Nakamoto sold approximately 600 Bitcoin and related derivative positions, generating $48 million in net proceeds. The company used $45 million to repay a Kraken loan and restructured the remaining $165 million debt with extended maturity and lower interest rates. Nakamoto's Bitcoin treasury now stands at 4,467 BTC.
Nakamoto sold 600 Bitcoin for $48 million to repay a Kraken loan, cutting its treasury to 4,467 BTC while restructuring $165 million in remaining debt.
"Nakamoto acquired Bitcoin near $118,000 and later sold at lower levels during downturns," Justin Bechler, a market observer, said. The firm also disposed of additional Bitcoin at about $61,000, he added.
The company directed $45 million of the proceeds toward repayment of obligations linked to Kraken. The remaining $165 million in USDT debt was restructured, with $60 million now maturing Dec. 4 and $105 million extended to June 30, 2027, under revised terms that cut the interest rate to 7.75% from 8%, reducing annual financing costs by about $413,000.
The sale and restructuring reduce Nakamoto's leverage exposure as Bitcoin has fallen from levels near $118,000 to around $62,634, compressing margins for firms that borrowed against their crypto holdings. The board also authorized a $25 million share repurchase program, and the company regained Nasdaq minimum bid-price compliance as of June 9 after executing a 1-for-40 reverse stock split.
Nakamoto's Bitcoin treasury of 4,467 BTC is valued at roughly $280 million at current prices. The remaining $165 million in Kraken debt represents a significant liability, though the restructured terms provide near-term relief through lower interest costs and extended maturities.
Nakamoto's sale adds to selling pressure on Bitcoin at a time when the largest cryptocurrency has struggled to hold above $63,000. The decision to liquidate rather than pledge additional collateral reflects tightening conditions in crypto lending markets after several high-profile defaults in previous cycles. Kraken, which received $45 million from the sale, reduced its exposure to Nakamoto while extending terms on the remaining balance — a sign that lenders are seeking to de-risk while avoiding forced liquidations that could destabilize prices.
This article is for informational purposes only and does not constitute investment advice.
