WAYNE, PA — BTCS Inc. (Nasdaq: BTCS) reported the strongest quarter in its history, delivering explosive revenue growth and transformative gains tied to its Ethereum-first strategy. The company’s third-quarter results for 2025 showed surging performance across all core business lines, bolstered by aggressive expansion of its ETH holdings, the launch of a new DeFi platform, and a capital strategy designed to amplify long-term shareholder value.
BTCS posted $4.94 million in Q3 revenue, a 568 percent year-over-year increase and a 78 percent jump from the prior quarter. Revenue for the first nine months reached $9.40 million, already more than double full-year 2024 levels. Growth was driven primarily by Builder+, the company’s block-building platform, which generated $3.36 million in revenue — up 730 percent compared to last year. Gross margins rose to 22 percent, reflecting scaling efficiencies and early contributions from new decentralized finance operations.
The earnings impact was staggering. BTCS reported net income of $65.59 million in the third quarter, a 1,590 percent increase from Q2, fueled largely by $73.72 million in unrealized gains as Ethereum surged to near-record highs. For the nine-month period, net income reached $52.20 million, making 2025 the company’s most profitable year-to-date.
CEO Charles Allen said the quarter marked a defining moment for the company. “We raised more than $200 million, launched a share repurchase program, and significantly expanded our treasury holdings while maintaining a disciplined focus on shareholder value,” Allen said. He added that the company’s growing ETH-per-share metric demonstrates the strength of its capital-efficient model and integrated operations.
BTCS’s balance sheet transformed dramatically. Total assets climbed to $298.86 million — a 632 percent increase — driven by aggressive ETH accumulation. The company now holds 70,322 ETH valued at $291.58 million as of September 30, a 380 percent increase from the prior quarter. Total liabilities rose to $73.45 million, primarily from ETH-backed borrowing and convertible notes used strategically to accelerate growth.
CFO Michael Prevoznik pointed to the company’s blended financing strategy as a key driver of the quarter. BTCS combined traditional tools — including its at-the-market offering and convertible notes — with decentralized borrowing through Aave, becoming the first public company to integrate the protocol directly into its operations. Prevoznik said the approach provides scalable liquidity while preserving capital efficiency and shareholder alignment.
Operationally, BTCS expanded its footprint with the launch of Imperium, a new DeFi business unit that deploys tokens into smart contract–based protocols for on-chain rewards. Imperium contributed 15 percent of quarterly revenue in its first full quarter and complements the company’s two existing platforms: Builder+ and NodeOps. Builder+ accounted for 68 percent of total revenue, while NodeOps contributed 17 percent.
The company deepened participation across the Ethereum ecosystem, integrating platforms such as ETHGas and NuConstruct, and strengthening partnerships with Figment, WonderFi, Angstrom, and MetaMask. BTCS also became the first public company to issue shareholder rewards directly in Ethereum, including a blockchain-based dividend and loyalty incentive. Since launching these programs, short interest has declined sharply — a change BTCS attributes to tighter float control and increased investor confidence.
BTCS also authorized a $50 million share repurchase program, buying back roughly $4 million in stock at an average price of $4.50 per share — a move intended to counteract short-selling pressures and enhance long-term value.
With Ethereum’s price volatility creating substantial valuation gains and the company rapidly scaling revenue across its three business units, BTCS executives say they are entering the final stretch of 2025 with unprecedented momentum. Management believes the company’s integrated approach across DeFi, Ethereum infrastructure, and capital markets positions BTCS as an emerging leader in the on-chain economy — and sets the stage for continued expansion into 2026.
For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News and MSN.