Datavault AI Says It Can’t Access Its Bitcoin Holdings

Crypto treasury firm Datavault AI (NASDAQ: $DVLT) says it is unable to access a large portion of its Bitcoin (CRYPTO: $BTC) holdings following a failed transaction.  

In a regulatory filing, Datavault AI said that it has been unable to withdraw Bitcoin from crypto exchange Biconomy since June of this year and would have to restate its financial results.

The problem dates back to a September 2025 agreement with Scilex Holding Company, which agreed to purchase $150 million U.S. of Datavault shares and warrants using Bitcoin.

Scilex credited 1,309.04 BTC to Datavault AI’s account at Biconomy through off-chain transfers. Datavault subsequently sold 491.4 BTC back to Scilex for about $40.5 million U.S. in cash.

But the transfer could not be completed when it requested a withdrawal to an external account in June, the company said. The transaction remains incomplete to this day.

The situation has not only tied up Datavault AI’s Bitcoin and led to it restating its financial results, but it is also expected to reduce the company’s reported assets by $92.2 million U.S. 

Datavault AI had counted those Bitcoin balances as money it could draw on to keep the business running, but must now revisit the assessment, it said in the regulatory filing

DVLT stock plunged 50% on Oct. 27 after news broke that the company is unable to access a portion of its Bitcoin. 

Datavault AI’s stock is down 98% over the past 12 months and trading at $0.067 U.S. per share.