AcquisitionsMay 13, 2026, 05:07 PM
Nakamoto Inc. reports $238.8M net loss; completes BTC Inc. & UTXO acquisitions
AI Summary
Nakamoto Inc. reported a net loss of $238.8 million for the three months ended March 31, 2026, a significant increase from $1.0 million in the prior year, primarily due to losses on digital assets and a call option. The company completed the acquisitions of BTC Inc., a Bitcoin-focused media company, and UTXO Management GP, LLC, an asset management firm, as part of its transformation into a Bitcoin operating company. Total operating revenues increased to $2.7 million.
Key Highlights
- Completed acquisition of BTC Inc. on February 20, 2026, recognizing $70.8 million in goodwill.
- Completed acquisition of UTXO Management GP, LLC on February 20, 2026, recognizing $22.7 million in goodwill.
- Reported a net loss of $238.8 million for Q1 2026, compared to $1.0 million in Q1 2025.
- Total operating revenues increased to $2.7 million in Q1 2026 from $0.6 million in Q1 2025.
- Incurred a $102.5 million loss on the change in fair value of digital assets in Q1 2026.
- Recognized a $107.7 million loss on the change in fair value of a related-party call option asset.
- Cash and cash equivalents increased to $35.3 million as of March 31, 2026, from $22.6 million.
- Total assets decreased to $620.8 million as of March 31, 2026, from $730.6 million.