BTCS Inc. Reports 394% Revenue Growth to $2.77 Million in Latest Quarter

BTCS Inc. reported significant financial developments in its latest 10-Q filing for the quarter ending June 30, 2025. The company generated total revenues of approximately $2.77 million, a substantial increase of 394% compared to $561,192 in the same quarter of the previous year. This growth was primarily driven by the expansion of its Builder+ operations, which focuses on block-building activities across Ethereum and Binance Smart Chain (BSC). Builder+ contributed approximately $2.51 million to total revenue, while NodeOps, which involves staking operations, accounted for about $263,000.

Despite the revenue increase, BTCS experienced a gross loss of $80,935 for the quarter, a decline from a gross profit of $392,344 in the prior year. The rise in costs associated with blockchain infrastructure operations, particularly Validator Payments, which totaled approximately $2.81 million, contributed to this loss. Operating expenses also surged to $4.45 million, up from $1.32 million in the previous year, reflecting increased investments in general and administrative functions, research and development, and marketing.

In terms of strategic developments, BTCS has streamlined its operations by winding down its validator node activities on several non-Ethereum platforms, including Avalanche and Cosmos, to focus on Ethereum-centric revenue generation. The company has also expanded its Builder+ initiative to include block-building on BSC, which has begun to yield additional revenue. As of June 30, 2025, BTCS reported a total of 21,968,566 shares of common stock outstanding, with a market capitalization that reflects its ongoing strategic focus on Ethereum.

Operationally, BTCS's crypto asset holdings have increased significantly, with Ethereum holdings rising to 14,659 ETH valued at approximately $36.44 million as of June 30, 2025. The company also reported a total of $40.81 million in assets, up from $38.25 million at the end of 2024. However, the company continues to face challenges, including an accumulated deficit of $153.34 million and net cash used in operating activities of approximately $3.24 million for the reporting period.

Looking ahead, BTCS remains focused on leveraging its DeFi/TradFi Flywheel strategy to enhance capital efficiency and grow its Ethereum treasury. The company plans to continue utilizing decentralized finance mechanisms, including borrowing through Aave, and executing At-The-Market equity offerings to support its operational and strategic objectives. Despite the volatility in crypto markets, BTCS's management believes that its current cash position and liquid crypto assets will be sufficient to support operations over the next twelve months.