BTC Development Corp. filed its quarterly report on Form 10-Q with the U.S. Securities and Exchange Commission on August 10, 2026, covering the quarter ended June 30, 2026.

Key Highlights

  • Trust Account: Marketable securities held in Trust Account totaled $259,531,936 as of June 30, 2026, up from $255,012,555 at December 31, 2025.
  • Redemption Value: 25,300,000 Class A ordinary shares subject to possible redemption were reported at a redemption value of $10.26 per share as of June 30, 2026.
  • Net Income: The company reported net income of $1,868,465 for the three months ended June 30, 2026, compared to a net loss of $3,668 for the same period in 2025.
  • Interest Income: Interest earned on marketable securities in the Trust Account was $2,277,072 for the three months ended June 30, 2026.
  • Operating Loss: Formation, general and administrative costs for the six months ended June 30, 2026 were $949,368, resulting in a loss from operations of $949,368.
  • Shareholders' Deficit: Total shareholders' deficit was $(9,554,569) as of June 30, 2026, compared to $(8,605,201) at December 31, 2025.
  • Cash Position: Cash at the end of the period was $1,124,620, down from $1,985,699 at the beginning of the year.

BTC Development Corp. Q2 2026 Financial Results and Trust Account Status

According to the filing, BTC Development Corp. (NASDAQ: BDCI, BDCIU, BDCIW) reported total assets of $260,913,060 as of June 30, 2026, with the substantial majority held in the Trust Account as marketable securities. The company disclosed that 25,300,000 Class A ordinary shares remained subject to possible redemption at a per-share redemption value of $10.26. As of August 10, 2026, there were 26,060,000 Class A ordinary shares and 8,686,667 Class B ordinary shares issued and outstanding, according to the filing.

The company reported net income of $3,570,013 for the six months ended June 30, 2026, driven primarily by $4,519,381 in interest earned on marketable securities held in the Trust Account. This was offset by $949,368 in formation, general and administrative costs for the same period. For the six months ended June 30, 2025, the company reported a net loss of $39,294, with no interest income from the Trust Account. Basic and diluted net income per Class A and Class B ordinary share was $0.10 for the six months ended June 30, 2026, the filing stated.

The filing disclosed that net cash used in operating activities was $861,079 for the six months ended June 30, 2026. Total current liabilities were $155,693, and a deferred underwriting fee payable of $10,780,000 remained on the balance sheet. The company also disclosed that 760,000 Class A ordinary shares were issued and outstanding excluding those subject to possible redemption, and that no preference shares were issued or outstanding as of June 30, 2026. The registrant identified itself as a smaller reporting company, a non-accelerated filer, and an emerging growth company, and indicated it is a shell company as defined under Rule 12b-2 of the Exchange Act.

What Was Disclosed

BTC Development Corp. disclosed its unaudited condensed financial statements for the quarter and six months ended June 30, 2026, including balance sheet data, income statement results, cash flow information, and details on Trust Account holdings and share redemption values.