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BTCS on Nasdaq

BTCS Inc.

BTCS Inc. is an American finance services company that raised $7.4 million in 2025 (SEC Form D).2 It is headquartered in Silver Spring, United States.2

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Last updated Oct 21, 2026.

Overview

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  • TickerBTCS on Nasdaq2
  • IndustryFinance Services2
  • HeadquartersSilver Spring, United States2
  • Incorporated inNV3
  • Business address303 W. Lancaster Ave #336, Wayne, Pa 190873
  • Filer categoryNon-accelerated filer, Smaller reporting company3
  • Legal formCorporation2
  • LEI549300HVP35DWSOZOH212
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered address701 S CARSON ST STE 200, 89701 Carson City, United States2
  • Registered withBusiness Center (Secretary of State), E0242752008-32

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In exchange, BTCS earns ETH-denominated staking revenue, which include protocol-defined rewards and execution layer transaction fees.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

12.2%Gross margin5
-202.2%Net margin5
304.8%Revenue growth, 20255
-23.9%Return on equity5
-$9.8MFree cash flow5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Builder+ brought in 74% of the revenue BTCS Inc. broke down this way in fiscal 2025.

  1. Builder+$13.1M574%up 435% from 2024
  2. NodeOps$2.1M512%up 27% from 2024
  3. DeFi Revenues$1.3M57%
  4. Imperium$1.3M57%
Products and services by year
Products and services20242025
Builder+$2.5M$13.1M
NodeOps$1.6M$2.1M
DeFi Revenues$1.3M
Imperium$1.3M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue87¢$14.5M
  • Research and development4¢$679.4K
  • Interest9¢$1.5M

Out of $16.5M in revenue.5 The company lost money this year.

Financial statements

Revenue6785$16.5M in 2025+1259% since 2021
0$5.0M$10.0M$15.0M$20.0M2021: $1.2M$1.2M20212022: $1.7M$1.7M2022+39%2023: $1.3M$1.3M2023−21%2024: $4.1M$4.1M2024+204%2025: $16.5M$16.5M2025+305%
Gross profit6785$2.0M in 2025+113% since 2021
0$1.0M$2.0M$3.0M2021: $944.9K$944.9K20212022: $1.3M$1.3M2022+34%2023: $979.9K$979.9K2023−23%2024: $946.0K$946.0K2024−3%2025: $2.0M$2.0M2025+112%
Net income9106785-$33.4M in 2025+1933% since 2019
-$40.0M-$20.0M0$20.0M2019: -$1.6M-$1.6M20192020: -$2.6M-$2.6M2020+56%2021: -$16.0M-$16.0M2021+528%2022: -$15.9M-$15.9M2022−1%2023: $7.8M$7.8M20232024: -$1.3M-$1.3M20242025: -$33.4M-$33.4M2025+2524%

Every line of the income statement as filed: the last 2 fiscal years, latest first.5

Period ending2025-12-312024-12-31
Total revenues$16.5M$4.1M
Total cost of revenues$14.5M$3.1M
Gross profit$2.0M$946.0K
Professional fees$1.7M$645.1K
General and administrative$1.6M$1.0M
Research and development$679.4K$755.8K
Compensation and related expenses$3.5M$6.6M
Marketing$602.5K$81.0K
Realized losses on digital asset transactions$8.2M$767.4K
Unrealized loss (gain) on digital assets$15.7M-$7.7M
Total operating expenses$31.9M$2.2M
Interest expense-$3.5M
Change in fair value of warrant liabilities$267.9K-$54.1K
Impairment loss on non-fungible tokens-$149.6K
Loss on settlement of dividend payable-$52.8K
Loss on extinguishment of debt-$8.7K
Other income$28.0K
Total other income (expenses)-$3.5M-$26.1K
Net loss-$33.4M-$1.3M
Basic net loss per share attributable to common stockholders-$1.00-$0.08
Diluted net loss per share attributable to common stockholders-$1.00-$0.08
Basic weighted average number of common shares outstanding33.2M shares16.3M shares
Diluted weighted average number of common shares outstanding, basic and diluted33.2M shares16.3M shares

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Corporate structure

BTCS Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of BTCS Inc.

