Bitcoin Treasury earns $1.58-million in Q3

Executive Summary

• Bitcoin Treasury Corp. reported its financial results for the three and nine months ended September 30, 2025, alongside the receipt of its final base shelf prospectus.
• The company achieved a net income of $1,586,411 for Q3 2025, driven significantly by an $8.5 million fair-value gain on its Bitcoin holdings and a $3.5 million unrealized gain on convertible debentures.
• Strategic milestones include listing on the OTCQX under ticker BTCFF, obtaining FINTRAC registration as a money services business, and entering a consulting agreement to accelerate its institutional bitcoin lending business.

Key Details

• Financing/Prospectus: Received receipt for final base shelf prospectus in all Canadian provinces/territories.
  • Allows raising up to $300 million over a 25-month period.
  • Instruments include common shares, preferred shares, debt securities, subscription receipts, warrants, or combinations.
• Q3 2025 Financial Performance (Three Months Ended Sept. 30, 2025):
  • Net Income: $1,586,411.
  • Comprehensive Income: $10,253,456.
  • Bitcoin Gain: Net gain of $8,468,971 on revaluation of digital currency and digital currency held as collateral.
  • Debenture Gain: $3,507,209 unrealized gain on change in fair value of convertible debentures.
  • Professional Fees: Total $611,691, broken down as:
    • Legal fees: $484,735 (related to lending business development and MSB license application).
    • Audit-related fees: $97,446.
    • Accounting fees: $29,510.
  • Other Expenses: $112,768 in filing fees (OTCQX listing and TSX Venture Exchange listing fee) and $83,555 in marketing-related expenses.
• Strategic Milestones:
  • Sept. 18, 2025: Listed on OTCQX under ticker symbol BTCFF.
  • Oct. 10, 2025: Received FINTRAC registration as a money services business (MSB).
  • Oct. 10, 2025: Entered into a consulting agreement with FRNT Financial Inc. to accelerate the buildout of its institutional bitcoin lending business.

Notable Quotes

• "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
• "We've set a strategy of building an institutional quality bitcoin services business and an external capital formation engine. Our team has recently achieved several milestones to advance this strategy and the third quarter also demonstrated our leverage to bitcoin through an $8.5-million fair-value gain on our BTC holdings. We are working diligently to build a business for the long-term and we continue to have conviction that BTCT can provide value to investors that want to own more bitcoin." — Elliot Johnson, CEO