Bitcoin Treasury Corporation Provides Update on Normal Course Issuer Bid

Executive Summary

• Bitcoin Treasury Corp. commenced its previously disclosed NCIB on Jan 5, 2026 and has repurchased/retired 47,200 common shares through Jan 31, 2026 at an average price of $5.79 per share.
• The buy‑back increased the company’s Bitcoin‑per‑Share (BPS) metric year‑to‑date by 0.088% to a BPS of 0.00006350.1.
• Total Bitcoin holdings fell to 769.05 BTC as shares were retired, while the NCIB remains authorized for up to 989,228 shares (~10% of public float).

Key Details

• NCIB Commencement: Jan 5, 2026 (as previously disclosed).
• Shares Repurchased/Retired: 47,200 common shares as of Jan 31, 2026.
• Average Purchase Price: $5.79 per share.
• BPS Impact: Year‑to‑date BPS growth of 0.088%, resulting in a BPS of 0.00006350.1.
• Outstanding Shares (Jan 31, 2026): 10,027,880 common shares; 12,111,213 diluted common shares (includes convertible debentures, excludes performance warrants).
• Bitcoin Holdings: Decreased to 769.05 BTC (principal amount of Bitcoin loaned excluded, accrued interest excluded).
• NCIB Capacity: Authorized to repurchase/cancel up to 989,228 common shares, representing ~10% of the public float as defined by the TSXV.
• Strategic Rationale: Management will deploy the NCIB when share price is deemed below net asset value; proceeds from operating activities (including Bitcoin lending and risk‑management programs) are expected to fund further repurchases.

Notable Quotes

“We are thrilled to be making progress towards our North Star, increasing Bitcoin per share. When BTCT's share price trades at a significant discount to net asset value, we are buyers of the stock. We will continue to be opportunistic increasing BPS as market conditions permit.” – Elliot Johnson, CEO, Bitcoin Treasury Corp.