Btcs Inc. · NASDAQ:BTCS
Btcs — Investor Presentation (November 2025)
33 slides from Btcs's investor presentation, November 2025
Slide 1: Investor Presentation
Investor Presentation BTCS Inc. (Nasdaq: BTCS) November 2025 www.btcs.com 1
Slide 2: Safe Harbor
Safe Harbor This presentation contains statements, estimates, forecasts, and projections regarding future performance and events that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. Those
Slide 3: Blockchain Technology Consensus Solutions (BTCS)
Blockchain Technology Consensus Solutions (BTCS) “With a DeFi/TradFi financial model and vertical integrations, we believe BTCS is one of the most sophisticated Ethereum plays in public markets today.” - CEO Charles Allen BTCS Q3 2025 Highlights* Market Capitalization Capital Raised(1) $227 M $213 M
Slide 4: Ethereum's Performance – Cumulative Return
Ethereum’s Performance – Cumulative Return (1) Ethereum is one of the Best-Performing Asset Since 2016 40,000% 35,000% 37,900% Ethereum 30,000% Bitcoin Cumulative Return Nvidia 25,000% Strategy 20,000% 15,000% 16,300% 10,000% 10,700% 5,000% 0% 1,400% 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Slide 5: Ethereum Adoption
Ethereum Adoption Ethereum is the world’s leading smart contract blockchain that powers the tokenization of real-world assets. Ethereum is used by the largest institutions in the world to build stablecoins, tokenize equities, and transform the new digital economy. Real World Assets on Ethereum(1) In
Slide 6: Public Markets – Ethereum Exposure
Public Markets – Ethereum Exposure Public market investors have multiple avenues to gain exposure to ETH, but not all ETH exposure is equal. Exchange Traded Fund Digital Asset Treasury ETH 1:1 Yield Integrated Operations DeFi / TradFi Capital Formation BTCS is a publicly traded, Ethereum-first block
Slide 7: DeFi/TradFi ETH Accretion Flywheel
DeFi/TradFi ETH Accretion Flywheel BTCS ETH Accumulation and Growth Strategy Share Appreciation Block Building Drive Revenue Generate & Strategic Revenue Grow ETH Capital Raise Treasury DeFi Staking Accumulate ETH 7
Slide 8: DeFi / TradFi Flywheel: Scalable High Margin Revenue
DeFi / TradFi Flywheel: Scalable High Margin Revenue BTCS is positioned to capture substantial growth opportunities through its integrated on-chain operations. Build Blocks Staking Through Solo Participate in On-Chain for Validators and Rocket Pool Nodes DeFi Markets • BTCS participates in the block
Slide 9: Accelerating Revenue Growth
Accelerating Revenue Growth BTCS Annual Revenue BTCS Quarterly Revenue $10 M $5 M $4.94M $9.40M $9 M $8 M $4 M $7 M $6 M $3 M $2.78 M $5 M $2.32 M $4.07 M $4 M $2 M $1.69 M $3 M $2 M $1 M $1.34 M $0.74 M $0.56 M $1 M $0 M $0 M 2023 2024 2025* 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2 2025 Q3 NodeOps B
Slide 10: DeFi / TradFi Flywheel: Share Appreciation
DeFi / TradFi Flywheel: Share Appreciation BTCS strives to create long-term value for shareholders by focusing on growing its market capitalization through stock price appreciation. As of the end of Q3 2025, BTCS had increased its market capitalization by approximately 392%, while common shares outs
Slide 11: DeFi / TradFi Flywheel: Capital Strategy
DeFi / TradFi Flywheel: Capital Strategy BTCS strategically accesses capital to optimize shareholder value and increase ETH exposure per share by preserving financial flexibility to capitalize on evolving market opportunities. At-The-Market Above-Market (ATM) Sales Convertible Debt 2025 Capital Rais
Slide 12: DeFi / TradFi Flywheel: Accumulate ETH
DeFi / TradFi Flywheel: Accumulate ETH BTCS continues to expand its ETH holdings through the strategic deployment of capital and the growth of its operational activities. BTCS Ethereum (ETH) Holdings BTCS ETH KPIs(1) 80,000 70.32K $292 M ETH Value 60,000 70,322 ETH owned 781% YoY ETH Growth 40,000 $
Slide 13: Stock Performance – Outperforming Peers and Benchmarks
Stock Performance – Outperforming Peers and Benchmarks(1) 9 Month Ended, 1-Year, and 3-Year Return 9 Month Ended (or Pivot-9 Month Ended) Return 316% 300% 120% 100% 96% 250% 222% 80% 212% 60% 53% 200% 40% 150% 24% 20% 100% 96% 0% 87% 59% -20% 50% 24% -40% 14% 16% 0% -60% -53% 9 Month Ended 1 Year 3
Slide 14: Financial Highlights (Q3 2025)
Financial Highlights (Q3 2025) Results of Operations 3 Months 9 Months Q3 2025 Q2 2025 QoQ Change Q3 2025 Q3 2024 PoP Change Revenues $4.9 m $2.8 m 78% $9.4 m $1.8 m 437% Cost of Revenues ($3.9 m) ($2.9 m) 35% ($8.3 m) ($0.9 m) 848% Gross Profit $1.1 m ($0.1 m) 1,444% $1.1 m $0.9 m 29% Margin 22% -3
Slide 15: Cap Table
