Bitcoin Treasury Corporation Announces Receipt for Final Base Shelf Prospectus and Reports Q3 2025 Financial Results

Executive Summary

• Received final Base Shelf Prospectus authorizing up to $300 million of capital raises over the next 25 months.
• Reported Q3 2025 results showing a net income of $1.59 M and total comprehensive income of $10.25 M, driven by an $8.47 M unrealized gain on Bitcoin revaluation.
• Announced key milestones: OTCQX listing (BTCFF), FINTRAC registration as a Money Services Business, and consulting agreement with FRNT Financial to accelerate institutional Bitcoin lending.

Key Details

• Shelf Prospectus: Provides flexibility to issue common/preferred shares, debt securities, subscription receipts, warrants, or combinations thereof up to $300 M within 25 months.
• Q3 2025 Financial Highlights (Three months ended Sep 30, 2025):
• Total assets: $124,745,142 (up from $117,278,517 YoY).
• Revenue: $0.
• Operating expenses: $(1,352,397).
• Net income: $1,586,411.
• Comprehensive net income: $10,253,456.
• Basic & fully diluted net income per share: $0.16.
• Bitcoin holdings: 771.37 BTC (≈ $48.5 M at period end).
• Adjusted diluted shares outstanding: 12,158,413.
• Unrealized Gains:
• $3,507,209 gain on convertible debentures fair‑value change.
• $8,468,971 gain from revaluation of digital currency and collateral Bitcoin.
• Professional Fees (Q3 2025): $611,691 total – includes $484,735 legal fees for lending business development & MSB license application, $97,446 audit fees, $29,510 accounting fees.
• Other Expenses: $112,768 filing/listing fees; $83,555 marketing expenses.
• Milestones:
• Sep 18 2025: Listed on OTCQX under ticker BTCFF to broaden U.S. investor access.
• Oct 10 2025: Received FINTRAC registration as a Money Services Business (MSB).
• Oct 10 2025: Entered consulting agreement with FRNT Financial Inc. (TSXV: FRNT) to accelerate institutional Bitcoin lending platform build‑out.

Notable Quotes

• Elliot Johnson, CEO: “This milestone is another proof point that our team is executing on our plan and we now have more tools to increase Bitcoin per share (“BPS”). Accessing capital markets is core to our long‑term goal of maximizing BPS and accumulating more Bitcoin for our shareholders.”
• Elliot Johnson, CEO (Q3 commentary): “We’ve set a strategy of building an institutional quality Bitcoin Services Business and an external capital formation engine… the third quarter also demonstrated our leverage to Bitcoin through an $8.5 M fair‑value gain on our BTC holdings.”