Capital B reports that the $78 million loss in H1 was due to the cost of the devaluation of Bitcoin

Europe's second largest bitcoin treasury raised $30 million in the first half of 2026, increasing its bitcoin holdings by 11%, despite reporting a $75 million bitcoin loss.

The French-listed bitcoin investment firm reported a net loss of €69.5 million ($78 million) for the first half of 2026, driven by a $75.8 million impairment charge on bitcoin.

According to the company's first-half 2026 report released Thursday, the decline in the value of Bitcoin (BTC) through June 30 reflected the price of Bitcoin (BTC) and had no direct cash impact.

However, Capital B's consolidated revenue rose 3.5% year-over-year to $6.5 million, while adjusted EBITDA was negative $1.2 million. EBITDA measures a company's earnings before interest, taxes, depreciation and amortization.

The results show that the European Bitcoin Treasury Company continues to raise funds to support its Bitcoin resources despite accounting losses. Capital B announced that it raised a total of $30 million in capital in the first half of the year and increased its bitcoin holdings by 11% from 2,823 BTC in January to 3,139 BTC by the end of June.

The company's total holdings subsequently reached 3,538 bitcoins as of September 30, representing a 25% increase from the beginning of the year. Capital B's treasury is currently worth $290 million, ranking it as the 25th largest corporate bitcoin treasury in the world and Europe's second largest by assets, behind Germany-based Bitcoin Group, according to Bitcoin Treasury.

Capital B shares rose 0.5 percent in morning trading Friday, but were down 25 percent year-to-date, according to Yahoo Finance.

In July, Capital B approved a 10-for-1 reverse stock split aimed at expanding its institutional investor base. In June, its shareholders approved up to $120 billion in financing capacity, including equity and credit instruments, to support the company's Bitcoin accumulation strategy.