Capital B Posts $78M Half Year Loss as Bitcoin Impairment Weighs on Results

French listed Bitcoin treasury firm Capital B reported a net loss of 69.5 million euros, about $78 million, for the first six months of 2026. Most of it came from a $75.8 million impairment on its Bitcoin, which was based on the price on June 30 and did not affect cash. Revenue still grew 3.5% from a year earlier to $6.5 million, though adjusted EBITDA stayed negative at $1.2 million.

Bitcoin Holdings Keep Growing

The company raised $30 million during the half and lifted its holdings by 11%, from 2,823 BTC in January to 3,139 BTC by the end of June. By Sept. 30 the total had reached 3,538 BTC, a 25% gain since the start of the year. That stash is worth about $290 million, making Capital B the 25th largest corporate Bitcoin treasury worldwide and the second largest in Europe behind Germany based Bitcoin Group.

Capital B Stock Price and Financing Plans

Shares rose 0.6% in early Friday trading but remain down 25% for the year. In July, the company approved a 10 for 1 reverse stock split meant to widen its institutional investor base. In June, shareholders backed financing capacity of up to $120 billion, covering equity and credit instruments, to support its Bitcoin buying strategy.