Nakamoto’s Shares Plummet After $239M Loss, Despite Bitcoin Holdings
- NAKA shares fell over 4% to a new low of $0.16 before slightly recovering to $0.166, marking a decline of more than 99.5% from their peak of $34.77.
- The company reported a net loss of nearly $239 million.
- Nakamoto maintains a Bitcoin treasury exceeding 5,000 BTC, valued at over $404 million.
- Revenues for the quarter were approximately $2.7 million, with $1.1 million generated from derivatives strategies.
- The firm sold off about $22 million in Bitcoin holdings to support working capital requirements.
Nakamoto’s stock experienced significant volatility following the announcement of substantial financial losses and strategic sales of Bitcoin. Despite these challenges, the company continues to hold a significant amount of Bitcoin in its treasury.
The company’s current focus is on scaling operations and expanding revenue opportunities while maintaining long-term confidence in Bitcoin. (Source)
