Capital B Posts $78 Million First-Half Net Loss on Bitcoin Weakness
Uk Jin
Summary
- Capital B said it posted a net loss of about $78 million in the first half of this year, with mark-to-market losses on its Bitcoin holdings reaching about $75.8 million.
- Capital B raised about $30 million in the first half and increased its Bitcoin holdings by about 11% from 2,823 to 3,139.
- Capital B continued buying Bitcoin afterward, bringing its holdings to 3,538 as of the end of September.
Forecast Trend Report by Period
Capital B, a French company that holds Bitcoin as a treasury reserve asset, posted a net loss of about $78 million in the first half of the year.
Cointelegraph reported on Oct. 16 that the company posted a first-half net loss of 69.5 million euros, or about $78 million. Of that total, about $75.8 million came from mark-to-market losses on its Bitcoin holdings.
Despite the weaker results, Capital B continued buying Bitcoin. The company raised about $30 million in the first half and increased its Bitcoin holdings by about 11% to 3,139 at the end of June from 2,823 at the start of the year.
It kept adding to its holdings afterward, bringing the total to 3,538 as of the end of September.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.