Capital B Reports €69.5M Loss Amid Bitcoin Impairment Charge
- Capital B reported a net loss of €69.5 million ($78 million) for the first half of the year.
- The loss was primarily due to a Bitcoin impairment charge of $75.8 million, reflecting BTC prices as of June 30.
- Despite losses, consolidated revenue increased by 3.5% year-over-year to $6.5 million.
- Capital B raised $30 million in capital and increased its Bitcoin holdings by 11%, totaling over 3,500 BTC by September.
- The company’s treasury is valued at approximately $290 million, making it the world’s 25th-largest corporate Bitcoin treasury.
Capital B’s financial results reflect ongoing challenges in the cryptocurrency market, particularly with Bitcoin volatility impacting asset valuations significantly.
The firm’s stock price rose by only about half a percent but remains down by approximately 25% year-to-date, highlighting investor concerns amid these losses.
