Capital B reported a net loss of 69.5 million euros, or about $78 million, for the first half of 2026 after recording a $75.8 million impairment charge on its Bitcoin holdings. The France-listed company said the charge reflected Bitcoin’s price on June 30 and did not directly reduce cash.
Losses and operating performance
The impairment charge was the main driver of Capital B’s first-half result, according to the company’s report published Thursday and reporting by Cointelegraph. An impairment is an accounting adjustment that reduces the stated value of an asset when its recorded value is judged to have fallen. In this case, the adjustment was linked to the market value of Bitcoin held by the company at the end of June.
Capital B said the charge had no direct cash impact. That distinction means the reported loss reflected an accounting valuation change rather than a cash payment of $75.8 million by the company.
Despite the loss, consolidated revenue increased 3.5% year over year to $6.5 million. Adjusted EBITDA was negative $1.2 million. EBITDA refers to earnings before interest, taxes, depreciation and amortization, while adjusted EBITDA is a company-selected version that excludes specified items from the calculation.
Bitcoin holdings continued to grow
Capital B raised $30 million during the first six months of 2026 and used its fundraising strategy to support further Bitcoin accumulation. Its holdings rose 11%, from 2,823 BTC in January to 3,139 BTC at the end of June.
The company’s Bitcoin holdings later reached 3,538 BTC on Sept. 30, representing a 25% increase from the beginning of the year. Its treasury was valued at $290 million at that point, according to the source material.
That holding size placed Capital B as the world’s 25th-largest corporate Bitcoin treasury and Europe’s second-largest, behind Germany-based Bitcoin Group, according to Bitcointreasuries.
Financing and share-market context
Capital B’s shareholders approved up to $120 billion in financing capacity in June, covering equity and credit instruments intended to support the company’s Bitcoin accumulation strategy. In July, the company approved a 10-for-1 reverse stock split, a measure aimed at broadening its institutional investor base.
The company’s stock rose 0.5% in early trading on Friday but remained down 25% year to date, according to Yahoo Finance. The figures highlight the different ways investors may assess a Bitcoin treasury company: through its accounting results, fundraising capacity, Bitcoin holdings and share-market performance.
Current market picture
Moneyiar market data at 21:44 on Oct. 17, 2026, showed Bitcoin at $80,927.339793682, down 0.84% over 24 hours and 2.5% over seven days. CAP was priced at $0.0737389388, up 2.21% over 24 hours but down 19.9% over seven days. The supplied data identifies CAP as a separate market asset and does not establish that it is Capital B’s stock.
