Quarterly ResultMay 12, 2026, 05:07 PM
BTC Development Q1 Net Income $1.70M; Trust Account $257.25M
AI Summary
BTC Development Corp., a Special Purpose Acquisition Company (SPAC), reported a net income of $1.70 million for the three months ended March 31, 2026, a significant improvement from a net loss of $35,626 in the prior year period. This income was primarily driven by $2.24 million in interest earned on marketable securities held in its Trust Account, which now totals $257.25 million. The company continues to seek a Business Combination and reported $1.45 million in cash and a working capital surplus of $1.59 million.
Key Highlights
- Net income for Q1 2026 was $1,701,548, compared to a net loss of $35,626 in Q1 2025.
- Interest earned on marketable securities in the Trust Account was $2,242,309 for Q1 2026.
- Marketable securities held in Trust Account increased to $257,254,864 as of March 31, 2026.
- Cash balance as of March 31, 2026, was $1,448,349, down from $1,985,699 at December 31, 2025.
- Total assets increased to $259,014,126 as of March 31, 2026, from $257,284,312.
- Accumulated deficit increased to $(9,146,907) as of March 31, 2026.
- Working capital surplus was $1,590,288 as of March 31, 2026.