Nakamoto Stock Plunges Amid Bitcoin Strategy Backlash

Nakamoto Stock Continues to Struggle as Bitcoin Strategy Fails

The company's market value remains below its treasury, despite a significant decline in share price. Nakamoto held 4,467 Bitcoin worth $343.2 million on September 2, but its market capitalization stood at only $126.2 million the previous day. The disparity between the two values is largely due to a fall in share price, which closed at $7.05 on September 1.

Nakamoto reported a net loss of $133.0 million for the second quarter of 2026, following a $238.8 million loss in the previous quarter. The company's operating loss reached $149.1 million, while revenue stood at $35.9 million. However, excluding non-cash charges, adjusted operating income reached $7.3 million, marking the first positive result since Nakamoto became a Bitcoin operating company.

The company's debt load remains substantial, with total debt standing at $164.7 million and cash at $19.1 million. Nakamoto has pledged 3,805 coins as collateral, leaving it vulnerable to further losses if the market continues to decline.