Capital B posts first-half loss as Bitcoin impairment weighs on results

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Capital B reports Bitcoin loss

Highlights

Capital B reports a 75.8 million dollar Bitcoin impairment charge for H1 2026, resulting in a net loss of 69.5 million euro despite a 3.5% revenue increase to 6.5 million dollars.
The company raises 30 million dollars in H1 2026 and grows its Bitcoin holdings 25% year-to-date to 3,538 BTC, worth 290 million dollars.
A 10-for-1 reverse stock split and shareholder approval of up to 120 billion dollars in new financing signal continued focus on Bitcoin accumulation despite shares being down 25% year to date.

First-half results and treasury buildup

As reported by Cointelegraph, citing Capital B in its first-half 2026 report published Thursday, the company books a 75.8 million dollar Bitcoin impairment charge based on BTC prices as of June 30, with no direct cash impact. The charge drives the group to a net loss of 69.5 million euro, while consolidated revenue rises 3.5% year over year to 6.5 million dollars and adjusted EBITDA stands at negative 1.2 million dollars.

The results indicate the company continues to raise capital to support further Bitcoin accumulation despite the accounting loss. Capital B says it raises 30 million dollars in the first half of 2026 and increases its Bitcoin holdings by 11%, from 2,823 BTC in January to 3,139 BTC at the end of June.

Its total holdings later reach 3,538 Bitcoin by Sept. 30, a 25% increase from the beginning of the year. According to Bitcointreasuries, the treasury is currently worth 290 million dollars, making Capital B the world's 25th-largest corporate Bitcoin treasury and Europe's second-largest by holdings behind Germany-based Bitcoin Group.

Financing plans and market implications

Capital B's shares rise 0.5% in early morning trading on Friday, but remain down 25% year to date, according to Yahoo Finance. The market move suggests investors are weighing the company's expanding Bitcoin exposure against the earnings volatility created by impairment accounting.

In July, the company approves a 10-for-1 reverse stock split aimed at widening its institutional investor base. Shareholders also approve up to 120 billion dollars in financing capacity in June, including equity and credit instruments, to back Capital B's ongoing Bitcoin accumulation strategy.

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