BTCS公司2025年季度报告

or For the transition period from ________________ to____________. Commission file number:001-40792 BTCS Inc. (Exact name of registrant as specified in its charter) (State or other jurisdictionof incorporation or organization) 9466 Georgia Avenue #124,Silver Spring,MD Registrant’s telephone number, including area code(202)430-6576 Sale of productive crypto assetsPurchase of investments Purchase of property and equipment(1,695)Sale of property and equipment1,750Net cash provided by (used in) investing activities(34,387) Net proceeds from issuance common stock/ At-the-market offering228,955Net cash provided by financing activities228,955Net (decrease)/increase in cash(1,707,849) Supplemental disclosure of non-cash financing and investing activities:Series V Preferred Stock Distribution$180,688$ 7 company focused on blockchain infrastructure. The Company’s primary operations center on the Ethereum network, reflecting itsstrategic emphasis on Ethereum block-building (“Builder+”) and validator node operations (“NodeOps”) across various proof-of-stake(“PoS”) and delegated proof-of-stake (“dPoS”) networks.BTCS operates non-custodial validator nodes (or “nodes”) that participate in blockchain network consensus by performingtransaction validation (“attestation”) and block proposal services. The Company earns native token rewards by staking its PoS crypto leverages advanced algorithms to optimize the construction of Ethereum blocks for on-chain validation, focusing on maximizing gasfee revenue. Builder+ has become a central revenue driver for BTCS, positioning the Company as an integral participant in Ethereum’s transaction cycle.In addition to its blockchain infrastructure operations, BTCS has developed ChainQ, an AI-powered blockchain data and as the Company’s ability to scale its Ethereum block-building operations and expand its broader blockchain infrastructure operations. Note 2 -Basis of PresentationBasis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accountingprinciples generally accepted in the United States (“GAAP”) for interim financial information, the instructions to Form 10-Q and the rules and regulations of the SEC. Accordingly, since they are interim statements, the accompanying unaudited condensed consolidatedfinancial statements do not include all of the information and notes required by GAAP for annual financial statements, but in theopinion of the Company’s management, reflect all adjustments consisting of normal, recurring adjustments, that are necessary for afair presentation of the financial position, results of operations and cash flows for the interim periods presented. Interim results for thethree months ended March 31, 2025 are not necessarily indicative of results for the full year ending December 31, 2025. The unauditedcondensed consolidated financial statements and notes should be read in conjunction with the consolidated financial statements and notes for the year ended December 31, 2024.Reclassifications condensed consolidated financial statements and accompanying notes. The reclassifications did not have a material impact on theCompany’s unaudited condensed consolidated financial statements and related disclosures. The impact on any prior period disclosures was immaterial.8 Cash and Cash EquivalentsThe Company considers all highly liquid investments with original maturities of three months or less when purchased to be Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash deposits.Accounts at each institution are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000. As of March 31, 2025 StablecoinsThe Company holds stablecoins, such as USDT (Tether) and USDC (USD Coin), which are crypto assets that are pegged to the value of one U.S. dollar. Our stablecoins are typically held in secure digital wallets or on crypto asset exchanges. The Companyacquires and holds stablecoins primarily to facilitate crypto asset transactions, including, but not limited to, payments to third-partyvendors. While not accounted for as cash or cash equivalents, these stablecoins are considered a liquidity resource. Fair Value Measurement advantageous market. Kraken serves as the principal market for the Company’s crypto assets, being the Company’s primary cryptocurrencyexchange for both purchases and sales. Coinbase is designated as the secondary principal market. This determination results from a comprehensive evaluation considering various factors, including compliance, trading activity, and price stability.The fair value of crypto assets is primarily determined based on pricing data obtained from Kraken, the Company’s principalmarket. In the absence of Kraken data, pricing from Coinbase serves as a secondary source.While Kraken is designated as the primary exchange, the Company retains flexibility to conduct crypto