Publicly traded Bitcoin treasury firm Nakamoto (NAKA) has announced a 1-for-40 reverse stock split following shareholder approval, aiming to boost its share price to at least $1.00 to comply with Nasdaq's minimum bid price requirement. The stock recently hit an all-time low of $0.145, down over 99.5% from its 52-week high of $34.77. The move comes after the firm reported a Q1 loss of approximately $239 million, largely due to Bitcoin's price decline. The reverse split will reduce outstanding shares from 696.1 million to 17.4 million, effective May 22. Despite holding over 5,000 BTC valued at more than $388 million, Nakamoto has sold part of its Bitcoin treasury in the last two quarters, including $22 million in Q1. Bitcoin recently traded around $77,927, up 1.6% in 24 hours but still 38% below its all-time high.

Key facts

• 1-for-40 reverse stock split to boost NAKA share price above $1.00.
• Shares hit all-time low of $0.145, down 99.5% from 52-week high.
• Q1 loss of $239 million due to Bitcoin price decline.
• Outstanding shares to reduce from 696.1M to 17.4M.
• Firm holds over 5,000 BTC but sold $22M in Q1.

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