BTC Digital Ltd. is classed by the SEC under Finance Services (industry code 6199), based in Shenzhen. In its latest annual figures on file, for the fiscal year ended 2025-12-31, it reported revenue of $14 million and a loss of $9 million (its filed statements).
Lending businessFinance ServicesShenzhenfilings since 20198 of 9 filed, 1 estimated
Three tenses, nine metrics. Unseen metrics stay unseen; the grade never fakes a number. Proxy era: provisional values, marked. Weighed as a lending business: prior from its industry code (SEC 6199, Finance Services); the filing read can change it. All three tenses have at least two readings, so the archetype blend applies as printed.
The grade, in three tenses
Headline 3.9 out of ten, 8 of 9 metrics filed and 1 estimated: past 3.6 out of ten, present 4.4 out of ten, future 3.7 out of ten. The past asks what it actually did, the present what it is doing right now, the future what it is set up to do next.
The nine metrics
Surviving crises (past): 5.6 out of ten. 3 warning events since 2019; the latest 2026-04-30. 56th percentile among 130 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
Track record (past): 2.1 out of ten. -36.6% a year over 6 filed years; profitable in 1 of 6. 21st percentile among 104 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
Shareholder treatment (past): 1.9 out of ten. Share count grew 129.2% a year. 0% of cash flow returned. Insiders: 0 sales, 0 purchases. 18th percentile among 54 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
Financial health (present): 4.0 out of ten. ROE -24%: lost 24¢ per shareholder dollar. Leverage 7%: owes 7¢ per asset dollar. 40th percentile among 117 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
Industry position (present): 4.2 out of ten. bottom 42% of 114 in its family; net margin -64.5%. 42nd percentile among 114 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
Leadership (present): 5.4 out of ten. CrossAssetData estimate 5.4/10, confidence 20 of 100 (family median). 50th percentile among 74 sector filers. A CrossAssetData estimate, not a filed reading: family median, confidence 20 of 100; its next annual report on file with the inputs replaces this estimate with the filed reading.
Room to expand (future): 2.2 out of ten. bottom 22% of 108 in its family for room to expand. 22nd percentile among 108 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
Growth drivers (future): 5.5 out of ten. top 45% of 100 in its family for growth drivers. 55th percentile among 100 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
Expectations vs reality (future): 3.5 out of ten. bottom 36% of 79 in its family for expectations against reality. 36th percentile among 79 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
The filing record
Newest annual report: Form 20-F filed 2026-05-11 for the period ended 2025-12-31 (on EDGAR). Newest quarterly report: Form 10-Q filed 2024-11-14 for the period ended 2024-09-30 (on EDGAR). Newest filing: Form 424B3, 2026-09-18. Filings on record since 2019. Read from EDGAR 2026-10-12.
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