Nakamoto shares fall 6% premarket after Q3 revenue turns negative
Summary
Nakamoto shares fell 6.5% in premarket trading after the Bitcoin treasury company reported negative third-quarter operating revenue. Its businesses generated $3.9 million, but a $5.8 million loss on Bitcoin options pulled operating revenue to negative $1.9 million, far below analyst expectations of $17.4 million. The company posted $85.5 million in net income, driven by a $110.4 million gain from revaluing digital assets, while its adjusted operating loss was $15.8 million. Nakamoto held 4,283 BTC worth $357.9 million at quarter-end, down from 4,467 BTC in June. Its shares were down about 62% year to date.
