BitVentures Limited Announces Unaudited Financial Results for the First Half of Fiscal Year 2026
Rhea-AI Summary
BitVentures (NASDAQ:BVC) reported unaudited results for the first half of fiscal 2026 ended December 31, 2025. Continuing-operations revenue reached US$0.3 million, up from nil, mainly from a new Amazon-based e-commerce business and increased client referral services.
General and administrative expenses fell 62.3% to US$0.9 million. Other income was US$5.4 million, largely from a US$5.3 million recovery of prior bank balance impairments. The company executed a 20-for-1 share consolidation, terminated its ADS program, and listed consolidated ordinary shares on Nasdaq. BitVentures rolled out an e-commerce segment and approved a digital assets mining segment using Bitmain machines hosted in U.S. datacenters.
Positive
- Continuing-operations revenue increased to US$0.3 million from nil year earlier
- General and administrative expenses declined 62.3% to US$0.9 million
- Other income reached US$5.4 million from recovery of US$5.3 million bank impairments
- Interest line swung to US$0.1 million net income from US$0.01 million expense
- Launch of e-commerce segment via Amazon resale model adds new revenue stream
- Board-approved digital assets mining segment with Bitmain fleets and U.S. hosting
Negative
- Share-based compensation expenses rose to US$0.2 million from nil
- Exit from Hong Kong wealth and asset management businesses, including disposals for nil and US$0.6 million consideration
- Cost of revenue increased to US$0.03 million reflecting expenses from new e-commerce business
- 20-for-1 share consolidation and ADS termination significantly changed capital structure and trading instrument
News Market Reaction – BVC
In the Jun 16 session, BVC gained 18.18%, reflecting a significant positive market reaction. Argus tracked a peak move of +11.2% during that session. Our momentum scanner triggered 4 alerts that day, indicating moderate trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jan 02 | Digital assets launch | Positive | +22.8% | Initiated crypto mining segment with new high-efficiency fleets and hosting. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Prior news on the digital assets expansion saw a strong positive price reaction, suggesting the market has rewarded growth initiatives tied to crypto mining.
In the past six months, BitVentures reported a major strategic shift with the January 2, 2026 launch of its Digital Assets segment and acquisition of cryptocurrency mining fleets totaling about 0.5 MW of capacity. That announcement, tagged as an acquisition event, led to a 22.81% gain over 24 hours. Today’s first-half fiscal 2026 results highlight early revenue from new e-commerce operations and substantial cost reductions, building directly on this earlier repositioning toward technology and digital assets.
Key Terms
adr facility financial
cryptocurrency mining technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
HONG KONG, June 16, 2026 (GLOBE NEWSWIRE) -- BitVentures Limited (“BitVentures” or the "Company") (NASDAQ: BVC) today announced its unaudited financial results for the first half of fiscal year 2026 ended December 31, 2025.
BitVentures Limited is a Cayman Islands holding company, with operating subsidiaries globally including Hong Kong and the United States. We are a technology company focusing on developing early-stage technology businesses, and aim to actively build, operate and scale our businesses in order to achieve growth. The Company is currently developing businesses in e-commerce, digital assets, and may target opportunities in other areas of consumer and enterprise technology. The Company believes that early-stage technology ventures may offer exceptional growth opportunities, and seeks to identify and nurture such high-potential ventures.
Business Development and Updates
Share Capital Restructuring and Termination of American Depositary Shares (the “ADSs”)
On December 19, 2025, the Company held an Extraordinary General Meeting and passed a number of resolutions pertaining to the Company’s share capital restructuring. Following the shareholders’ approval by resolutions at the Extraordinary General Meeting, the Company terminated its Deposit Agreement dated March 25, 2021 entered into between the Company and Deutsche Bank Trust Company Americas as depositary for the Company’s ADSs, and beneficial owners and holders of ADSs issued thereunder. Immediately following the termination of the ADR Facility, the Company consolidated its shares such that every issued and unissued twenty (20) ordinary shares of par value US
E-commerce Business Segment
During first half of fiscal year 2026, the Company began official rollout of its e-commerce segment. The Company operated its e-commerce segment under a resale model, offering high-demand products such as consumer electronics via its storefront on Amazon.
