Grayscale Bitcoin Trust (Btc) (P:GBTC)

Business Focus: N/A

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Sector: Technology	Industry: N/A

Company Contact

Address:	290 Harbor Drive, 4Th Floor STAMFORD CT 06902
Tel:	N/A
Website:	https://grayscale.co/bitcoin-trust
IR:	See website

Key People

Michael Sonnenshein Chief Executive Officer, Director	Edward Mcgee Chief Financial Officer	Hugh Ross Chief Operating Officer

Business Overview

Grayscale Bitcoin Trust (the Trust) is an investment vehicle. The Trust's purpose is to hold Bitcoins, which are digital assets that are created and transmitted through the operations of the peer-to-peer Bitcoin network, a decentralized network of computers that operates on cryptographic protocols. Its investment objective is for the value of the shares (based on Bitcoin per Share) to reflect the value of Bitcoin held by the Trust, determined by reference to the Index Price, less the Trust's expenses and other liabilities. The Trust's activities include issuing Baskets in exchange for Bitcoins transferred to the Trust; transferring or selling Bitcoins, Incidental Rights and IR Virtual Currency; transferring Bitcoins in exchange for Baskets surrendered for redemption; causing the Sponsor to sell Bitcoins, Incidental Rights and IR Virtual Currency on the termination of the Trust; and making distributions of Incidental Rights and/or IR Virtual Currency or cash from the sale thereof.

Financial Overview

For the fiscal year ended 31 December 2023, Grayscale Bitcoin Trust (Btc) revenues was not reported. Net income totaled $15.89B vs. loss of $19.11B. Net income reflects Unrealized G/L on Investment Securities increase from $18.97B (expense) to $16.03B (income), Realized G/L on Investments Securities increase of 1% to $218.8M (income). Basic Earnings per Share excluding Extraordinary Items increased from -$27.60 to $22.94.

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