Earnings Releases·Nov 12, 2026, 8:01 AM ET

BTCS — Q3 2026 Earnings Summary

Total revenues surged 67% quarter-over-quarter to $4.1 million, driven by a 133% QoQ increase in DeFi (Imperium) revenues to $3.5 million, which now comprises 86% of total revenue; gross profit reached a record $3.5 million with an 86% margin.
Net income for Q3 2026 was $54.5 million, a significant turnaround from a $34.9 million loss in Q2 2026, though results included $58.3 million in non-cash unrealized gains on digital assets and a $5.7 million impairment loss.
Management expects Imperium to remain the primary revenue driver for the remainder of 2026, having already surpassed the full-year gross profit target of $6.0 million, while deprioritizing Blockchain infrastructure revenues in favor of scaling DeFi operations.
Strategic expansion includes integrating the Base Layer-2 network and completing preparatory compliance steps for tokenized-equity liquidity provisioning under the SEC's Covered Firm exemption, alongside a 133% growth in digital assets held in liquidity pools to $40.9 million.
The company raised approximately $1.5 million via its At-The-Market (ATM) agreement during the quarter, while total liabilities increased to $80.0 million, largely due to loans payable to DeFi protocols rising to $63.0 million.