6 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $14M | -$9M | -22.5% | -62.7% | -$14M | — | $350000 |
| 2024 | $12M | -$2M | 1.0% | -22.9% | -$1M | — | $15M |
| 2023 | $9M | -$3M | -12.5% | -27.3% | $1M | — | $43000 |
| 2022 | $12M | $8M | 14.9% | 8.8% | -$40M | — | $48000 |
| 2021 | $114M | -$61M | 33.6% | 0.0% | -$84M | — | $26M |
| 2020 | $137M | -$63M | 32.3% | 0.0% | -$57M | — | $14M |
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Dec '24 | $4M | $17000 | 17.4% | -10.6% | -$537000 | — | $15M |
| Sep '24 | $3M | -$571000 | -10.2% | -21.2% | -$294000 | — | $27000 |
| Jun '24 | $2M | -$704000 | -9.2% | -27.0% | $77000 | — | $287000 |
| Mar '24 | $3M | -$731000 | -4.8% | -40.3% | -$433000 | — | $32000 |
| Dec '23 | $944000 | -$702000 | -51.3% | -72.9% | $1M | — | $43000 |
| Sep '23 | $845000 | -$1M | -64.0% | -82.1% | -$363000 | — | — |
| Jun '23 | $6M | -$135000 | 3.7% | -1.6% | -$3M | — | $215000 |
| Mar '23 | $907000 | -$980000 | -37.8% | -110.3% | $4M | — | — |
| Dec '19 | — | -$5142 | — | — | — | — | — |
How the market has priced BTCT against its own fundamentals since 2023-09 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
Over the past 5 years, BTC Digital Ltd.'s revenue has declined 36.6% per year. These are computed facts, not advice.
As of FY2025, BTC Digital Ltd. reported — of total debt against $350000 of cash; operating income covered interest expense -142.1×.
In FY2025, gross margin was -22.5%, operating margin -62.7%, and net margin -64.5%.
As of Jun '26, BTC Digital Ltd. traded at a price-to-earnings ratio of about 5.1× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.