Nakamoto reported $85.5 million in third-quarter net income, driven by a $110.4 million gain from revaluing its digital assets, chiefly Bitcoin. Excluding that gain, it reported a $15.8 million adjusted operating loss.
Its businesses generated $3.9 million in revenue. A $5.8 million net loss on Bitcoin options brought total operating revenue to negative $1.9 million, compared with analysts’ estimates of about $17.4 million in revenue, according to Yahoo Finance. Nakamoto held 4,283 BTC worth $357.9 million as of Sept. 30, down from 4,467 BTC at the end of June.
