BTC Digital Ltd. filed its Form 20-F annual report on May 11, 2026, for the fiscal year ending December 31, 2025.
The company reported a net loss of $8.9 million, a more than fourfold increase from the $2.0 million loss in 2024.
Cryptocurrency business revenue rose to $14.0 million, up from $11.7 million in the previous year.
The filing cited volatile bitcoin mining economics and high hardware costs as primary drivers for the widening deficit.
Management also identified significant risks related to regulatory uncertainties within the digital asset sector.