Nakamoto Q1 Revenue Up 500% QoQ, but Still Records $238.8 Million Net Loss

Odaily Bitcoin company Nakamoto reported a 500% quarter-over-quarter increase in revenue for the first quarter of 2026, but still recorded a net loss of $238.8 million. The company stated that the loss was primarily due to a $107.7 million non-cash impairment related to a pre-acquisition option, as well as a $102.5 million mark-to-market loss on its holdings of 5,058 BTC resulting from a 23% price decline during the quarter. During the reporting period, Nakamoto completed the acquisitions of BTC Inc. and UTXO Management, did not increase its Bitcoin holdings, and sold 284 BTC on March 31 to cover operating expenses. CEO David Bailey stated that the company will continue to expand its Bitcoin reserves, services, and trading strategies, and plans to close its healthcare business by the end of the second quarter. (Cointelegraph)