# BTCS Posts $54.5 Million Q3 Profit as Ether Holdings Fall to 49,571

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/55656
Published: 2026-11-12T16:49:12.000Z
Updated: 2026-11-12T16:49:12.000Z
Section: Business

> The quarter included $58.35 million in unrealized digital-asset gains. Revenue fell 17% from a year earlier, and Ether holdings were valued at $133.1 million at quarter-end.

BTCS posted $54.5 million in third-quarter net income, including $58.35 million in unrealized gains on digital assets, while revenue slid 17% year over year as its Ether position shrank from its 2025 year-end level.

The company held 49,571 Ether (ETH) on Sept. 30, compared with 70,787 at the end of 2025. That Ether balance was valued at $133.1 million. About 2,880 ETH were staked, and 46,607 ETH were deployed in DeFi protocols. Separately, most of BTCS’s digital assets were held as collateral in Aave.

Revenue totaled $4.1 million, compared with $4.9 million in the same quarter a year earlier. DeFi revenue rose to $3.5 million from about $720,000. Blockchain infrastructure revenue fell to about $590,000 from $4.2 million.

BTCS had approximately $40.95 million in liquidity-pool positions at quarter-end. For the first nine months of 2026, the company recorded a net loss of $49.5 million.

At Sept. 30, DeFi protocol loans stood at $63 million and convertible notes at $14.5 million. Cash and cash equivalents totaled about $460,000, while stablecoins totaled about $860,000.