Company: BTC
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029405
Chunk: 47

Company: Grayscale Bitcoin Mini Trust ETF
Filing Date: 2025-02-28
Form: 10-K
Item: Item 16
Chunk 47
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 destroyed or otherwise compromised and no backup of the private keys are accessible, the Trust may be unable to access the Bitcoin controlled by the private key and the private key will not be capable of being restored by the Bitcoin Network. The processes by which Bitcoin transactions are settled are dependent on the Bitcoin peer-to-peer network, and as such, the Trust is subject to operational risk. A risk also exists with respect to previously unknown technical vulnerabilities, which may adversely affect the value of Bitcoin.The Trust relies on third-party service providers to perform certain functions essential to its operations. Any disruptions to the Trust’s service providers’ business operations, resulting from business failures, financial instability, security failures, government mandated regulation or operational problems could have an adverse impact on the Trust’s ability to access critical services and be disruptive to the operations of the Trust.The Sponsor and the Trust may be subject to various litigation, regulatory investigations, and other legal proceedings that arise in the ordinary course of its business.

9. Quarterly Statements of OperationsFiscal Period from July 31, 2024 (the Commencement of the Trust’s Operations) to December 31, 2024

        (Amounts in thousands)
         
        July 31, 2024 (the Commencement of the Trust’s Operations) to September 30, 2024 (unaudited)

        October 1, 2024 to December 31, 2024 (unaudited)

        July 31, 2024 (the Commencement of the Trust’s Operations) to December 31, 2024

        Expenses

        Sponsor’s Fee, related party
         
        $
        491

        $
        1,146

        $
        1,637

        Net investment loss
         
        $
        (491
        )
         
        $
        (1,146
        )
         
        $
        (1,637
        )

        Net realized and unrealized (loss) gain from:

        Net realized (loss) gain on investment in Bitcoin sold to pay expenses

        (35
        )

        239

        204

        Net realized (loss) gain on investment in Bitcoin sold for redemption of shares

        (3,289
        )

        94,012

        90,723

        Net change in unrealized appreciation on investment in Bitcoin

        (31,309
        )

        920,386

        889,077

        Net realized and unrealized (loss