Bitcoin Treasury Company Nakamoto Sells Approximately 600 BTC to Repay Debt

Odaily Odaily reports that Bitcoin treasury company Nakamoto has officially announced that by selling approximately 600 BTC and related derivative positions, it generated net proceeds of about $48 million, thereby repaying approximately $45 million in outstanding debt to Kraken. This move is expected to reduce annual financing costs by approximately $4 million.

Following the transaction, the company signed a new loan term sheet for the remaining 165 million USDT with Kraken, wherein the principal of 105 million USDT has been extended to June 30, 2027, with an annual interest rate that can be reduced to 7.75% upon meeting the Bitwise custodial wallet collateral threshold. Additionally, the company's board has authorized a stock buyback program of up to $25 million. The company currently holds approximately 4,467 BTC on its balance sheet. According to a notice from Nasdaq, the company has regained compliance with listing requirements.