TL;DR Capital B reported a net loss of $78.1 million in the first half of 2026, compared with $2.1 million in the same period a year earlier. The company attributed $75.9 million of the loss
TL;DR
Capital B reported a net loss of $78.1 million in the first half of 2026, compared with $2.1 million in the same period a year earlier.
The company attributed $75.9 million of the loss to a non-cash accounting impairment related to the decline in Bitcoin’s value.
Capital B increased its reserves to 3,538 BTC by the end of September and raised approximately $66.5 million through capital increases during 2026.
French company Capital B reported a net loss of €69.5 million ($78.1 million) in the first half of 2026, compared with a loss of €1.9 million ($2.1 million) in the same period a year earlier.
According to its half-year financial results, approximately €67.5 million ($75.9 million) came from an additional accounting impairment of its Bitcoin reserves, calculated using BTC’s price as of June 30.
The company clarified that the adjustment had no impact on its cash holdings.
Operating revenue increased 3.5% year over year, from €5.6 million to €5.8 million ($6.5 million).
Despite the accounting losses, Capital B continued expanding its Bitcoin reserves throughout 2026.
As of September 30, the company held 3,538 BTC, an increase of 25.3% from the 2,823 BTC recorded in January.
The total acquisition cost of these reserves reached €310.6 million ($349.4 million), equivalent to an average purchase price of €87,805 ($98,768) per Bitcoin.
Capital B also reported a BTC yield of 2.2% for the first nine months of the year. This metric measures the percentage change in Bitcoin holdings per fully diluted share.
In September, the company made its largest BTC purchase of the year, acquiring 376 Bitcoin for €25.3 million ($28.4 million).
To finance its Bitcoin accumulation, Capital B announced capital raises totaling €27.5 million ($30.9 million) during the first half of the year.
Between July 1 and October 15, the company raised another €31.7 million ($35.6 million), according to its financial report.
Combined, the two amounts represent €59.2 million ($66.5 million) to support its operations and Bitcoin acquisition strategy.
Investors who participated in the recent capital raises include Adam Back, CEO of Blockstream.
Capital B, formerly known as The Blockchain Group, adopted its current name in July 2025, when it shifted its focus toward accumulating Bitcoin as a treasury asset.
