BTC Holdings
21,430 BTC
180d
Stock PriceUpdated 11h ago
$34.91▼ 2.54%
180d
Total financing
488.07M USD
180d
mNAV
3.33x▼ 2.42%
180d
Leverage
26.2%
180d
BTC Risk
0.96%3.8x
Sats/Share
14,258
180d
Mkt cap
5.25B USD
Shares
150.30M
Fiat reserve
76.05M USD
Total reserve
1.65B USD
Dilution
0.0%
Coverage
46.2 yr
BTC mix
0%
Analytics
BTC Coverage
FinancialsUnverified
IFRSQuarterlyAs of 2026-03-31
Balance Sheet
Total Assets$3.3B
Total Liabilities$620.8M
Stockholders' Equity$2.7B
Cash & Equivalents$76.1M
Total Debt$488.1M
Digital Assets$2.3B
Income Statement
Revenue$51.8B
Operating Income—
Net Income$-604.9M
Interest Expense$13.8M
Cash Flow
Operating Cash Flow$90.9M
Instruments
| Instrument | Term | Coupon | Principal | Outstanding | BTC Rating |
|---|---|---|---|---|---|
| BLSH-BO | Jan '23 – … | 7% | 496.70M USD | 482.85M USD | 3.8x |
| BLSH-XRP | Sep '23 – Sep '27 | 5.5% | — | 5.22M USD | >10x |
| Total | 488.07M USD | ||||
Recent Changes
Tue, Mar 31, 2026
BTC Holdings
21.2K→21.4K+190 BTC(+0.9%)
19,830 direct holdings (incl. 11,748 cbBTC + 201.3 wBTC wrappers) + 1,590 credit-line lending + 10 margin lending + 0 pledged
Form 6-K (Q1 2026 results)Debt Outstandingperiod_endBLSH-BO
505.6M→482.9M-22.8M(-4.5%)
Form 6-K (Q1 2026 results)
Debt OutstandingRepaymentBLSH-Repo26
50.0M→0-50.0M(-100.0%)
Form 6-K (Q1 2026 results)
Debt Outstandingperiod_endBLSH-XRP
5.6M→5.2M-382.0K(-6.8%)
Form 6-K (Q1 2026 results)
Fiat Reserve
87.9M→76.1M-11.8M(-13.5%)USD
Form 6-K (Q1 2026 results)
Sat, Feb 28, 2026
Shares Outstanding
150.8M→150.3M-531.7K(-0.4%)
Form 20-F (2025)
Wed, Dec 31, 2025
BTC Holdings
24.3K→21.2K-3,060 BTC(-12.6%)
18,030 held (inventories + intangibles + financial assets) + 3,210 in loan receivables
Form 20-F (2025)Shares Outstanding
150.7M→150.8M+149.9K(+0.1%)
Form 20-F (2025)
Debt OutstandingDrawBLSH-BO
482.4M→505.6M+23.1M(+4.8%)
Fair value at FVTPL
Form 20-F (2025)Debt OutstandingDrawBLSH-Repo26
50.0M→50.0M-18.0K(-0.0%)
Carrying value at amortized cost
Form 20-F (2025)Debt OutstandingRepaymentBLSH-XRP
20.6M→5.6M-15.0M(-72.8%)
Non-current $5,267K + current $334K
Form 20-F (2025)Fiat Reserve
69.3M→87.9M+18.6M(+26.8%)USD
Form 20-F (2025)