  • State Street Corporation Filed SCHEDULE 13G on BTCS Inc., latest Aug 7, 2026 (2 filings since Feb 9, 2026)
  • Brian James Pemble Filed SCHEDULE 13G/A on BTCS Inc., latest Oct 14, 2025 (2 filings since Oct 14, 2025)
  • BTCS Inc. Silver Spring, Maryland, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What BTCS Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, net$14.4K5 Dec 31, 2025$7.4K5 Dec 31, 2024+93.2%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$1.5M5 Dec 31, 2025$2.0M5 Dec 31, 2024−22.8%

Properties, in its own words

As of the date of this report, the Company did not have any owned or leased properties.

Item 2 of the 10-K filed Mar 26, 2026.4

Leadership

Who has led BTCS Inc., and when. Pick a name to see everywhere that person has worked.

Chair

  1. Michal Handerhan2014

Chief operating officer

  1. Michal Handerhan2014–now
201520202025
Board members and other officers (13)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive Officer, DirectorCharles Allen named May 27, 202526
  • Executive OfficerMichael Prevoznik named May 27, 202526

Former names

  • Bitcoin Shop, Inc.Apr 28, 2015 to Jul 28, 20153
  • BITCOIN SHOP INC.Feb 5, 2014 to Apr 22, 20153
  • TouchIT Technologies, Inc.May 24, 2010 to Jan 29, 20143
  • Hotel Management Systems, Inc.May 29, 2008 to May 18, 20103

Timeline

  1. Aug 25, 20268-K New debt or obligation27
  2. Aug 20, 20268-K Regulation FD disclosure28
  3. Jul 1, 20268-K Executive or director change; Regulation FD disclosure29
  4. Jun 9, 20268-K Shareholder vote; Other events30
  5. Jun 1, 20268-K Bylaws or fiscal year changed31
  6. May 15, 20268-K Regulation FD disclosure32
  7. Mar 31, 20268-K Change of auditor33
  8. Mar 27, 20268-K Regulation FD disclosure34
  9. Mar 16, 20268-K Executive or director change35
  10. Mar 11, 20268-K Results of operations36
  11. Feb 6, 20268-K Other events37
  12. Jan 7, 20268-K Results of operations38
  13. Apr 14, 2008Founded BTCS Inc. is founded2

Calendar

Coming up

  1. Nov 12, 2026Reports results for the quarter ending Sep/202639

When it reported results

  1. Mar 11, 2026Reported quarterly or annual results36
  2. Jan 7, 2026Reported quarterly or annual results38
  3. Jul 2, 2025Reported quarterly or annual results40
  4. Mar 14, 2022Reported quarterly or annual results41
  5. Nov 10, 2021Reported quarterly or annual results42

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

267 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 79 major events, 103 insider forms, 4 large holders, 1 private raises, 59 other. The latest 20:

  1. Oct 9, 20264 EDGAR
  2. Oct 9, 20264 EDGAR
  3. Oct 9, 20264 EDGAR
  4. Aug 25, 20268-K EDGAR
  5. Aug 20, 20268-K EDGAR
  6. Aug 19, 202610-Q EDGAR
  7. Aug 17, 2026NT 10-Q EDGAR
  8. Aug 7, 2026SCHEDULE 13G EDGAR
  9. Jul 7, 20263 EDGAR
  10. Jul 1, 20268-K EDGAR
  11. Jun 16, 20264 EDGAR
  12. Jun 12, 20264 EDGAR
  13. Jun 11, 20264 EDGAR
  14. Jun 9, 20268-K EDGAR
  15. Jun 1, 2026DEFA14A EDGAR
  16. Jun 1, 20268-K EDGAR
  17. May 15, 20268-K EDGAR
  18. May 14, 202610-Q EDGAR
  19. Apr 15, 2026DEF 14A EDGAR
  20. Apr 6, 2026PRE 14A EDGAR

