Nasdaq healthcare company promised Bitcoin would safeguard its future – then sold every coin to stay afloat
OneMedNet’s Bitcoin treasury fell to zero by June 30, 2026, after a gradual unwind from an announced allocation of about 34 BTC in late 2024. The company reported $358,000 in cash, $1.31 million in current assets, $4.73 million in current liabilities, and a $3.41 million working-capital deficit. It used $3.42 million in operating cash in the first half of 2026 and posted a $4.63 million net loss, leading management to warn of substantial doubt about its ability to continue as a going concern. The filings show Bitcoin sale proceeds over time, but do not tie specific proceeds to specific operating expenses. The latest report still frames sales as part of the Bitcoin strategy, so the policy’s status is unclear even though the balance reached zero. Financing supplied $2.78 million in the first half, and the company later raised $1 million via a related-party share sale. A new Yorkville equity facility could provide up to $25 million more, but only through further dilution.
