NASDAQ$BTCS
BTCS Inc · Q1 2026 earnings
Q1 2026 earnings ·
Briefing
BTCS Inc reported a net loss of $69.2 million for the first quarter of 2026 driven by unrealized digital asset losses.
BTCS Inc recorded total revenues of $2.1 million in Q1 2026, including $1.0 million from DeFi operations. The company reported a net loss of $69.2 million primarily due to $35.7 million in unrealized losses and $29.3 million in realized losses on digital assets. Total assets stood at $129.0 million with 49.8 million common shares outstanding at period end.
- Total revenues increased 27% year-over-year to $2.1 million with DeFi contributing 47% of revenue.
- Net loss widened to $69.2 million due to significant unrealized and realized losses on Ethereum holdings.
- Ethereum holdings totaled 55,064 tokens with a fair value of $115.9 million at quarter end.
- Operating cash used was $1.7 million while DeFi borrowings were reduced by $17.7 million.
Headline financials
Revenue & EPS history
BTCS Inc · Revenue · Quarterly
$2.15M
Revenue by segment
BTCS Inc · $2.15M total across 3 segments · Q1 2026
- Imperium$1.01M—47.1%
- Builder+$1M—46.8%
- NodeOps$131K—6.1%
Forward guidance
Management expects continued expansion of Imperium DeFi activities to drive scalable revenue while dynamically allocating assets across validator operations and block building based on market conditions.
Tailwinds
- DeFi revenues now represent nearly half of total revenue with low direct costs.
- Gross margins improved significantly due to higher-margin DeFi contribution.
Headwinds
- Digital asset price volatility continues to drive large unrealized losses.
- DeFi borrowing exposes the company to collateral liquidation risk.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2026
+3.8%
Avg return
Earnings day
+12.6%
Avg return
5 days after
+1.9%
Avg return
30 days after
45%
10 / 22 earnings
Positive
+44.8%
Q3 2024
Best reaction
-15.0%
Q1 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.4% | -20.3% | — | |
| Q4 2025 | -3.3% | +0.6% | -13.3% | |
| Q3 2025 | +3.7% | +3.7% | +20.1% | |
| Q2 2025 | -4.4% | +7.0% | +5.3% | |
| Q1 2025 | +5.5% | +18.6% | +9.0% | |
| Q3 2024 | +44.8% | +13.2% | +13.9% | |
| Q2 2024 | +2.3% | +0.8% | -14.0% | |
| Q1 2024 | -0.7% | -1.3% | -3.3% | |
| Q3 2023 | +4.2% | +3.4% | +77.8% | |
| Q2 2023 | +0.0% | +0.0% | -3.8% | |
| Q1 2023 | -3.6% | -6.5% | -15.9% | |
| Q3 2022 | +0.0% | +7.1% | -16.1% | |
| Q2 2022 | -2.7% | +5.4% | -10.9% | |
| Q1 2022 | +16.5% | +41.7% | +12.6% | |
| Q3 2021 | +8.9% | +3.5% | -29.8% | |
| Q2 2021 | +6.7% | +27.5% | +50.1% | |
| Q1 2021 | -15.0% | +15.2% | +0.0% | |
| Q3 2017 | -13.5% | -7.3% | +4.2% | |
| Q2 2017 | -7.2% | -12.5% | -41.4% | |
| Q1 2017 | +38.8% | +176.7% | -4.9% | |
| Q3 2016 | +0.0% | +0.0% | +0.0% | |
| Q2 2016 | +0.0% | +0.0% | +0.0% | |
| Q1 2016 | — | — | — | |
| Q1 2015 | — | — | — | |
| Q3 2014 | — | — | — | |
| Q3 2012 | — | — | — |
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