Nakamoto Shares Hit All-Time Low After Q1 Net Loss of $239M, Still Holds 5,000+ BTC
Shares of Nakamoto (NAKA), a medical firm turned Bitcoin treasury company, hit a new all-time low on Thursday after reporting a Q1 net loss of nearly $239 million, primarily due to the decline in Bitcoin prices. The stock fell over 4% at the opening bell, reaching a low of $0.16 before recovering slightly to around $0.166, down more than 99.5% from its 52-week high of $34.77. CEO David Bailey described the quarter as a transformational period as the company formally transitioned into a Bitcoin operating company. Revenues were about $2.7 million, with 41% from an actively managed derivatives strategy. The firm sold 284 BTC ($22 million) for working capital and another 40 BTC ($3.2 million) from premium income. Despite the losses, Nakamoto still maintains a Bitcoin treasury of over 5,000 BTC, valued at over $404 million, even as BTC trades 35.8% below its all-time high. The company plans to focus on scaling operations and disciplined capital allocation for the remainder of 2026.
Key facts
- NAKA shares hit all-time low of $0.16, down over 99.5% from 52-week high.
- Q1 net loss of $239 million due to Bitcoin price decline.
- Company sold 284 BTC for working capital and 40 BTC from premiums.
- Still holds over 5,000 BTC, valued at over $404 million.
- Revenue $2.7 million, 41% from derivatives strategy.