INTEL: Datavault AI stock falls nearly 50% as 817.6 bitcoin stays stuck on Biconomy
Datavault AI (Nasdaq: DVLT) shares fell nearly 50% after the company said it has been unable to withdraw 817.6 bitcoin held at the Biconomy crypto exchange since June. The stock dropped 49.55% over 24 hours, according to market data cited in circulating reports.
The company told investors that its entire treasury reserves sit on Biconomy. It said it has submitted transfer and withdrawal requests for four months but has not been able to move any BTC off the platform.
Where the bitcoin came from
The coins trace back to a September 2025 equity deal with Scilex Holding. Under that agreement, Scilex agreed to buy Datavault shares and warrants for $150 million, payable in BTC. The bitcoin was credited to Datavault’s Biconomy wallet through an offchain transfer.
Restatement and going-concern review
Datavault said it will restate its financials after an accounting correction reduced its year-end 2025 assets by $92.2 million. It also said it will reassess whether it can continue as a going concern.
The disclosures leave the company’s bitcoin treasury inaccessible while its earlier reported asset figures are being revised.
