M-76.0%	$4.3M+137.8%	-$11.3M	$0-100.0%	$159K-86.7%	$1.2M+1435.8%	-$89K-665.4%	-$12K
Financing Cash Flow	-$609K-107.3%	$8.3M+233.2%	$2.5M-90.4%	$25.9M+205.2%	$8.5M+108.4%	$4.1M-38.7%	$6.7M+66.6%	$4.0M+59.9%	$2.5M

Metric	Q2'26	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q4'22	Q4'21

Not reported in any period shown, so not listed: Operating Cash Flow, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.

BTOG Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

BTOG quarterly financial ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17
Gross Margin	100.0%+132.7pp	-32.7%+40.2pp	-72.9%0.0pp	-72.9%-76.6pp	3.7%-4.7pp	8.4%-0.4pp	8.7%-0.8pp	9.6%+1.5pp	8.0%
Operating Margin	-7574.9%	-513.6%	-452.1%	-452.1%	-4.3%+9.9pp	-14.2%-13.7pp	-0.5%-7.5pp	7.0%+1.4pp	5.6%
Net Margin	-11064.4%	-606.9%	-450.7%	51.7%+108.4pp	-56.7%-36.5pp	-20.1%-24.5pp	4.4%+0.7pp	3.7%-0.2pp	3.9%
Return on Equity	-112.1%+942.4pp	-1054.4%-779.5pp	-275.0%-284.3pp	9.3%	N/A	-20.5%-38.3pp	17.8%-9.1pp	26.9%+2.6pp	24.2%
Return on Assets	-123.6%+138.7pp	-262.3%-50.7pp	-211.6%-220.8pp	9.3%+120.8pp	-111.6%-103.9pp	-7.7%-16.2pp	8.5%-2.7pp	11.2%	N/A
Current Ratio	9.50+6.8x	2.68+1.3x	1.38-78.4x	79.77+78.9x	0.84-0.7x	1.54-0.5x	2.00+0.3x	1.72	N/A
Debt-to-Equity	0.10-3.4x	3.47+3.2x	0.30+0.3x	0.01	N/A	1.53+0.4x	1.09-0.2x	1.28	N/A
FCF Margin	N/A	N/A	-109.8%	-360.0%	N/A	-27.3%-21.9pp	-5.3%-1.7pp	-3.6%+0.3pp	-4.0%

Metric	Q2'26	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q4'22	Q4'21
Current Ratio	44.93+35.4x	9.50+7.5x	2.04-0.6x	2.68-2.9x	5.59+4.2x	1.38-78.4x	79.77+78.9x	0.84
Debt-to-Equity	N/A	0.10	N/A	3.47+3.0x	0.50+0.2x	0.30+0.3x	0.01	N/A

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, FCF Margin.

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Where Bit Origin Limited Ranks

Frequently Asked Questions

What is Bit Origin Limited's annual revenue?

Bit Origin Limited (BTOG) reported $39K in total revenue for fiscal year 2025. This represents a -98.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Bit Origin Limited's revenue growing?

Bit Origin Limited (BTOG) revenue declined by 98.6% year-over-year, from $2.9M to $39K in fiscal year 2025.

Is Bit Origin Limited profitable?

No, Bit Origin Limited (BTOG) reported a net income of -$4.4M in fiscal year 2025.

What is Bit Origin Limited's EBITDA?

Bit Origin Limited (BTOG) had EBITDA of -$3.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Bit Origin Limited's gross margin?

Bit Origin Limited (BTOG) had a gross margin of 100.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Bit Origin Limited's return on equity (ROE)?

Bit Origin Limited (BTOG) has a return on equity of -112.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Bit Origin Limited's operating cash flow?

Bit Origin Limited (BTOG) recorded an outflow of $2.3M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are Bit Origin Limited's total assets?

Bit Origin Limited (BTOG) had $3.5M in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Bit Origin Limited have outstanding?

Bit Origin Limited (BTOG) had 58M shares outstanding as of fiscal year 2025.

What is Bit Origin Limited's current ratio?

Bit Origin Limited (BTOG) had a current ratio of 9.50 as of fiscal year 2025, which is generally considered healthy.

What is Bit Origin Limited's debt-to-equity ratio?

Bit Origin Limited (BTOG) had a debt-to-equity ratio of 0.10 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Bit Origin Limited's return on assets (ROA)?

Bit Origin Limited (BTOG) had a return on assets of -123.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Bit Origin Limited's Piotroski F-Score?

Bit Origin Limited (BTOG) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Bit Origin Limited's earnings high quality?

Bit Origin Limited (BTOG) reported a net loss of $4.4M while operations used $2.3M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Bit Origin Limited cover its interest payments?

Bit Origin Limited (BTOG) reported an operating loss of $3.0M against $455K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.