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BTCS Inc

For the period ended Mar 31, 2025. Filed May 15, 2025.

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About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2025 · Filed May 15, 2025

BTCS$0.93+6.6%Stored close · as of Nov 6, 2026
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31,2025

or

☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ________________ to____________.

Commission file number:001-40792

BTCS Inc.

(Exact name of registrant as specified in its charter)

Nevada90-1096644
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)
9466 Georgia Avenue #124, Silver Spring, MD20910
(Address of principal executive offices)(Zip Code)

Registrant’s telephone number, including area code(202) 430-6576

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $0.001BTCSThe Nasdaq Stock Market
(The Nasdaq Capital Market)

Indicate by check mark whether the registrant (1) filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐Accelerated filer ☐
Non-accelerated filer ☒Smaller reporting company ☒
Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No☒

As of May 13, 2025, there were 21,095,390 shares of Common Stock, par value $0.001, issued and outstanding.

BTCS INC.

TABLE OF CONTENTS

Page
PART I - FINANCIAL INFORMATION
ITEM 1Financial Statements4
Condensed Consolidated Balance Sheets as of March 31, 2025 (unaudited) and December 31, 20244
Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2025 and 2024 (unaudited)5
Condensed Consolidated Statements of Changes in Stockholders’ Equity for the Three Months Ended March 31, 2025 and 2024 (unaudited)6
Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2025 and 2024 (unaudited)7
Notes to the Unaudited Condensed Consolidated Financial Statements8-24
ITEM 2Management’s Discussion and Analysis of Financial Condition and Results of Operations25
ITEM 3Quantitative and Qualitative Disclosures About Market Risk37
ITEM 4Controls and Procedures37
PART II - OTHER INFORMATION
ITEM 1Legal Proceedings38
ITEM 1ARisk Factors38
ITEM 2Unregistered Sales of Equity Securities and Use of Proceeds38
ITEM 3Defaults Upon Senior Securities38
ITEM 4Mine Safety Disclosures38
ITEM 5Other Information38
ITEM 6Exhibits38
Signature39

BTCS INC.

As used in this Quarterly Report on Form 10-Q, the terms “we,” “us,” “our,” the “Company,” the “Registrant,” and “BTCS Inc.,” mean BTCS Inc., unless otherwise indicated.

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