Cryptoupdated 1h ago2 min read
Capital B Reports €69.5 Million First-Half Net Loss From Bitcoin Impairment Charge
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Net loss of €69.5 million ($78 million) for H1 2026. Bitcoin holdings rose about 11% in H1 to 3,139 BTC.
12 outlets told this the same way.
Capital B logs $78M loss
Capital B reported a net loss of €69.5 million ($78 million) for the first half of 2026, with the company saying the result was largely driven by a non-cash Bitcoin impairment charge. Capital B said the impairment reflected Bitcoin prices on June 30, 2026 and had no direct cash impact, while the company continued expanding its cryptocurrency reserves. Capital B reported that consolidated revenue rose 3.5% year-on-year to €5.85 million, and it showed adjusted EBITDA of a loss of €1.07 million compared with a loss of €815,000 in the first half of 2025.
Capital B also disclosed that it raised approximately €27.5 million ($30 million) during the first half and increased its Bitcoin holdings by 11.2%, from 2,823 BTC at the beginning of the year to 3,139 BTC as of June 30 2026. Capital B’s half-year results placed the company’s reported earnings in contrast with its ongoing Bitcoin accumulation strategy, as the value of its holdings could fluctuate with market prices without triggering cash outflows.
Holdings rise, accounting weighs
Capital B said its Bitcoin impairment charge was €67.5 million ($75.8 million) and that the adjustment did not represent a sale of Bitcoin, even as the company’s mark-to-market losses weighed on its reported results. Capital B reported that it increased its Bitcoin holdings by about 11% from 2,823 to 3,139, and it kept adding afterward to bring holdings to 3,538 as of the end of September. Capital B said its strategic reserve reached 3,538 BTC on September 30, 2026, representing a 25.3% increase since the start of the year.
Capital B disclosed that its total acquisition cost for the September holdings was €310.6 million, equivalent to an average purchase price of €87,805 per Bitcoin. Capital B also reported that its treasury strategy continued despite the accounting losses, with one report noting that the impairment reflected Bitcoin prices as of June 30 and had no direct cash impact.
Financing and future pressure
Capital B said it continued raising funds to fuel its Bitcoin accumulation, announcing capital raises totaling $30 million in the first half of the year. Capital B reported that it approved a 10-for-1 reverse stock split in July aimed at broadening its institutional investor base, and it said shareholders approved up to $120 billion in financing capacity including equity and credit instruments. Capital B disclosed that its strategic reserve was 3,538 BTC as of September 30, and it reported BTC Yield of 2.2% through September.
Capital B said its half-year report cautioned that BTC Yield was not equivalent to a conventional investment yield and did not measure operating profit, cash generation, or the investment return earned by shareholders. Capital B also reported that its share price was down 25% year-to-date at the time of reporting, even as the company continued buying Bitcoin and expanding its treasury.