Business
BTC Development is a Cayman Islands blank check company formed to pursue a business combination, with a stated focus on the bitcoin ecosystem or companies that could use bitcoin in capital structure or operations.
BTC Development is a new bitcoin-focused SPAC with trust capital, no revenue, and negative equity.
The read at a glance✓ Audited against SEC data
- Business mix — Bitcoin-focused SPACNote
- Lifecycle — IPO closed October 2025Note
- Revenue — No revenue in bundle financialsNote
- Profitability — Net income $1.9MOK
- Equity — Equity fell to -$8.6MWatch
- Insiders — 0 purchases / 0 salesNote
- Accounting — No current forensic screen in bundleNote
Leadership changes
From BTC Development Corp.'s own filings, the day they're filed.
- Jonathan Kirkwood · Directors · appointmenteff. 2025-09-29
- Andrew Hohns · Directors · appointmenteff. 2025-09-29
- Hersh Kozlov · Directors · appointmenteff. 2025-09-29
Latest filings
- 10-Q · Quarterly report2026-08-10
- 10-Q · Quarterly report2026-05-12
- 10-K · Annual report2026-03-24
- 8-K · Company announcement2026-02-24
- 10-Q · Quarterly report2025-11-12
In the full recordFree for 14 days
- What changed🔒
- Insider signal🔒
- Growth quality🔒
- Margins & accounting🔒
- Capital allocation🔒
- Real risks🔒
- The long arc🔒
- Company history🔒
- Main tension🔒
- The filings, readable — with what changed vs the prior year highlighted🔒
- Full financial statements, industry-aware, sources cited throughout🔒
- Forensic score history & components — the trend, not one year🔒
- Ownership: insider buys/sells, clusters, activist stakes🔒
- Ana — ask about BTC Development Corp., every answer cited to the official filings🔒
Every figure comes from the company's filings, and analysis whose figures don't match SEC data is rejected before publication.
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