Bitcoin treasury Nakamoto plans reverse stock split to save ailing share price
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- Nakamoto shareholders approved a reverse‑split range of 1‑for‑20 to 1‑for‑50 at a May 8 special meeting, with the split slated for the following Friday.
- Nakamoto reported Q1 revenue up 500% QoQ but a $238.8 million net loss, of which $102 million stemmed from a $5,058‑Bitcoin mark‑to‑market loss after BTC fell 23% in the quarter.
- Nakamoto sold 284 Bitcoin on March 31 to fund operations and did not purchase any new BTC during the quarter, leaving it with 5,058 BTC and ranking 20th among Bitcoin‑treasury firms.
- Strategy holds more than 843,000 BTC, making it the largest Bitcoin‑treasury company.
- The Genius Group liquidated its entire 84‑BTC treasury in February to service debt, showing how some firms are tapping Bitcoin assets to meet obligations.
Why it matters: Investors in Nakamoto gain a higher per‑share price from the reverse split, while the $239 M loss and Bitcoin‑price exposure erode equity value, pressuring shareholders and potential creditors.
