Nakamoto reports first positive adjusted operating income while posting a $133 million GAAP net loss

Nakamoto Inc. released its quarterly results for the period ended June 30, 2026, showing a split picture between statutory losses and adjusted operating performance. The Nashville-based Bitcoin operating company reported $35.9 million in total operating revenue, with $25.6 million coming from its media and asset management businesses and $10.4 million from its Bitcoin treasury and derivatives strategy. On a GAAP basis, the company posted a $149.1 million operating loss and a $133.0 million net loss, or $6.65 per diluted share, driven largely by a $105.2 million non-cash goodwill impairment and $48.7 million in mark-to-market losses on Bitcoin holdings. Excluding those non-cash items, adjusted operating income reached $7.3 million, which the company said was its first positive adjusted operating income since becoming a Bitcoin operating company. During the quarter, Nakamoto also closed its legacy healthcare clinics, authorized a $25 million share repurchase, added Chief Investment Officer Tyler Evans to its board, and ended the quarter with 4,467 BTC valued at about $261.5 million.