Nakamoto Inc sold roughly 600 BTC and related derivatives, generating $48 million in net proceeds. The company then used $45 million of that amount to pay down debt, making the move one of the clearer Bitcoin treasury deleveraging actions seen this year.
Bitcoin holdings fall to 4,467 BTC after targeted sale
After the transaction, Nakamoto still held 4,467 BTC on its balance sheet. Using the price range cited in the report, around $63,000 to $64,000, those holdings are worth about $280 million to $290 million. The sale represented roughly 12% of the company’s previous Bitcoin position, indicating a selective reduction rather than a full retreat from its treasury strategy.
The company also reworked its debt profile. Its remaining $165 million USDT loan with Kraken was refinanced at a new rate of 7.75%, down from about 8%. Within that facility, $105 million now runs through June 2027. Nakamoto said the refinancing is expected to save about $4 million in annual interest expense.
Buyback approval arrives with Nasdaq compliance recovery
Alongside the debt reduction, the board approved a $25 million share repurchase program that will remain active through the end of the year. The authorization adds a second capital allocation signal: the company is trimming leverage while also setting aside room to buy back stock.
Nakamoto also regained compliance with Nasdaq’s minimum bid price requirement, removing the delisting risk that had been overhanging the stock. On the announcement, NAKA shares jumped roughly 20% intraday to $2.96 before cooling off. The stock later closed up 9.5% at about $4.47, versus a previous close near $4.08. Even so, shares remain far below their 2025 pre-split adjusted high above $34.
Business mix extends beyond Bitcoin holdings
Nakamoto is not solely a corporate Bitcoin holder. It owns BTC Inc., the operator of Bitcoin Magazine and The Bitcoin Conference, and it also controls asset management arm UTXO Management. The company went public in 2025 through a SPAC reverse merger and has faced significant dilution since then.
The report also noted that CEO David Bailey has been buying shares personally. On the market side, the article described corporate Bitcoin sales of this size as a source of minor selling pressure, but not something large enough to move the broader market in a meaningful way. At the time cited, Bitcoin was trading at $63,644.94, up 1.79% over 24 hours, with a market capitalization of $1.27 trillion and 24-hour trading volume of $28.59 billion.