Bitcoin Firm Nakamoto's Stock Hits New Low After Posting $239M Loss, Selling More BTC
Nakamoto (NAKA), a company that shifted focus from medical operations to Bitcoin treasury management, reported a net loss of nearly $239 million in Q1, driven by declining Bitcoin prices. Following the earnings report, shares hit a record low of $0.16, representing a drop of over 99.5% from their 52-week high. Q1 revenue was about $2.7 million, with $1.1 million generated from an active derivatives strategy. The company sold 284 BTC (about $22 million) and an additional 40 BTC ($3.2 million) earned from premiums to support working capital. Despite these sales, Nakamoto retains a treasury of over 5,000 BTC, valued above $400 million. The company remains focused on scaling operations and generating shareholder value via Bitcoin and active treasury management, while Bitcoin trades approximately 35.8% below its all-time high.
