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

Odaily reports that 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, after the stock split, the company's number of outstanding shares will be reduced from approximately 696.1 million shares to about 17.4 million shares, and is expected to take effect on May 22.

Previously, Nakamoto reported its first-quarter 2026 financial results, with a net loss of $238.8 million. Of this, approximately $107.7 million came from impairment related to acquired options, and another approximately $102.5 million in losses came from the book loss on its holdings of 5,058 BTC during the quarter when the price of Bitcoin fell by 23%. (Decrypt)