Every 10-Q that BTCS Inc. (BTCS) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow BTCS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full BTCS filings page.
BTCS Inc. (BTCS) reports sharp deterioration for the quarter and six months ended June 30, 2026, driven by large losses on digital assets. Total revenues were $2.45 million for the quarter and $4.59 million for the first half of 2026, roughly flat versus the prior-year period, with DeFi revenues increasing but blockchain infrastructure revenues declining.
Net loss was $34.9 million for the quarter versus net income of $3.9 million a year earlier, and $104.1 million for the first half versus a $13.4 million loss in 2025. Losses were driven by $57.1 million of unrealized losses, $34.2 million of realized losses on digital assets, and $5.5 million of impairment on liquidity pool and other intangible digital assets. The fair value of digital assets fell to $80.5 million from $210.8 million at year-end, while stockholders’ equity declined to $38.8 million from $139.4 million. Cash and cash equivalents were only $262,436, with $36.0 million of DeFi protocol loans and $13.5 million of convertible notes outstanding. BTCS also revised prior-period cash flow statements to reclassify certain non-cash DeFi transactions, concluding the errors were not material.
BTCS Inc. reported blockchain-focused operations with growing complexity but sharply weaker financial results for the three months ended March 31, 2026. Revenue rose to $2.15M from $1.69M, driven by new DeFi revenues of $1.01M alongside blockchain infrastructure revenues of $1.14M.
However, heavy realized and unrealized losses on digital assets of about $29.3M and $35.7M, plus impairment charges, led to a net loss of $69.2M versus $17.3M a year earlier. The fair value of digital assets fell from $210.8M to $116.0M, while stockholders’ equity dropped from $139.4M to $72.1M.
BTCS holds significant ETH deployed in staking and DeFi, including Aave-based borrowing, with loans payable to DeFi protocols of $43.8M and cash of only $0.28M. The company highlights substantial dependence on the Ethereum ecosystem and DeFi protocols, exposing it to price volatility, smart contract, collateral, and liquidity risks.
BTCS Inc. reported a sharp step-up in scale in Q3 2025 as its Ethereum‑focused strategy and new DeFi operations flowed through results. Revenue rose to $4.94 million for the quarter (vs. $0.74 million a year ago) and $9.40 million for the nine months (vs. $1.75 million). Blockchain infrastructure contributed $4.22 million, including Builder+ at $3.36 million, while DeFi (Imperium) added $0.72 million.
Operating expenses grew with platform build‑out, producing an operating loss, but net income was $65.6 million for Q3 and $52.2 million year‑to‑date, driven primarily by a $73.7 million quarterly unrealized appreciation of crypto assets. Gross profit was $1.09 million in Q3.
The balance sheet expanded meaningfully: total assets reached $298.9 million (from $38.2 million at year‑end), led by Crypto assets – DeFi $161.7 million and Crypto assets – staked $129.2 million. Liabilities included Loans payable – DeFi protocol $56.5 million and Convertible notes $11.1 million. Stockholders’ equity rose to $225.4 million. Cash from financing reflected $135.2 million net ATM proceeds and $57.9 million DeFi borrowing; investing used $199.9 million to acquire productive crypto assets. Shares outstanding were 46,838,532 as of November 10, 2025.
BTCS Inc. reported strong quarter-over-quarter revenue growth driven by its Builder+ block-building business, with $2.77 million in total revenues for the three months ended June 30, 2025 (versus $561,192 a year earlier) and $4.46 million for the six months (versus $1.01 million). Revenue mix shifted heavily to Builder+, which generated $2.51 million in the quarter. Although gross profit for the quarter was a $80,935 loss due to higher block-building costs, a large $8.79 million unrealized appreciation in crypto assets produced net income of $3.88 million for the quarter; the six-month period showed a $13.39 million net loss.
The balance sheet shows $40.81 million total assets, including crypto assets at fair value of $39.43 million (14,659 ETH valued at $36.44 million), cash of $639,189, and total liabilities of $9.74 million (including a $4.00 million DeFi loan and $4.80 million convertible notes). Stockholders' equity was $31.07 million. The company completed an ETH-centric strategic realignment, winding down non-Ethereum validator operations and selling most non-ETH tokens, and raised net ATM proceeds of approximately $4.08 million during the six months.