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Side-by-side financial comparison of Sphere 3D Corp. (ANY) and BTC Digital Ltd. (BTCT). Click either name above to swap in a different company.
BTC Digital Ltd. is the larger business by last-quarter revenue ($4.1M vs $2.7M, roughly 1.5× Sphere 3D Corp.). BTC Digital Ltd. produced more free cash flow last quarter ($-3.1M vs $-23.6M).
Sphere 3D Corp is a global technology company specializing in cloud computing, data management, and virtualization solutions. It delivers enterprise-grade products and services tailored for small to medium-sized businesses, large enterprise clients, and public sector entities, focusing on optimizing IT infrastructure efficiency and cutting operational costs for end users.
BTC Digital Ltd. is a cryptocurrency enterprise focused primarily on Bitcoin mining operations. It manages high-performance computing hardware clusters to validate blockchain transactions and earn Bitcoin rewards, with core operations spanning North America and parts of Southeast Asia, serving the global digital asset ecosystem.
ANY vs BTCT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2024
| Metric | | |
|---|---|---|
| Revenue | $2.7M | $4.1M |
| Net Profit | — | $17.0K |
| Gross Margin | — | 17.4% |
| Operating Margin | -372.7% | -10.6% |
| Net Margin | — | 0.4% |
| Revenue YoY | 3.1% | — |
| Net Profit YoY | — | — |
| EPS (diluted) | $-6.96 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $2.7M | — | ||
| Q3 25 | $2.6M | — | ||
| Q2 25 | $3.0M | — | ||
| Q1 25 | $2.8M | — | ||
| Q4 24 | $2.6M | $4.1M | ||
| Q3 24 | $2.4M | $2.6M | ||
| Q2 24 | $4.7M | $2.3M | ||
| Q1 24 | $6.9M | $2.6M |
| Q4 25 | — | — | ||
| Q3 25 | $-4.2M | — | ||
| Q2 25 | $1.7M | — | ||
| Q1 25 | $-8.8M | — | ||
| Q4 24 | — | $17.0K | ||
| Q3 24 | $104.0K | $-571.0K | ||
| Q2 24 | $2.1M | $-704.0K | ||
| Q1 24 | $-4.5M | $-731.0K |
| Q4 25 | — | — | ||
| Q3 25 | 25.4% | — | ||
| Q2 25 | 23.8% | — | ||
| Q1 25 | 22.1% | — | ||
| Q4 24 | — | 17.4% | ||
| Q3 24 | -16.0% | -10.2% | ||
| Q2 24 | 15.2% | -9.2% | ||
| Q1 24 | 38.0% | -4.8% |
| Q4 25 | -372.7% | — | ||
| Q3 25 | -153.8% | — | ||
| Q2 25 | -87.0% | — | ||
| Q1 25 | -184.2% | — | ||
| Q4 24 | -328.7% | -10.6% | ||
| Q3 24 | -218.8% | -21.2% | ||
| Q2 24 | -122.4% | -27.0% | ||
| Q1 24 | -26.9% | -40.3% |
| Q4 25 | — | — | ||
| Q3 25 | -162.0% | — | ||
| Q2 25 | 55.2% | — | ||
| Q1 25 | -311.9% | — | ||
| Q4 24 | — | 0.4% | ||
| Q3 24 | 4.4% | -22.3% | ||
| Q2 24 | 45.5% | -30.2% | ||
| Q1 24 | -64.5% | -27.6% |
| Q4 25 | $-6.96 | — | ||
| Q3 25 | $-0.15 | — | ||
| Q2 25 | $0.06 | — | ||
| Q1 25 | $-0.32 | — | ||
| Q4 24 | $-4.62 | — | ||
| Q3 24 | $0.01 | $-0.21 | ||
| Q2 24 | $0.10 | $-0.27 | ||
| Q1 24 | $-0.27 | $-0.30 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $3.7M | $14.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $23.3M | $39.9M |
| Total Assets | $25.1M | $41.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.7M | — | ||
| Q3 25 | $5.3M | — | ||
| Q2 25 | $4.7M | — | ||
| Q1 25 | $2.8M | — | ||
| Q4 24 | $5.4M | $14.9M | ||
| Q3 24 | $5.0M | $27.0K | ||
| Q2 24 | $4.3M | $287.0K | ||
| Q1 24 | $9.3M | $32.0K |
| Q4 25 | $23.3M | — | ||
| Q3 25 | $29.5M | — | ||
| Q2 25 | $32.7M | — | ||
| Q1 25 | $30.7M | — | ||
| Q4 24 | $39.3M | $39.9M | ||
| Q3 24 | $35.8M | $20.4M | ||
| Q2 24 | $33.4M | $19.6M | ||
| Q1 24 | $27.5M | $20.3M |
| Q4 25 | $25.1M | — | ||
| Q3 25 | $31.1M | — | ||
| Q2 25 | $34.4M | — | ||
| Q1 25 | $34.3M | — | ||
| Q4 24 | $43.2M | $41.1M | ||
| Q3 24 | $44.3M | $25.1M | ||
| Q2 24 | $44.0M | $24.7M | ||
| Q1 24 | $42.0M | $24.6M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-16.1M | $-1.8M |
| Free Cash FlowOCF − Capex | $-23.6M | $-3.1M |
| FCF MarginFCF / Revenue | -867.3% | -75.4% |
| Capex IntensityCapex / Revenue | 275.4% | 31.2% |
| Cash ConversionOCF / Net Profit | — | -107.53× |
| TTM Free Cash FlowTrailing 4 quarters | $-40.5M | $-3.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-16.1M | — | ||
| Q3 25 | $-3.5M | — | ||
| Q2 25 | $-5.8M | — | ||
| Q1 25 | $-4.1M | — | ||
| Q4 24 | $-4.6M | $-1.8M | ||
| Q3 24 | $290.0K | $-284.0K | ||
| Q2 24 | $-3.3M | $3.5M | ||
| Q1 24 | $-58.0K | $172.0K |
| Q4 25 | $-23.6M | — | ||
| Q3 25 | $-5.7M | — | ||
| Q2 25 | $-6.0M | — | ||
| Q1 25 | $-5.1M | — | ||
| Q4 24 | $-13.5M | $-3.1M | ||
| Q3 24 | $-4.3M | $-294.0K | ||
| Q2 24 | — | $77.0K | ||
| Q1 24 | — | $-433.0K |
| Q4 25 | -867.3% | — | ||
| Q3 25 | -218.7% | — | ||
| Q2 25 | -200.5% | — | ||
| Q1 25 | -181.2% | — | ||
| Q4 24 | -511.9% | -75.4% | ||
| Q3 24 | -184.4% | -11.5% | ||
| Q2 24 | — | 3.3% | ||
| Q1 24 | — | -16.3% |
| Q4 25 | 275.4% | — | ||
| Q3 25 | 86.5% | — | ||
| Q2 25 | 6.6% | — | ||
| Q1 25 | 36.4% | — | ||
| Q4 24 | 338.7% | 31.2% | ||
| Q3 24 | 196.7% | 0.4% | ||
| Q2 24 | 0.0% | 146.8% | ||
| Q1 24 | 0.0% | 22.8% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -3.51× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -107.53× | ||
| Q3 24 | 2.79× | — | ||
| Q2 24 | -1.55× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
