BTC Holdings
8,883 BTC
180d
Stock Price
$62.20
180d
Total financing
7.35B USD
180d
mNAV
59.74x
180d
Leverage
42.7%
180d
BTC Credit
5 bps2.3x
Sats/Share
1,473
180d
Mkt capFD
37.50B USD
SharesFD
602.94M
Fiat reserve
7.08B USD
Total reserve
7.71B USD
Dilution
0.6%
Coverage
2.0 yr
BTC mix
0%
Analytics
BTC Coverage
Financials
US-GAAPAnnualAs of 2025-12-31
Balance Sheet
Total Assets$39.5B▲7.5%
Total Liabilities$17.4B▲11.8%
Stockholders' Equity$22.2B▲4.4%
Cash & Equivalents$6.6B▼18.7%
Total Debt—
Digital Assets$777.5M▼1.9%
Income Statement
Revenue$24.2B▲0.3%
Operating Income$1.7B▲91.5%
Net Income$1.3B▼54.9%
Interest Expense$256.4M▲54.9%
Cash Flow
Operating Cash Flow$2.6B▲51.1%
Instruments
| Instrument | Term | Coupon | Principal | Outstanding | Conv. price | BTC Rating |
|---|---|---|---|---|---|---|
| XYZ-May26 | Nov '20 – May '26 | 0% | 575.00M USD | 575.00M USD | 299.13 USD | >10x |
| XYZ-Nov27 | Nov '20 – Nov '27 | 0.25% | 575.00M USD | 575.00M USD | 299.13 USD | >10x |
| Total | 1.15B USD | |||||
Disclaimer
Block's debt was not explicitly issued for the purpose of purchasing Bitcoin.
Recent Changes
Wed, Jan 14, 2026
Debt OutstandingIssuanceXYZ-Rev31
0
No borrowings or letters of credit outstanding at establishment
Form 8-K (amended revolving credit facility)Wed, Dec 31, 2025
BTC Holdings
8.8K→8.9K+103 BTC(+1.2%)
Form 10-K (FY 2025)
Shares Outstanding
607.7M→599.1M-8.6M(-1.4%)
Form 10-K (FY 2025)
Fiat Reserve
8.61B→7.08B-1.53B(-17.7%)USD
Form 10-K (FY 2025)
Thu, Nov 6, 2025
BTC Holdings
8.7K→8.8K+88 BTC(+1.0%)
Block BTC Treasury Tracker