Nakamoto Inc. Sells 600 Bitcoin for $48M to Reduce Debt, Authorizes $25M Share Buyback

Jun 11, 2026

Nakamoto Inc. sold 600 Bitcoin for $48 million to reduce its debt, using the funds to pay down $45 million of a loan from Kraken. The firm also refinanced its remaining debt and authorized a $25 million share buyback. The move, which sent NAKA stock up 20%, comes amid market volatility and a trend of corporate Bitcoin holders deleveraging their balance sheets.

Nakamoto Bitcoin treasury liquidation

▪For the first quarter of 2026, Nakamoto Inc. posted a net loss of $238.8 million, including a $102.5 million mark-to-market loss on its Bitcoin.
▪Nakamoto Inc. is a Nashville-based company that operates a Bitcoin treasury and publishes Bitcoin Magazine.
▪The company used $45 million of the proceeds to repay a portion of its loan with the crypto exchange Kraken.
▪Following the transactions, Nakamoto Inc. holds approximately 4,467 Bitcoin on its balance sheet.
▪Nakamoto Inc. sold approximately 600 Bitcoin and related derivatives, generating about $48 million in net proceeds.

Kraken loan refinancing terms

▪Nakamoto Inc. refinanced its remaining 165 million USDT loan with Kraken, which was reduced from 210 million USDT.
▪Under the new agreement, 60 million USDT of the loan matures on December 4, 2026, and 105 million USDT matures on June 30, 2027.
▪The loan's interest rate can be reduced from 8.0% to 7.75% if Nakamoto maintains a collateral floor of 2,000 Bitcoin.
▪Nakamoto expects the debt restructuring to reduce its annual financing costs by approximately $4 million.

Share buyback authorization

▪Nakamoto's Board of Directors authorized a share repurchase program for up to $25 million of its common stock.
▪The share buyback program, designated the 2026 Repurchase Program, runs through December 31, 2026.

Nasdaq compliance restoration

▪Following the financial restructuring news, Nakamoto's stock (NAKA) jumped as much as 20% intraday.
▪On June 9, 2026, Nakamoto Inc. regained compliance with Nasdaq's minimum $1.00 bid price requirement.
▪The company regained compliance after conducting a 1-for-40 reverse stock split in late May 2026 to raise its share price.

Corporate Bitcoin deleveraging trend

▪Nakamoto's actions are part of a trend of companies with Bitcoin treasuries selling assets to reduce debt amid market volatility.
▪Genius Group also recently liquidated its entire Bitcoin holdings to repay its creditors.
▪In a similar move, Fold Holdings sold 634 Bitcoin for $45 million to eliminate its secured crypto debt.
▪Bitcoin's price fell more than 21% over the last month, dropping below $60,000 in early June 2026 for the first time since 2024.