DevvStream is a small, early-stage company that generates and sells environmental assets, primarily carbon credits and International Renewable Energy Certificates (I-RECs). Carbon credits represent one metric ton of CO2 removed or avoided, and DevvStream sells them to corporations and governments seeking to offset emissions or meet sustainability commitments. DevvStream operates across three business lines: an offset portfolio (buying and reselling credits), project development and management (acting as developer or manager of emission-reduction projects, typically retaining roughly 25% of credits generated), and a streaming model (making upfront payments to project owners in exchange for a share of future credits, similar to royalty structures in mining). DevvStream's revenue model depends on the spread between credit acquisition cost and sale price, credit quality, and project throughput. The company is almost entirely pre-revenue — its EV charging project, a primary development asset, does not expect revenue until 2026 — and has encountered execution problems on several credit purchase agreements. DevvStream has three full-time employees and seven contractors. Separately, DevvStream has adopted a digital asset treasury strategy, entering a convertible note facility to raise up to $300M, with an initial $10M tranche, 70% of which was earmarked for Bitcoin, Solana, and DevvE tokens. As of late October 2025, DevvStream had deployed roughly $5.1M into Bitcoin and Solana, staking its Solana holdings for yield. This digital asset strategy is a notable departure from the core environmental asset business.