Datavault AI Says Bitcoin (BTC) Accounting Change Would Reduce Reported Assets

Datavault AI said its audit committee and management decided Oct. 20 that four sets of financial statements were no longer reliable after a Bitcoin (BTC) accounting review pointed to reported-asset reductions of up to $92.2 million.

The decision applies to periods ending Sept. 30 and Dec. 31, 2025, and March 31 and June 30, 2026. Datavault said Bitcoin from its transaction with Scilex should be treated as a subscription receivable instead of a digital asset held by the company.

The preliminary, unaudited estimates put the reductions at $8.1 million as of Sept. 30, 2025; $92.2 million as of Dec. 31, 2025; $57.1 million as of March 31, 2026; and $49.0 million as of June 30, 2026.

Bitcoin came from a September 2025 Scilex transaction, under which Scilex agreed to pay $150 million for 15 million Datavault shares and a pre-funded warrant for 263,914,094 additional shares. The filing valued the consideration at approximately 1,328.43 BTC.

The dollar figures are estimated adjustments to reported total assets at each date, not quarter-to-quarter declines. Datavault has not set a timetable for filing revised statements.