Capital B Reports €69.5M Loss Due to 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 rose by 3.5% year-over-year to $6.5 million.
- Bitcoin holdings increased by 11% from January to June, reaching a total of 3,139 BTC.
- As of September, Capital B’s total Bitcoin holdings grew to approximately $290 million, ranking it as the world’s 25th-largest corporate Bitcoin treasury.
Capital B’s financial results illustrate its ongoing strategy to accumulate Bitcoin despite accounting losses and significant impairment charges. The firm raised $30 million in capital during the first half of the year to support its operations and expansion.
The company’s stock price rose by only about half a percent recently but remains down by approximately 25% year-to-date. (Source)