Cap Table Equity Instrument Outstanding(1) Fully Diluted(1) (2) Common Shares 47,075,189 47,075,189 Convertible Debt (Conversion Price = $5.85) 1,334,679 Convertible Debt (Conversion Price = $13.00) 773,078 Convert Warrants #1 (Exercise Price = $2.75, exp. 5/13/2030) 532,191 Convert Warrants #2 (Exe
Slide 16: Leadership Team & Board
Leadership Team & Board Leadership Team Charles Allen Michael Prevoznik Benjamin Hunter Eldari Gogiashvili Chief Executive Officer & Chief Financial Officer VP of Engineering Ethereum Team Lead Chairman of the Board Independent Directors Charlie Lee Melanie Pump Ashley DeSimone Director Director Dir
Slide 17: Key Takeaways
Key Takeaways BTCS Annual Revenue $10 M Growing Revenue and Scaling $5 M Operations $0 M 2023 2024 2025 * Raising Accretive Capital Market Cap(1) $300 M $150 M Experienced Leadership Team $0 M 2023 2024 2025 Regulatory Tailwinds 2025 ETH Holdings 80 K Maturing Market 40 K 0K Q1 Q2 Q3 1. As of Decemb
Slide 18: Investors Social Media Channels
Investors Social Media Channels ir@btcs.com www.twitter.com/NasdaqBTCS www.btcs.com www.linkedin.com/company/nasdaq-btcs www.btcs.com/investors/ www.youtube.com/c/BTCSInc www.btcs.com/news-media/ Discord: https://discord.gg/9vW5HkWBJG www.btcs.com/research-thought-leadership/ 18
Slide 19: Appendix
s2 BTCS Appendix
Slide 20: www.btcs.com/builder
www.btcs.com/builder 20
Slide 21: Basics of Transaction Flow on Ethereum
Basics of Transaction Flow on Ethereum Mempool: When a user initiates a transaction, it goes to the mempool, a Next temporary storage for pending transactions awaiting Confirmed confirmation and inclusion in a block. Transactions in the Mempool Builder Validator Block mempool are publicly accessible
Slide 22: Builders and Block Construction
Builders and Block Construction What is Builder+? Builder+ is our Ethereum block builder, which utilizes advanced algorithms to meticulously construct optimized blocks for on-chain validation designed to maximize revenue (MEV). Builders monitor the Ethereum transaction queue (mempool) for pending tr
Slide 23: Block Building on Ethereum
Block Building on Ethereum Acquire Block Space $ (Cost of Sales) Process: Builder+ strategically participates in the Proposer-Builder Separation (PBS) auction system, bidding to secure the right to populate the next block in the chain from the current validator. Block Space Validator Objective:
Slide 24: Ethereum Transaction Process Flow
Ethereum Transaction Process Flow * BTCS does not include transactions with addresses on OFAC’s Specially Designated Nationals and Blocked Persons list and certain other addresses 24
Slide 25: Blockchain Basics
«2 BTCS (5 Blockchain Basics
Slide 26: Blockchains Explained
Blockchains Explained A blockchain ledger is a distributed ledger maintained by a network of computer nodes that validate transactions. Traditional vs. Blockchain Systems How Blockchains Work Distributed ledgers allow for ownership of assets to be recorded through a Transaction (payment, contract, p
Slide 27: Blockchains Ushering in a New Era of Technology Growth
Blockchains Ushering in a New Era of Technology The computer and internet age ushered in the digitization and proliferation of information on a global scale. Ethereum is ushering in an age of real-world asset tokenization and transfer without trusted intermediaries (banks, exchanges, etc.) Next-Gene
Slide 28: Next-Generation PoS Opportunity & Relative Comparison
Next-Generation PoS Opportunity & Relative Comparison Web 3 and transaction-based industries built on next-generation blockchain technologies represent a multi-trillion market opportunity. 1st Generation Blockchains Next-Generation Blockchains e.g. Ethereum Bitcoin and gold are storers of value. The
Slide 29: Traditional vs Decentralized Finance Example
Traditional vs Decentralized Finance Example Traditional Finance Decentralized Finance Built on Ethereum Built on Ethereum, Aave and other DeFi protocols solve inefficiencies in traditional finance by enabling instant, permissionless lending and borrowing. By replacing brick and mortar intermediarie
Slide 30: Ethereum By the Numbers
«2 BTCS ¢ Ethereum By the Numbers
Slide 31: Ethereum Statistics
Ethereum Statistics Ethereum (ETH) is the foundation of BTCS’s blockchain infrastructure strategy, with its unparalleled ecosystem and commitment to innovation aligning seamlessly with our vision for secure, scalable growth. Source: Beaconcha.in 31
Slide 32: Ethereum Compared to Legacy Store of Value Assets
Ethereum Compared to Legacy Store of Value Assets Electric Capital: https://electriccapital.substack.com/p/beyond-stablecoins-the-case-for-ethereum 32
Slide 33: ETH – Stablecoin Flywheel
ETH – Stablecoin Flywheel Electric Capital: https://electriccapital.substack.com/p/beyond-stablecoins-the-case-for-ethereum 33