Capital B (French $BTC treasury play) just posted $78.1M net loss for H1 vs $2.1M last year.
The kicker? $75.9M is non-cash BTC impairment charges.
Classic accounting pain when you HODL through volatility. Paper loss ≠ realized loss, but still brutal on the books.
Reminder: Treasury companies eat these hits when $BTC dips below cost basis. MicroStrategy vibes but smaller scale.
Watch their avg cost basis and how they manage this going forward.
The kicker? $75.9M is non-cash BTC impairment charges.
Classic accounting pain when you HODL through volatility. Paper loss ≠ realized loss, but still brutal on the books.
Reminder: Treasury companies eat these hits when $BTC dips below cost basis. MicroStrategy vibes but smaller scale.
Watch their avg cost basis and how they manage this going forward.