Digital Assets Segment
On January 2, 2026, the Company announced that the Company’s Board has approved the official launch of its Digital Assets segment. Starting in the second half of fiscal year 2026, the Company acquired several fleets of Bitmain cryptocurrency mining machines and hosting capacity and began its cryptocurrency mining operations. The miners are hosted in various secure, high-uptime datacenters across the United States.
Subject to ongoing market conditions, the Company intends to continue to pursue a diversified cryptocurrency mining strategy, which may include targeting Bitcoin and select altcoins to optimize risk-adjusted profitability
First Half of Fiscal Year 2026 Highlights
Continuing Operations
Net revenues
Total revenues from continuing operations in the six months ended December 31, 2025 increased to US
Operating Costs and Expenses
Cost of revenue in the six months ended December 31, 2025 increased to US
General and administrative expenses from continuing operations in the six months ended December 31, 2025 decreased by
Share-based compensation expenses from continuing operations in the six months ended December 31, 2025 increased to US
Interest income, net from continuing operations in the six months ended December 31, 2025 increased to US
Other income/ (expense), net from continuing operations in the six months ended December 31, 2025 were net income of US
Discontinued Operations
In August 2024, the Company completely exited from its historical businesses in overseas wealth management and asset management and disposed of certain subsidiaries in Hong Kong, namely, Haiyin Insurance (Hong Kong) Co., Limited and Hywin International Insurance Broker Limited for nil consideration, and Haiyin International Asset Management Limited and Hywin Asset Management (Hong Kong) Limited for US
About BitVentures Limited
BitVentures Limited is a technology-focused company. The Company is actively developing technology businesses in verticals including e-commerce, digital assets, and other areas of consumer and enterprise technology. The Company believes that early-stage technology ventures may offer exceptional growth opportunities, and seeks to identify and nurture such high-potential ventures. For more information, please visit https://ir.bitventures.io.
Safe Harbor Statement
This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “anticipate,” “estimate,” “forecast,” “plan,” “project,” “potential,” “continue,” “ongoing,” “expect,” “aim,” “believe,” “intend,” “may,” “should,” “will,” “is/are likely to,” “could” and similar statements. Statements that are not historical facts, including statements about the Company's beliefs, plans, and expectations, are forward looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Investor Contact:
BitVentures Limited
Email: ir@bitventures.io
| BITVENTURES LIMITED CONSOLIDATED BALANCE SHEETS (In thousands, except for number of shares and per share data) | ||||||
| As of June 30, 2025 | As of December 31, 2025 | |||||
| (US$’000) | (US$’000) | |||||
| Audited | Unaudited | |||||
| Assets | ||||||
| Current assets: | ||||||
| Cash and cash equivalents | 950 | 6,826 | ||||
| Short term investments | 8,791 | 7,424 | ||||
| Account receivables | - | 5 | ||||
| Deposits, prepayments and other current assets | 143 | 377 | ||||
| Inventories | - | 23 | ||||
| Total current assets | 9,884 | 14,655 | ||||
| Property and equipment, net | 5 | 5 | ||||
| Total non-current asset | 5 | 5 | ||||
| Total Assets | 9,889 | 14,660 | ||||
| Liabilities and Shareholders’ equity | ||||||
| Current liabilities: | ||||||
| Other payables and accrued liabilities | 158 | 24 | ||||
