BVC posts $4.7M net income in first half of fiscal 2026

BitVentures Limited (NASDAQ: BVC) reported unaudited financial results for the first half of fiscal year 2026, ended December 31, 2025, swinging to net income of $4.7 million from a net loss of $2.3 million in the same period a year earlier, according to a company statement.

Total net revenues from continuing operations reached $325,000, up from zero in the prior-year period, driven by $289,000 in client referral services and $36,000 from a newly launched e-commerce retail business operating through Amazon. General and administrative expenses fell 62.3% to $891,000 from $2.4 million, primarily due to a reduction in legal and professional fees following the completion of corporate restructuring activities. The operating loss from continuing operations narrowed to $757,000 from $2.4 million.

Other income of $5.4 million, largely from the recovery of a prior impairment loss on bank balances of $5.3 million, drove the overall profit. Total assets rose to $14.7 million as of December 31, 2025, from $9.9 million as of June 30, 2025, with cash and equivalents increasing to $6.8 million from $950,000.

In December 2025, shareholders approved a share consolidation, converting every 20 ordinary shares into one consolidated share, reducing shares outstanding to 8.4 million. The company simultaneously terminated its American Depositary Share facility with Deutsche Bank Trust Company Americas and listed its consolidated ordinary shares directly on the Nasdaq Capital Market on January 5, 2026.

The company also announced the launch of a digital assets segment, with cryptocurrency mining operations using Bitmain machines hosted at U.S. data centers beginning in the second half of fiscal year 2026. In August 2024, BitVentures completed its exit from wealth management and asset management businesses in Hong Kong.

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