USBC

USBC, Inc.

Treasury Qualification

Treasury classificationBitcoin Treasury Company

Qualification tierPending qualification

Directory statusNeeds Review

Ownership statusHOLD - methodology review required. No complete current or older methodology-compliant attributable BTC balance is established, so eligible BTC and its date remain null. The approximately 1,029.25-BTC August 24, 2026 headline is separate from the 479-BTC loan pledge dated September 11. That later pledge is documented only in notes and is not subtracted from August's headline or inserted as a same-date component. The April 17, 2026 headline of 1,025.81 BTC remains historical provenance. Rounded options-collateral percentages and dollar receivables do not establish eligible BTC units. Needs Review / pending, not included in totals. The unchanged btc_total_reported of 1,025.81 retains only the April 17, 2026 legacy headline.

Strategic intent

USBC treats Bitcoin as its primary treasury reserve asset and states that the holdings are long-term strategic assets rather than short-term trading positions. The company uses an actively managed options program intended to increase its Bitcoin-denominated holdings and support development of its financial-technology and tokenized-deposit businesses.

Bitcoin Treasury

Last verified attributable BTCUnknown

Balance dateNot established

Estimated valueUnavailable

Average purchase priceNot disclosed

Not included in totals

HOLD — current attributable BTC remains unresolved

Separately reported BTC — not used in totals

1,029.25 BTC · Balance date: August 24, 2026

HOLD - methodology review required. No complete current or older methodology-compliant attributable BTC balance is established, so eligible BTC and its date remain null. The approximately 1,029.25-BTC August 24, 2026 headline is separate from the 479-BTC loan pledge dated September 11. That later pledge is documented only in notes and is not subtracted from August's headline or inserted as a same-date component. The April 17, 2026 headline of 1,025.81 BTC remains historical provenance. Rounded options-collateral percentages and dollar receivables do not establish eligible BTC units. Needs Review / pending, not included in totals. The unchanged btc_total_reported of 1,025.81 retains only the April 17, 2026 legacy headline.

Reported BTC source

Ownership and Restrictions

Component figures are shown only when separately disclosed and may overlap; they are not additive. Components refer to the eligible balance date unless dated otherwise in research notes. “Not separately disclosed” does not imply zero.

Total BTC reported1,025.81

Unencumbered / unrestrictedNot separately disclosed

Pledged as collateralNot separately disclosed

Loaned to third parties0

Subsidiary-ownedNot separately disclosed

Other restricted owned BTCNot separately disclosed

Latest Financial Results

Reporting period: Three months ended June 30, 2026

Revenue$0

Operating income/loss$-16,430,235

Net income/loss$-20,788,574

Cash$2,982,232

Management

Chief executive officer: Robert Gregory Kidd
Chief financial officer: Daniel J. Beck
Executive chair: Robert Gregory Kidd

Research Notes

USBC reported approximately 1,025.81 BTC valued at $79.4 million as of April 17, 2026. Substantially all treasury reserve assets were invested in Bitcoin. The company describes Bitcoin as its primary treasury reserve asset and as a long-term strategic holding rather than a short-term trading position. Most Bitcoin is held in segregated cold-storage custody accounts with Coinbase Custody Trust Company and Payward Financial. USBC explicitly states that it does not custody Bitcoin for clients. Approximately 3.9% of the total treasury was pledged to a counterparty for digital-asset options trading activities. Because 3.9% is an approximate percentage and no exact Bitcoin amount was disclosed, pledged and unencumbered fields remain unspecified rather than converting the percentage into a false-precision BTC figure. The treasury originated largely from a 2025 controlling investment in which the company received 1,000 BTC and $15 million in cash. USBC may use covered-options activity to generate premiums and enhance its Bitcoin-denominated holdings. September 29, 2026 methodology and financial refresh: HOLD - methodology review required. No complete current or older methodology-compliant attributable BTC balance is established, so eligible BTC and its date remain null. The approximately 1,029.25-BTC August 24, 2026 headline is separate from the 479-BTC loan pledge dated September 11. That later pledge is documented only in notes and is not subtracted from August's headline or inserted as a same-date component. The April 17, 2026 headline of 1,025.81 BTC remains historical provenance. Rounded options-collateral percentages and dollar receivables do not establish eligible BTC units. Needs Review / pending, not included in totals. The unchanged btc_total_reported of 1,025.81 retains only the April 17, 2026 legacy headline. USD, Q2 2026 (three months ended June 30; balance sheet June 30). Revenue 0 is supported by the Revenue Recognition note (no customer-contract revenue recognized), not a printed revenue statement row. Operating loss -16,430,235. 'NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS' -20,788,574 retains common-stockholder attribution even though it equals consolidated loss this quarter. Cash 2,982,232 excludes restricted cash. CFO Daniel J. Beck is supported by the September 16 filing. Retain USBC identity, usbc.xyz and existing IR domain. Financial source: https://www.sec.gov/Archives/edgar/data/1074828/000107482826000065/usbc-20260630.htm (published August 7, 2026). Existing holdings_source_url retains legacy provenance only; no eligible balance is certified. Separate headline source: https://www.sec.gov/Archives/edgar/data/1074828/000107482826000074/usbc-20260827.htm (published August 27, 2026; balance August 24, 2026). Management and separately dated September pledge source: https://www.sec.gov/Archives/edgar/data/1074828/000107482826000078/usbc-20260911.htm (September 16, 2026). Historical notes above are preserved as dated history; earlier eligibility descriptions do not override this review. The existing last_verified date is unchanged and is not a blanket verification of unresolved fields.