Capital B posts €69.5M first-half loss after Bitcoin writedown
- —Noncash BTC impairment of about €67.5 million; loss widened from €1.9 million a year earlier
- —Reserve grew from 2,823 BTC in January to 3,139 BTC on June 30 and 3,538 BTC by September 30
- —Average acquisition cost was €87,805 per BTC, for a total reserve cost of €310.6 million
- —Company raised about €27.5 million in H1 and a further €31.7 million after the period
Why it matters: The results show how Bitcoin price declines hit earnings at listed treasury companies even as they keep expanding reserves through fresh capital raises.
Source: Bitcoin Insider