Bitcoin treasury company Nakamoto plans to implement a 1:40 reverse stock split to maintain Nasdaq listing eligibility

Odaily Planet Daily News: Bitcoin treasury company Nakamoto plans to implement a 1:40 reverse stock split to push its share price back above $1, thereby meeting Nasdaq listing compliance requirements.

According to the plan, the company's outstanding shares will be reduced from approximately 696.1 million to approximately 17.4 million after the split, which is expected to take effect on May 22.

Previously, Nakamoto reported its Q1 2026 financial results, with a net loss of $238.8 million. Among this, approximately $107.7 million came from write-downs related to the acquisition of pre-funded options, and approximately $102.5 million of the loss stemmed from book losses on its holdings of 5,058 BTC during the 23% decline in Bitcoin prices that quarter. (Decrypt)