In late March, Nakamoto sold 284 Bitcoin simply to cover operating costs. This detail, revealed in the company’s recent quarterly report, highlights their current situation: while showing strong growth on paper, they are still spending more money than they’re earning as they head into the latter half of 2026.
A Rough Quarter By The Numbers
The company reported a net loss of $238 million for the first quarter, but this number is misleading. The loss was largely due to two accounting adjustments that didn’t involve actual cash flow. First, a $107 million charge related to an option the company held before acquiring another business. Second, the value of its Bitcoin holdings—5,058 Bitcoins—decreased by $102 million during the quarter because the price of Bitcoin fell by 23%.
Revenue increased dramatically, jumping over 500% from the previous quarter to $2.7 million. This growth was driven by four key areas: Bitcoin trading and related services contributed $1 million, the company’s media division brought in $800,000, healthcare initiatives generated $500,000, and asset management services added $200,000.
Update: Nakamoto Reports First Quarter 2026 Results
Read the full announcement here:
— Nakamoto (@nakamoto) May 13, 2026
As a crypto investor, I was really encouraged by what David Bailey, the CEO, had to say about Q1. He called it a turning point for the company, and I think the acquisitions of BTC Inc. and UTXO Management are the reason why. Those were smart moves that should really set us up for future growth. It’s worth noting that both deals only closed on February 20th, so we didn’t see the full financial impact of them in the first quarter’s numbers.
Acquisitions Shape The New Direction
Nakamoto is expanding far beyond just storing Bitcoin. Recent agreements, like those with BTC Inc. and UTXO Management, are building a strong base for the company to operate throughout the entire Bitcoin world.
According to Bailey, the company’s main priority for the remainder of 2026 is putting its plans into action. This includes expanding operations, increasing sales, and boosting value for investors by carefully managing its finances.
The company plans to increase revenue by using its Bitcoin as security for investment strategies that will earn returns. It’s also shutting down its healthcare operations completely by the end of the second quarter to focus more on Bitcoin-related initiatives.
Nakamoto used to operate as KindlyMD, but it merged with a healthcare company in Utah last August and completely changed its brand name in January.
Stock Down More Than 99% From Its Peak
Nakamoto’s stock performance paints a starker picture. The stock has plummeted over 99% from its peak value. While shares briefly increased by 2.7% to $0.18 after the first quarter results were released, this small gain suggests cautious hope rather than a full turnaround.
The company didn’t buy any Bitcoin this past quarter. Overall, companies holding Bitcoin have been feeling the strain, as the price of the cryptocurrency is currently about 37% lower than its all-time peak.
Recent data indicates that most companies holding Bitcoin as a treasury asset – excluding Strategy and Metaplanet – have reduced their purchases over the last year. A few have even sold some of their Bitcoin to pay off debts.
Read More
- Gold Rate Forecast
- GBP USD PREDICTION
- USD RUB PREDICTION
- ETH PREDICTION. ETH cryptocurrency
- USD ILS PREDICTION
- PI PREDICTION. PI cryptocurrency
- FIL PREDICTION. FIL cryptocurrency
- Bridge of the Damned: Syndicate’s $400K Crypto Heist Makes ‘DeFi’ Sound Like ‘Oh No!’
- BTC CAD PREDICTION. BTC cryptocurrency
- USD THB PREDICTION
2026-05-14 17:42