Capital B Posts $78M Loss as Bitcoin Impairment Outweighs Revenue

The impairment charge reflects the valuation of the company’s Bitcoin holdings as of June 30 and does not represent a cash outflow or a sale of assets. While the bottom line suffered, the company’s core technology business showed resilience, with its data intelligence and consulting subsidiaries reporting a positive adjusted operating EBITDA of approximately €640,000, a 9.8% increase from the previous year. Consolidated revenue also saw a modest rise of 3.5%, reaching €5.85 million.

Capital B continues to prioritize its Bitcoin treasury strategy, scaling its holdings from 2,823 BTC in January to 3,538 BTC by the end of September. This expansion has been fueled by a series of capital raises, including private placements involving institutional investors like Blockstream co-founder Adam Back. As of late September, the company held its Bitcoin at an average acquisition cost of €87,805 per coin. To support its ongoing treasury operations and attract institutional interest, the company also implemented a 10-for-1 reverse stock split on September 8.