TLDR
- Capital B reported a net loss of 69.5 million euros ($78 million) for the first half of 2026.
- A Bitcoin impairment charge of about $75.9 million drove most of the loss and had no cash impact.
- Revenue rose 3.5% to 5.8 million euros ($6.5 million).
- Bitcoin holdings reached 3,538 by Sept. 30, up 25% since January.
- The stock is down 25% so far this year.
French Bitcoin treasury firm Capital B reported a net loss of 69.5 million euros ($78 million) for the first half of 2026. The company released its results on Thursday.
🟠 Capital B reports its results for the first half of 2026⚡️
Full Press Release (EN): https://t.co/O8BfzAosBF
Full Press Release (FR): https://t.co/bR2mK8nVsA
BTC Strategy And Detailed Presentation: https://t.co/ge0iQBUZaE
Financial Report (EN): https://t.co/gMAMyB1ccc… pic.twitter.com/gcU1fqFDGf
— Capital B (@_ALCPB) October 15, 2026
Most of the loss came from a Bitcoin impairment charge of about $75.9 million. The charge is based on Bitcoin’s price on June 30.
The company said the charge had no cash impact. A year earlier, its net loss was 1.9 million euros ($2.1 million).
Revenue and earnings
Revenue rose 3.5% from a year earlier to 5.8 million euros ($6.5 million). The same period in 2025 brought in 5.6 million euros.
Adjusted EBITDA was negative $1.2 million. EBITDA measures earnings before interest, taxes, depreciation and amortization.
Capital B was formerly known as The Blockchain Group. It rebranded in July 2025 to focus on its Bitcoin treasury strategy.
Bitcoin holdings keep growing
The company raised $30 million in the first half of the year. Its Bitcoin holdings rose 11%, from 2,823 in January to 3,139 by the end of June.
Holdings reached 3,538 Bitcoin by Sept. 30. That is a 25% increase since the start of the year.
Capital B paid a total of 310.6 million euros ($349.4 million) for its Bitcoin. That averages about $98,768 per coin.
The company reported a Bitcoin yield of 2.2% for the first nine months of the year. The measure tracks the change in Bitcoin holdings per fully diluted share.
It raised another 31.7 million euros ($35.6 million) between July 1 and Oct. 15. In September, it bought 376 Bitcoin for 25.3 million euros ($28.4 million).
That was its largest purchase of the year. It was funded partly by investors, including Blockstream CEO Adam Back.
Capital B’s treasury is worth about $290 million. That makes it the 25th-largest corporate Bitcoin treasury and the second-largest in Europe, behind Germany-based Bitcoin Group, according to Bitcointreasuries.
In June, shareholders approved up to $120 billion in financing capacity, including equity and credit instruments. In July, the company approved a 10-for-1 reverse stock split to broaden its institutional investor base.
Capital B shares rose 0.5% in early trading on Friday. The stock is down 25% so far this year, according to Yahoo Finance.
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