The 267 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

28 open-market trades by officers, directors and large owners since October 2021: 4 buys and 24 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 15, 2026Allen Charles WCEOSale168,000$1.22$205.0KForm 4
Jun 12, 2026Allen Charles WCEOSale87,000$1.15$100.0KForm 4
Jun 11, 2026Allen Charles WCEOSale165,000$1.11$183.2KForm 4
Jun 10, 2026Hunter Benjamin HenryCTOSale10,000$1.21$12.1KForm 4
Jun 10, 2026Allen Charles WCEOSale150,000$1.19$178.5KForm 4
Jun 9, 2026Allen Charles WCEOSale105,000$1.27$133.3KForm 4
Nov 19, 2025Allen Charles WCEOBuy71,001$2.89$204.9KForm 4
Nov 18, 2025Allen Charles WCEOBuy19,499$2.90$56.5KForm 4
Aug 18, 2025Allen Charles WCEOSale50,000$4.77$238.5KForm 4
Aug 14, 2025Allen Charles WCEOSale50,000$4.13$206.5KForm 4
Jul 16, 2025Handerhan MichalDirectorSale112,779$6.00$676.7KForm 4
Jul 8, 2025Handerhan MichalDirectorSale87,221$6.04$526.8KForm 4
May 9, 2025Handerhan MichalDirectorSale150,000$3.00$450.0KForm 4
Apr 9, 2025Allen Charles WCEOSale65,000$1.44$93.6KForm 4
Apr 8, 2025Allen Charles WCEOSale50,000$1.44$72.0KForm 4
Apr 7, 2025Allen Charles WCEOSale85,000$1.37$116.5KForm 4
Nov 25, 2024Pump MelanieDirectorSale22,000$3.49$76.8KForm 4
Jun 6, 2024Pump MelanieDirectorSale6,641$1.55$10.3KForm 4
Jun 5, 2024Pump MelanieDirectorSale14,998$1.56$23.4KForm 4
Jun 4, 2024Pump MelanieDirectorSale3,361$1.60$5.4KForm 4

All 28 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Charles Allen50$449.6K$2.7M45
2025Michael Prevoznik36$260.2K$1.4M45
2025Michal Handerhan$300.5K$341.3K45
2024Chief Executive Officer$429.9K$3.0M45
2024Chief Operations Officer$300.3K$1.4M45
2024Chief Financial Officer$245.7K$1.3M45

Money raised

Private offerings the company reported to the SEC on Form D.

  1. May 13, 2025Raised $7.4 million in a private offering of debt Form D: 3 investors so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 53. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Vanguard Capital Management LLC1,362,751$1.5M0.0%−415,282
Millennium Management LLC1,128,350$1.3M0.0%+663,721
Renaissance Technologies LLC1,058,530$1.2M0.0%+1,430
BlackRock, Inc.773,051$858.1K0.0%+15,562
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.626,136$695.0K0.0%+120,409
Jane Street Group, LLC522,653$580.1K0.0%+239,762
Geode Capital Management, LLC432,434$480.2K0.0%−658,564
UBS Group AG348,795$387.2K0.0%−9,087
Vanguard Fiduciary Trust Co261,081$289.8K0.0%+45,709
State Street Corp160,000$177.6K0.0%−2,369,595
Invesco Ltd.139,308$154.6K0.0%+48,885
XTX Topco Ltd138,057$153.2K0.0%+83,350
Squarepoint Ops LLC118,965$132.1K0.0%−31,716
Susquehanna International Group, Llp110,417$122.6K0.0%−16,709
Northern Trust Corp82,393$91.5K0.0%−68,470
Commonwealth Equity Services, LLC79,149$87.9K0.0%−5,245
Bank of New York Mellon Corp72,044$80.0K0.0%−1,602
Quadrature Capital Ltd56,091$62.3K0.0%New
Centiva Capital, LP46,265$51.4K0.0%−23,408
Citadel Advisors LLC39,942$44.3K0.0%+25,265
DLK Investment Management, LLC31,590$43.6K0.0%New
Engineers Gate Manager LP27,145$30.1K0.0%New
Act Wealth Management, LLC24,000$26.6K0.0%+2,000
Group One Trading LLC21,795$24.2K0.0%−11,160
Goldman Sachs Group Inc17,452$19.4K0.0%+2,094

