BTCS Reports Record Q3 as Ethereum Strategy Lifts Revenue and Profit
The profit surge reflects fair-value gains on a rapidly expanded Ethereum treasury, highlighting BTCS’s sensitivity to ETH price swings.
Overview
- Revenue reached $4.94 million, up 568% year over year and 78% quarter over quarter, with gross margin improving to 22% on higher transaction volumes and Builder+ efficiencies.
- Net income rose to $65.59 million, driven mainly by gains in the fair value of crypto assets.
- ETH holdings increased to 70,322 tokens valued at $291.58 million, and total assets climbed to $298.86 million.
- BTCS launched the Imperium unit and integrated Aave into its operations, becoming the first publicly listed firm to do so.
- The company raised more than $200 million, initiated a share repurchase program, and used ETH-backed borrowing and convertible notes to support liquidity and growth.