CapitalB just posted a $78M net loss for H1 2026.
The kicker? $75.8M was a $BTC impairment charge—purely accounting, zero cash impact.
This is the game treasury companies play: $BTC dumps on the balance sheet date (June 30), books get hammered, but no actual cash left the building.
Price volatility = earnings volatility for corporate hodlers, even when they're not selling a single sat.
If you're tracking Bitcoin treasury plays, remember: impairment charges ≠ realized losses. Just optics for the quarterly report.
The kicker? $75.8M was a $BTC impairment charge—purely accounting, zero cash impact.
This is the game treasury companies play: $BTC dumps on the balance sheet date (June 30), books get hammered, but no actual cash left the building.
Price volatility = earnings volatility for corporate hodlers, even when they're not selling a single sat.
If you're tracking Bitcoin treasury plays, remember: impairment charges ≠ realized losses. Just optics for the quarterly report.