Nakamoto announced a series of capital structure and treasury management initiatives aimed at strengthening its balance sheet, improving financial flexibility, and creating long-term shareholder value. The company reduced outstanding debt by approximately $45 million, refinanced a significant portion of its obligations, authorized a share repurchase program worth up to $25 million, and regained compliance with Nasdaq listing requirements.
The company generated approximately $48 million in net proceeds by selling about 600 Bitcoin and Bitcoin-related derivative positions, using the proceeds to repay a portion of its debt. Following the transaction, Nakamoto retained approximately 4,467 Bitcoin on its balance sheet.
As part of the refinancing, Nakamoto entered into a new loan term sheet under its Master Loan Agreement with Payward Interactive, Inc., doing business as Kraken. Under the revised structure, 60 million USDT will mature on December 4, 2026, while approximately 105 million USDT of principal has been extended to June 30, 2027. The company also gained the ability to reduce the interest rate to 7.75% annually and secured greater collateral flexibility through assets held in its Bitwise trading wallet. Management expects these changes to reduce annual financing costs by approximately $4 million.
In addition, Nakamoto’s Board of Directors approved a share repurchase program authorizing the company to buy back up to $25 million of its outstanding common stock through December 31, 2026. The repurchases may be executed through open market purchases, privately negotiated transactions, block trades, Rule 10b5-1 trading plans, and other lawful methods. The program does not obligate the company to repurchase any specific amount of shares and may be modified, suspended, or discontinued at any time.
The company also announced that on June 9, 2026, it received confirmation from Nasdaq Listing Qualifications that it had regained compliance with the exchange’s minimum bid price requirement, resolving the matter.
Nakamoto is a Bitcoin operating company that owns and manages a global portfolio of Bitcoin-focused businesses across media and information services, asset management and financial services, and consulting and advisory services. Its subsidiaries include BTC Inc., the company behind Bitcoin Magazine, The Bitcoin Conference, and Bitcoin for Corporations, as well as UTXO Management, a Bitcoin-native asset manager focused on investments throughout the Bitcoin ecosystem.
KEY QUOTES:
“The recent volatility in Bitcoin markets reinforces the importance of maintaining a disciplined balance sheet. Through this refinancing, we have reduced overall debt, extended the majority of our maturity profile into 2027, and improved the overall flexibility of our debt. These actions also strengthen our capital structure and are expected to lower financing costs, providing additional optionality as we continue executing our long-term Bitcoin treasury strategy. We are grateful to Kraken for being a thoughtful and supportive financing partner throughout this process.”
Tyler Evans, Chief Investment Officer And Director, Nakamoto
