Nakamoto Q1 net loss of $238.8 million, still holding over 5,000 BTC

Golden Finance reports that on May 14, Bitcoin Treasury Company Nakamoto announced its first-quarter financial report for 2026, stating that the company completed the acquisition of BTC Inc. and UTXO Management on February 20, officially establishing an operational system covering Bitcoin media, asset management, and consulting services. At the same time, the company launched an actively managed Bitcoin derivatives strategy to improve treasury asset returns, enhance capital efficiency, and manage downside risk. The total operating revenue for the first quarter was $2.7 million, of which $1.6 million came from operating businesses and $1.1 million from Bitcoin reserves and derivatives strategies.
The financial report shows that Nakamoto had a net loss of $238.8 million in the first quarter, mainly affected by non-cash and transaction-related items, including a $102.5 million valuation loss due to the decline in Bitcoin prices, a $107.7 million non-cash loss resulting from reduced accumulated gains on pre-acquisition call options, and approximately $8 million in trading and integration costs. As of March 31, 2026, the company held over 5,000 Bitcoins, with a fair value of approximately $345 million at the end of the period.