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How BTCS Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARBTCS Inc.1
  • CIK0001436229
  • Employer ID (EIN)90-10966444
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; a shell company4
  • Incorporated inNevada4
  • Fiscal year endsDecember 311
  • Industry code (SIC)6199 Finance Services1
  • SEC reviewing officeOffice of Crypto Assets, Division of Corporation Finance1
  • Business address303 W. Lancaster Ave #336, Wayne, PA 190871
  • Phone202-430-65761
  • Shares outstanding52,471,941 as of Aug 17, 202612
  • Public float$33.9M as of Jun 30, 20254
  • AuditorRBSM LLP, New York, NY PCAOB ID 587; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceMay 29, 20081
  • Filings695 in all: 8-K (195), 4 (151), 10-Q (56), CORRESP (37), UPLOAD (34), 424B3 (26), 10-K (18), 3 (15)1
    All 44 form types

    S-1/A (15), 10-Q/A (13), EFFECT (13), 144 (11), D (11), 10-K/A (10), NT 10-Q (9), 424B5 (8), S-1 (8), 8-K/A (6), DEF 14A (6), PRE 14A (5), DEFA14A (4), NT 10-K (4), S-3 (4), SC 13D (4), SC 13D/A (4), SC 13G (3), SCHEDULE 13G (3), 4/A (2), DEF 14C (2), DRS (2), PRE 14C (2), PRER14C (2), 8-A12B (1), 8-A12G (1), CERT (1), DEFR14A (1), POS AM (1), PRER14A (1), RW (1), S-3/A (1), S-3MEF (1), S-8 (1), SC 13G/A (1), SCHEDULE 13G/A (1)

  • Latest filingsAnnual report (10-K) Mar 26, 2026
    Quarterly report (10-Q) Aug 19, 2026
    Proxy statement (DEF 14A) Apr 15, 2026
    Latest 8-K (8-K) Aug 25, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.001BTCSThe Nasdaq Stock Market

From the cover page of the 10-K filed Mar 26, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks BTCS Inc. names in Item 1A of its 10-K filed Mar 26, 2026: 41 risks under these headings, as written.4

