Nasdaq-Listed Bitcoin Firm Nakamoto Sells BTC, Cuts Debt and Authorizes Share Buyback
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- Nakamoto Inc. sold roughly 600 BTC and related derivative positions, generating about $48 million in net proceeds to fund debt paydown.
- Nakamoto Inc. reduced outstanding debt by $45 million and extended $105 million USDT of principal to June 2027, cutting annual interest expense by roughly $4 million.
- Nakamoto Inc. authorized a $25 million share buyback program, and its NAKA shares rose nearly 10% on the announcement day.
- Kraken serves as Nakamoto’s lender, offering a new loan term sheet with a 7.75% annual interest rate contingent on a collateral floor of 2,000 BTC.
- Bitcoin fell more than 21% over the past month, dropping below $60,000, a volatility the company cites as reinforcing disciplined balance‑sheet management.
- Nakamoto Inc. holds about 4,467 BTC valued at roughly $284 million after the sale and regained Nasdaq compliance with the $1 minimum bid price after a 1‑for‑40 stock split.
Why it matters: The debt reduction and lower‑interest loan improve Nakamoto’s balance‑sheet flexibility, benefiting shareholders by supporting a near‑10% share‑price rise, while the $25 million buyback signals confidence despite a 21% Bitcoin price drop that has pressured the firm’s asset values. It also restores Nasdaq compliance, reducing the risk of delisting for the company and its investors.
