Nakamoto sells Bitcoin, repays $45M debt, $25M buyback

Nakamoto Inc., a publicly traded company focused on Bitcoin, has sold a portion of its cryptocurrency holdings to reduce its debt and restructure its balance sheet. The company sold approximately 600 Bitcoin and related derivative positions, generating about $48 million in proceeds. Of that amount, roughly $45 million was used to repay a portion of its loan obligations to the cryptocurrency exchange Kraken.

Following the sale, Nakamoto's Bitcoin treasury now stands at approximately 4,467 BTC, valued at around $280 million. The company also announced a revised loan agreement with Kraken covering its remaining $165 million USDT debt. Under the new terms, $60 million of that debt matures on December 4, 2026, while the remaining $105 million principal has been extended to June 30, 2027. The company secured a reduction in the annual interest rate on the extended portion from 8.0% to 7.75%, contingent on maintaining at least 2,000 Bitcoin as collateral in a separate account managed by Bitwise Asset Management.

Chief Investment Officer Tyler Evans stated in a company release that recent Bitcoin volatility reinforced the importance of maintaining a disciplined balance sheet. He said the...