Nasdaq-listed Datavault AI has been trying since June to move its Bitcoin off the Biconomy exchange, and the company now says it has been unable to complete the withdrawal. The Form 8-K filed on Oct. 26 does not explain what is holding it up. Shares fell 49.55% to $0.067 on Oct. 27.

The coins came from a September 2025 deal in which Scilex Holding paid $150 million in Bitcoin for Datavault stock. Scilex credited 1,309.04 BTC to Datavault's Biconomy account through off-chain balance changes, and Datavault later sold 491.431 BTC back to Scilex for about $40.5 million in cash.

Datavault will restate four financial reports, cutting reported total assets by up to $92.2 million.

The company concluded the Bitcoin never qualified as its own digital asset and will book it as a subscription receivable instead. Because it had counted the BTC as a source of liquidity, management is reassessing its going-concern status and says collection of the amounts Scilex owes is uncertain.