Datavault AI Stock Jumps 31% Even as Its Bitcoin Sits Stuck at Biconomy
By Unchained
AI summary of the source article
Datavault AI stated in an 8-K filing that it cannot withdraw its bitcoin from Biconomy and will restate four financial statements, removing all reported bitcoin. The change will cut total assets by $92.2 million at year-end 2025.
Why it matters
Management is reassessing its going concern evaluation because “the collection of amounts owed by Scilex is uncertain.”
Key facts
- Datavault AI requested in June to move bitcoin from its Biconomy wallet to an external account but has been unable to complete the withdrawal.
- The company will restate financial statements for Q3 2025, full-year 2025, and the first two quarters of 2026, removing all reported bitcoin.
- The accounting change is expected to reduce Datavault's total assets by $92.2 million at Dec. 31, 2025, and by $49.0 million at June 30, 2026.
Source excerpt · Unchained
Its restatement takes every reported bitcoin off the books, including 837 BTC Scilex agreed to buy in June. No definitive deal has been disclosed. The post Datavault AI Stock Jumps 31% Even as Its Bitcoin Sits Stuck at Biconomy appeared first on Unchained .