TheBlock
Capital B reported a €69.5 million ($78.1 million) net loss for the first half of the year, up from €1.9 million a year earlier. The company attributed about €67.5 million ($75.9 million) to an additional bitcoin impairment charge based on BTC's price on June 30, and said the charge had no cash impact.
Revenue rose 3.5% year on year to €5.8 million ($6.5 million), from €5.6 million in the first half of 2025. The results show how accounting treatment can widen reported losses for corporate bitcoin holders even when their treasury strategy continues.
Capital B said its strategic reserve reached 3,538 BTC as of Sept. 30, up 25.3% from 2,823 BTC in January. The holdings carried a total acquisition cost of €310.6 million ($349.4 million), or an average of €87,805 ($98,768) per bitcoin.
The firm raised €27.5 million ($30.9 million) in the first half and another €31.7 million ($35.6 million) between July 1 and Oct. 15 to support the strategy. It also acquired 376 BTC for €25.3 million ($28.4 million) in September, its largest purchase of the year.
Frequently asked questions
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How large was Capital B's first-half net loss?
Capital B reported a €69.5 million ($78.1 million) net loss for the first half, compared with €1.9 million a year earlier.
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What caused most of Capital B's reported loss?
About €67.5 million ($75.9 million) came from an additional bitcoin impairment charge based on BTC's price on June 30.
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Did the bitcoin impairment charge reduce Capital B's cash?
No. Capital B said the impairment charge had no cash impact.
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How many bitcoin did Capital B hold by Sept. 30?
Capital B reported a strategic reserve of 3,538 BTC as of Sept. 30, up 25.3% from 2,823 BTC in January.
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How did Capital B fund its bitcoin treasury strategy?
The company raised €27.5 million in the first half and another €31.7 million between July 1 and Oct. 15. It used the capital to support additional bitcoin purchases.
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