| Total current liabilities | 158 | 24 | ||||
| Total Liabilities | 158 | 24 | ||||
| Shareholders’ Equity: | ||||||
| Ordinary shares (US | 17 | 17 | ||||
| Additional paid-in capital | 45,783 | 45,947 | ||||
| Accumulated deficit | (36,069 | ) | (31,328 | ) | ||
| Total shareholders’ equity | 9,731 | 14,636 | ||||
| Total Liabilities and shareholders’ equity | 9,889 | 14,660 | ||||
| BITVENTURES LIMITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS)/INCOME (In Thousands, except for share and per share data, or otherwise stated) | ||||||||
| Six Months Ended December 31, | ||||||||
| 2024 | 2025 | |||||||
| (US$’000) | (US$’000) | |||||||
| Continuing operations | ||||||||
| Net revenues | ||||||||
| Client referral services | - | 289 | ||||||
| E-Commerce retail | - | 36 | ||||||
| Total net revenues | - | 325 | ||||||
| Operating cost and expenses | ||||||||
| Cost of revenue | - | 27 | ||||||
| Share-based compensation expense | - | 164 | ||||||
| General and administrative expenses | 2,364 | 891 | ||||||
| Total operating cost and expenses | 2,364 | 1,082 | ||||||
| (Loss) from operations | (2,364 | ) | (757 | ) | ||||
| Other income/ (expenses) | ||||||||
| Interest expense/ (income), net | (17 | ) | 149 | |||||
| Other income/ (expense), net | (245 | ) | 5,349 | |||||
| Total other income/ (expense), net | (262 | ) | 5,498 | |||||
| (Loss)/ income before income tax expense | (2,626 | ) | 4,741 | |||||
| Income tax expense | (117 | ) | - | |||||
| Net (loss)/ income from continuing operations | (2,743 | ) | 4,741 | |||||
| Discontinued operations | ||||||||
| Income for the year from discontinued operations, net of income taxes | 421 | - | ||||||
| Net (loss)/ income and comprehensive loss for the period | (2,322 | ) | 4,741 | |||||
| (Loss)/ income per share | ||||||||
| From continuing and discontinued operations | ||||||||
| Ordinary share - Basic | (0.83 | ) | 0.56 | |||||
| Ordinary share - diluted | (0.83 | ) | 0.56 | |||||
| From continuing operations | ||||||||
| Ordinary share - Basic | (0.98 | ) | 0.56 | |||||
| Ordinary share - diluted | (0.98 | ) | 0.56 | |||||
| From discontinued operations | ||||||||
| Ordinary share - Basic | 0.15 | N/A | ||||||
| Ordinary share - diluted | 0.15 | N/A | ||||||
| Weighted average number outstanding: | ||||||||
| Ordinary share - Basic | 2,800,000* | 8,400,000* | ||||||
| Ordinary share - Diluted | 2,800,000* | 8,400,000* | ||||||
* On December 19, 2026, the Company held an Extraordinary General Meeting and shareholders approved a share consolidation such that every issued and unissued twenty (20) ordinary shares of par value US
According to ASC 260 Earnings Per Share, the share consolidation requires a retroactive adjustment to the Weighted Average Shares Outstanding for all periods presented in the consolidated statements.
| BITVENTURES LIMITED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (In Thousands, except for share and per share data, or otherwise stated) | |||||||||||||||||
| Ordinary shares | Additional paid-in capital | Accumulated deficit | Total Shareholders ’ equity | ||||||||||||||
| Number of ordinary shares | Amount | ||||||||||||||||
| (US$’000) | (US$’000) | (US$’000) | (US$’000) | ||||||||||||||
| Balance as of June 30, 2025 | 168,000,000 | 17 | 45,783 | (36,069 | ) | 9,731 | |||||||||||
| Share consolidation | (159,600,000 | ) | - | - | - | - | |||||||||||
| Share-based compensation recognized in equity | - | - | 164 | - | 164 | ||||||||||||
| Net income for the period | - | - | - | 4,741 | 4,741 | ||||||||||||
| Balance as of December 31, 2025 | 8,400,000 | 17 | 45,947 | (31,328 | ) | 14,636 | |||||||||||
