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Business Organization and Nature of Operations | 9 Months Ended
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Sep. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Business Organization and Nature of Operations | Note 1 - Business Organization and Nature of Operations BTCS Inc. (“BTCS” or the “Company”), short for Blockchain Technology Consensus Solutions, is a Nevada corporation listed on Nasdaq and headquartered in the United States. The Company is an Ethereum-first blockchain technology business focused on scalable revenue generation and ETH (the Ethereum network’s native token) accumulation through its blockchain-based infrastructure and decentralized finance (“DeFi”) operations. BTCS’s operations comprise three primary business lines:
| 1. | Validator Node Operations (“NodeOps”) – BTCS operates Ethereum validator nodes (“nodes”) and earns ETH-denominated staking rewards for performing validation and consensus activities that secure the network.
| 2. | Block Building (“Builder+”) – Through its Builder+ operations, the Company participates in the block-building supply chain on the Ethereum and Binance Smart Chain (“BSC”) networks by operating block builders that construct and submit optimized transaction blocks to validators. Revenues are derived by execution layer rewards, including transaction fees and maximal extractable value (“MEV”) earned from successful block submissions.
| 3. | DeFi Operations (“Imperium”) – Beginning in 2025, BTCS expanded its blockchain operations to include DeFi activities under its Imperium business line. Through Imperium, the Company participates directly in DeFi ecosystems by deploying crypto assets, including ETH and stablecoins, into smart contract-based protocols that facilitate decentralized lending, liquidity provision, and other on-chain services. The Company earns variable crypto asset rewards based on its participation and the utilization of its deployed assets within these protocols.
Together, these business lines, which may be vertically integrated, represent complementary components of the Company’s broader blockchain strategy, designed to generate recurring on-chain revenues, enhance operational scalability, and increase ETH holdings and long-term treasury value. While each operation has distinct economic drivers and technology components, NodeOps and Builder+ collectively comprise the Company’s blockchain infrastructure activities, whereas Imperium represents distinct DeFi operations within the Company’s overall blockchain ecosystem. Revenues from NodeOps and Builder+ are aggregated and presented as Blockchain infrastructure revenues, while revenues from Imperium are presented separately as DeFi revenues in the statements of operations. Segment results for these business lines, and their reconciliation to the financial-statement line items presented on the face of the statements of operations, are disclosed in Note 12 – Segment Reporting. BTCS’s operations are strategically supported by its DeFi/TradFi Flywheel, a capital formation and reinvestment framework that integrates decentralized finance (e.g., on-chain borrowing) with traditional capital markets (e.g., at-the-market (“ATM”) equity offerings and structured convertible notes). This framework is designed to scale blockchain infrastructure operations, accelerate revenue growth and increase ETH accumulation while minimizing shareholder dilution. During the nine months ended September 30, 2025, the Company completed a strategic wind-down of its validator node operations on Avalanche (AVAX), Cosmos (ATOM), Akash (AKT), and Kava (KAVA), and liquidated the majority of its non-Ethereum token holdings. These actions were undertaken to align operations and capital allocation with the Company’s Ethereum-centric focus. The Company’s operations are subject to various risks, including technological complexity, regulatory uncertainty, market volatility, and competition within the blockchain infrastructure space. BTCS’s future success depends on Ethereum’s continued adoption, the evolution of decentralized infrastructure markets, and the Company’s ability to operate blockchain infrastructure efficiently at scale.

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