Datavault AI Stock Plunges 50% as Bitcoin Withdrawal Stalls

Shares touched $0.060, matching their 52-week low and far below a high of $3.78, leaving the company with a market value near $65 million. Bitcoin treasury company Datavault AI has disclosed that it has been unable to withdraw BTC held by crypto exchange Biconomy since requesting a transfer in June. The revelation saw the company’s shares fall nearly 50% in the latest trading session. Biconomy Withdrawal Failure Sends DVLT Shares Lower According to a Form 8-K that Datavault filed on October 26 with the SEC, it received $150 million in Bitcoin from Scilex on September 25, 2025, as payment for an equity purchase agreement, with each unit valued at about $112,915 at the time, bringing the total number of BTC used in the transaction to around 1,328. However, the actual number sent to Datavault’s Biconomy account was 1,309.04 BTC, after 19.39 BTC was subtracted to account for cash advances Scilex had made to the company. It then transferred 491.431 BTC back to Scilex in September 2025 and January 2026 in exchange for about $40.5 million in cash, with the remaining cryptocurrency kept in the digital wallet maintained at Biconomy. Interestingly, Datavault says all the transactions were ma...