BTC Holdings
43,515 BTC
Insufficient history
Stock Price
$6.67
180d
Total financing
486.50M USD
180d
mNAV
0.82x
180d
Leverage
11.9%
180d
BTC Credit
1 bps8.4x
Sats/Share
11,403
180d
Mkt capFD
2.55B USD
SharesFD
381.60M
Fiat reserve
117.70M USD
Total reserve
3.21B USD
Dilution
10.1%
Coverage
636.1 yr
Analytics
BTC Coverage
Financials
US-GAAPAnnualAs of 2025-12-31
Balance Sheet
Total Assets$3.9B
Total Liabilities$486.8M▲6276437.8%
Stockholders' Equity$3.4B▲44353739.4%
Cash & Equivalents$117.7M
Total Debt$484.3M
Digital Assets$3.8B
Income Statement
Revenue$0
Operating Income$-14.6M▼187589.6%
Net Income$-217.3M▼2802108.8%
Interest Expense$347.5K
Cash Flow
Operating Cash Flow$-2.4M
Instruments
| Instrument | Term | Coupon | Principal | Outstanding | Conv. price | BTC Rating |
|---|---|---|---|---|---|---|
| XXI-Dec30 | Dec '25 – Dec '30 | 1% | 486.50M USD | 486.50M USD | 13.88 USD | 8.4x |
| Total | 486.50M USD | |||||
Top Shareholders
| Holder | % Ownership | Shares | As of | Source |
|---|---|---|---|---|
| Tether Investments, S.A. de C.V. | — | — | 2025-12-08 | S-1/A (Amendment No. 1) |
| iFinex, Inc. | — | — | 2025-12-08 | S-1/A (Amendment No. 1) |
| SoftBank Group Corp. | — | — | 2025-12-08 | S-1/A (Amendment No. 1) |
- S-1/A (Amendment No. 1)Tether Investments, S.A. de C.V.2025-12-08
- S-1/A (Amendment No. 1)iFinex, Inc.2025-12-08
- S-1/A (Amendment No. 1)SoftBank Group Corp.2025-12-08
Recent Changes
Fri, Feb 6, 2026
Shares Outstanding
346.5M
Class A Common Stock outstanding
S-1/A (Amendment No. 1)Wed, Dec 31, 2025
BTC Holdings
43.5K→43.5K+1 BTC(+0.0%)
Form 10-K (2025)
Fiat Reserve
808.2K→117.7M+116.9M(+14463.0%)USD
Form 10-K (2025)
Mon, Dec 8, 2025
Debt OutstandingXXI-Dec30
486.5M
S-1/A (Amendment No. 1)