Nakamoto Shares Plummet 99% Amid $372M Losses
Nakamoto Shares Plummet 99% After $372M First-Half Loss
The shares of Nakamoto, a Bitcoin treasury company, have fallen by nearly 99% from their peak, highlighting the strain facing companies that rely on equity financing after the market premium for public crypto vehicles weakened.
Nakamoto used its public-market structure to pursue a Bitcoin treasury strategy, but its shares lost most of their value after investors reassessed the model. The company's financial results added pressure to the share-price collapse, with a net loss of about $372 million for the first half of 2026.
However, Nakamoto's latest operating update offered a different signal. The company reported positive adjusted operating income in its second quarter and reduced debt by approximately $45 million, according to CEO David Bailey.