  • Risks Related to Our Business Model, Strategy, and Operating Environment
  • We operate in a rapidly evolving industry, and our business model and strategy may not be successful.
  • Our business is highly dependent on Ethereum, and our concentration in ETH exposes us to significant risks that could materially adversely affect our business, financial condition, and results of operations.
  • We may not be able to successfully execute our strategy to scale our blockchain infrastructure operations and DeFi activities.
  • We may be required to sell digital assets to fund operations, meet obligations, or respond to market conditions, which could result in realized losses and adversely affect our financial condition and results of operations.
  • Digital asset market disruptions, exchange failures, or loss of liquidity could impair our ability to access or convert digital assets.
  • Risks Related to Validator Node Operations (NodeOps)
  • Our validator node operations, including operations through pooled staking protocols, depend on reliable infrastructure, may be subject to reduced rewards, penalties, or slashing.
  • Risks related to our validator node operations through pooled staking protocols such as Rocket Pool could adversely affect our business, results of operations, and financial condition.
  • Changes to Ethereum staking economics, validator requirements, or protocol rules could reduce our staking revenues.
  • Staked ETH may be subject to withdrawal delays or other constraints that could adversely affect liquidity.
  • Risks Related to Block Building (Builder+), MEV, and Transaction Execution
The other 32 risks
  • Our Builder+ revenues depend on highly competitive and rapidly evolving transaction execution markets.
  • Our Builder+ operations depend on the continued functioning and adoption of the broader block-building and MEV relay ecosystem, and disruptions to that ecosystem could materially reduce our revenues.
  • Changes to the Ethereum protocol could adversely affect the economics of our Builder+ operations.
  • Our block-building activities may be subject to reputational risks, regulatory scrutiny, and evolving market norms.
  • Risks Related to DeFi Operations (Imperium), Smart Contracts, and Protocol Participation
  • Our participation in DeFi protocols and pooled staking arrangements exposes us to smart contract risk, oracle risk, governance risk, and protocol failure risk, which could result in the loss of digital assets.
  • DeFi revenue is variable, may decline, and may not be sustainable.
  • DeFi protocols may change their rules, parameters, or governance decisions in ways that adversely affect our revenue.
  • Risks Related to ETH-Backed DeFi Borrowing, Leverage, and Liquidation
  • Our ETH-backed borrowings through DeFi protocols subject us to liquidation risk and declines in ETH prices or adverse protocol conditions could result in forced liquidations, material losses, and potential defaults under our Senior Convertible Notes.
  • Variable interest rates and protocol-level changes may increase our cost of capital.
  • Risks Related to Capital Markets, Financing Strategy, and Dilution
  • Our ability to raise capital may be limited, and we may need additional capital to execute our strategy.
  • Our business depends on access to banking services and financial infrastructure and the loss of banking relationships could materially adversely affect our business.
  • Sales of our common stock through our ATM program or other offerings may result in substantial dilution to existing shareholders.
  • Our Senior Convertible Notes may result in dilution and contain provisions that may adversely affect shareholders.
  • Our share repurchase program may not enhance shareholder value and may reduce liquidity.
  • Risks Related to Cybersecurity, Custody, and Digital Asset Security
  • If we experience a cybersecurity incident, theft, loss of private keys, or compromise of wallet controls, we could lose digital assets and suffer significant harm.
  • We rely on third-party vendors, service providers, and infrastructure providers, and disruptions or failures involving these third parties could materially adversely affect our business.
  • We do not maintain insurance coverage for losses of digital assets.
  • Risks Related to Regulation, Legal Uncertainty, and Government Oversight
  • The regulatory landscape for digital assets, blockchain infrastructure, DeFi, and related activities is rapidly evolving, and regulatory developments could materially adversely affect our business.
  • Digital assets, including ETH, are subject to evolving and uncertain regulatory classifications, and adverse regulatory developments, including classification of digital assets as securities or classification of the Company as an investment company under the Investment Company Act of 1940, could materially adversely affect our business.
  • Our validator node operations, block-building activities, and DeFi participation may be subject to increased regulatory scrutiny and could be deemed to involve regulated activities.
  • Regulatory actions, enforcement proceedings, or legal restrictions affecting third parties and protocols we rely on could materially adversely affect our business.
  • Regulatory authorities may take enforcement actions or adopt rules that could materially adversely affect our operations.
  • Regulatory requirements related to anti-money laundering (“AML”), sanctions, and financial crime compliance could adversely affect our business.
  • We may be subject to state money transmission laws or other licensing requirements.
  • Regulation of stablecoins could materially adversely affect our DeFi activities.
  • Tax laws and reporting requirements related to digital assets are evolving and could adversely affect our business.
  • Accounting standards, SEC disclosure expectations, and audit practices for digital assets may evolve and could materially adversely affect our reporting obligations.
  • International regulatory developments could adversely affect our business.
  • Risks Related to Our Public Company Status, Internal Controls, and Reporting
  • We face increased financial reporting and internal control risks due to the complexity of our operations, and any failure to maintain effective internal control over financial reporting could adversely affect our business.
  • Our stock price may be volatile, and investors may lose all or part of their investment.
  • Risks Related to Intellectual Property, Personnel, and Operations
  • We depend on key personnel, and the loss of key personnel could harm our business.
  • Risks Related to Litigation
  • We may be subject to litigation, regulatory proceedings, and other legal actions, which could result in significant costs and adversely affect our business.

Legal proceedings

From time to time, we may be party to certain legal proceedings that arise in the ordinary course and are incidental to our business. As of the filing date of this report, to our knowledge, there are no material, active or pending legal proceedings against us.

The opening of Item 3, Legal Proceedings.4

Sources

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    SEC EDGAROther events
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