Bitcoin
Capital B Posts $78M H1 Loss on Bitcoin Impairment While Expanding Holdings
European treasury firm Capital B recorded a $78 million first-half net loss due to a non-cash Bitcoin impairment, while growing its reserve to 3,538 BTC.
France-listed treasury firm Capital B posted a net loss of 69.5 million euros ($78 million) for the first half of 2026, primarily caused by a $75.8 million non-cash Bitcoin impairment charge reflecting asset prices as of June 30.
Despite the accounting loss, the company’s consolidated revenue increased 3.5% year-over-year to $6.5 million, while adjusted EBITDA stood at negative $1.2 million. The firm completed $30 million in capital raises during the half-year period to finance continued cryptocurrency purchases.
Capital B's Bitcoin reserves grew 11% in the first half from 2,823 BTC in January to 3,139 BTC by late June, expanding further to 3,538 BTC by September 30. With a treasury valuation of $290 million, the company ranks as Europe’s second-largest corporate Bitcoin holder behind Germany’s Bitcoin Group, and 25th globally according to Bitcointreasuries data.
Corporate developments included shareholder approval in June for up to $120 billion in financing capacity for asset purchases, followed by a 10-for-1 reverse stock split in July to attract institutional investors. The company's shares were down 25% year-to-date despite a 0.5% gain in Friday morning trading.
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