
This Nasdaq-listed Bitcoin treasury diluted shareholders 18-fold to survive a $212 million crypto loss without selling its stash
The 7,500-BTC holder’s filing separates a noncash crypto loss from equity sales that supported its operating runway.
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A $7.38 million working-capital deficit leaves the treasury holder dependent on new funding despite its 1,145.4 BTC reserve.

KULR bought no Bitcoin in the first half of 2026, sold 333 BTC after June, and now allows its remaining holdings to fund corporate priorities.

Card growth lifted total revenue, but trading volume fell about 66% and year-over-year operating costs remained elevated.

Transaction volume reached $5.3 billion, yet adjusted EBITDA swung to a $5.5 million loss as fewer integrations were completed.

Nearly all of Morgan Stanley's Bitcoin ETF operating-period decline was unrealized as gross share contributions reached $371.1 million.

Bit Digital pledged $105.6 million of staked Ethereum to Galaxy, putting part of its AI funding strategy on a 24-hour collateral clock.



