Nasdaq-Listed Bitcoin Firm Nakamoto Sells BTC, Cuts Debt and Authorizes Share Buyback
Nakamoto Inc. sold about 600 Bitcoin and related derivatives to strengthen its balance sheet, using roughly $48 million in proceeds to cut $45 million of debt and refinance remaining obligations. Under a revised Kraken loan agreement, about 105 million USDT of principal was extended to June 2027, while 60 million USDT matures in December 2026. The new terms can lower interest to as little as 7.75% if Nakamoto keeps at least 2,000 Bitcoin as collateral, and should reduce annual interest expense by about $4 million. The company also authorized a $25 million share buyback. After the transactions, Nakamoto holds about 4,467 Bitcoin, worth roughly $284 million. It also regained Nasdaq compliance with the $1 minimum bid rule. Shares rose more than 9.5% on the day but remain sharply lower over the past month and year.
