Nakamoto reported third-quarter business revenue of $3.9 million. A $5.8 million net loss on Bitcoin options brought total operating revenue to negative $1.9 million, according to its filing. Analysts had expected about $17.4 million in revenue, according to estimates compiled by Yahoo Finance.
The company reported $85.5 million in net income, driven by a $110.4 million gain from revaluing digital assets, chiefly Bitcoin. Its adjusted operating loss, which excludes that gain, was $15.8 million. Nakamoto held 4,283 BTC worth $357.9 million as of Sept. 30, down from 4,467 BTC at the end of June. Its shares traded at $5.40 at 12:02 pm UTC on Friday, down about 62% year to date, according to Yahoo Finance.
