| Summary of Company's Bitcoin Held in Treasury |
The following is a summary of Fold’s bitcoin held in treasury as of the dates shown:
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March 31, 2026 |
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December 31, 2025 |
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Rewards treasury (USD) |
|
$ |
5,253,902 |
|
|
$ |
6,872,869 |
|
Investment treasury (USD) |
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|
56,355,303 |
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|
|
133,658,791 |
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Total bitcoin treasury (USD) |
|
$ |
61,609,205 |
|
|
$ |
140,531,660 |
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March 31, 2026 |
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December 31, 2025 |
|
Rewards treasury (BTC) |
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|
77 |
|
|
|
79 |
|
Investment treasury (BTC) |
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|
826 |
|
|
|
1,527 |
|
Total bitcoin treasury (BTC) |
|
|
903 |
|
|
|
1,606 |
|
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| Schedule of Reconciliation in the Aggregate Balances of the Company's Digital Assets |
A reconciliation, in the aggregate, of beginning and ending balances of the Company’s digital assets as of the dates shown is as follows:
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Rewards Treasury |
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Investment Treasury |
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Digital Assets |
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Bitcoin held at January 1, 2025 |
|
$ |
8,569,651 |
|
|
$ |
93,568,700 |
|
|
$ |
102,138,351 |
|
Purchases of bitcoin |
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|
522,293 |
|
|
|
1,040,680 |
|
|
|
1,562,973 |
|
Bitcoin received from March 2025 Investor Note (2) |
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- |
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|
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43,965,525 |
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|
|
43,965,525 |
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Disbursements of bitcoin (1) |
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|
(715,814 |
) |
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|
- |
|
|
|
(715,814 |
) |
Remeasurement gain (loss) on bitcoin (4) |
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|
(1,010,586 |
) |
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(15,617,152 |
) |
|
|
(16,627,738 |
) |
Bitcoin held at March 31, 2025 |
|
$ |
7,365,544 |
|
|
$ |
122,957,753 |
|
|
$ |
130,323,297 |
|
Purchases of bitcoin |
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2,130,176 |
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|
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4,322,120 |
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|
|
6,452,296 |
|
Disbursements of bitcoin (1) |
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(3,239,166 |
) |
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|
- |
|
|
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(3,239,166 |
) |
Remeasurement gain (loss) on bitcoin |
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|
616,315 |
|
|
|
6,378,918 |
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|
|
6,995,233 |
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Bitcoin held at December 31, 2025 |
|
$ |
6,872,869 |
|
|
$ |
133,658,791 |
|
|
$ |
140,531,660 |
|
Purchases of bitcoin |
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|
716,500 |
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|
|
- |
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|
716,500 |
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Bitcoin repayment for March 2025 Investor Note |
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|
- |
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(34,007,466 |
) |
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(34,007,466 |
) |
Sale of bitcoin (3) |
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- |
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(14,376,468 |
) |
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|
(14,376,468 |
) |
Disbursements of bitcoin (1) |
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|
(936,101 |
) |
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- |
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|
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(936,101 |
) |
Transfers of bitcoin from investment treasury |
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|
290,089 |
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(290,089 |
) |
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|
- |
|
Remeasurement gain (loss) on bitcoin (4) |
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|
(1,689,455 |
) |
|
|
(28,629,465 |
) |
|
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(30,318,920 |
) |
Bitcoin held at March 31, 2026 |
|
$ |
5,253,902 |
|
|
$ |
56,355,303 |
|
|
$ |
61,609,205 |
|
(1) Disbursements of bitcoin represent amounts that were distributed to customers to fulfill customer rewards obligations or to satisfy other current obligations. (2) The bitcoin received from the March 2025 Investor Note is net of prepaid interest. Refer to Note 10 for additional details. (3) Proceeds from the sale of bitcoin were used to pay off the June 2025 Amended Investor Note. Refer to Note 10 for additional details. (4) The remeasurement loss of $30.3 million recognized on the digital assets balances for the three months ended March 31, 2026 consisted of a realized gain of $4.6 million and an unrealized loss of $34.9 million. The remeasurement loss of $16.6 million recognized on the digital assets balance for the three months ended March 31, 2025 consisted of a realized gain of $0.5 million and an unrealized loss of $17.1 million.
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