Bitcoin Treasury Company Nakamoto Sells Approximately 600 BTC to Repay Debt

Odaily Planet Daily reports that Bitcoin treasury company Nakamoto has officially announced that it generated approximately $48 million in net proceeds by selling about 600 BTC and related derivative positions, 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 completion of the transaction, the company signed a new loan term sheet with Kraken for the remaining $165 million USDT, with $105 million in principal deferred until June 30, 2027, and the annual interest rate potentially reduced to 7.75% upon meeting the Bitwise custodian wallet collateral threshold. Additionally, the company's board of directors has authorized a stock buyback program of up to $25 million. Currently, the company still holds approximately 4,467 BTC on its balance sheet. Furthermore, according to a notice from Nasdaq, the company has regained compliance with listing requirements.