{"id":54068,"date":"2026-08-13T09:57:04","date_gmt":"2026-08-13T14:57:04","guid":{"rendered":"https:\/\/bitcoinmagazine.com\/?p=54068"},"modified":"2026-08-13T09:57:09","modified_gmt":"2026-08-13T14:57:09","slug":"nakamoto-posts-quarterly-results","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/news\/nakamoto-posts-quarterly-results","title":{"rendered":"Nakamoto Posts First Positive Adjusted Operating Income, Despite $133M GAAP Net Loss"},"content":{"rendered":"
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Bitcoin operating company Nakamoto Inc.<\/a> dropped its first quarterly results on Thursday, marked by a wide GAAP net loss in what the company is calling a turning point in its underlying operations.<\/p>\n\n\n\n

The Nashville-based company posted<\/a> total operating revenue of $35.9 million for the quarter ended June 30, 2026, split between $25.6 million from its media and asset management units and $10.4 million from its Bitcoin treasury and derivatives strategy, according to a Thursday statement. <\/p>\n\n\n\n

Nakamoto shares (NASDAQ: NAKA) rose more than 2% Thursday morning in New York. <\/p>\n\n\n\n

On a GAAP basis, Nakamoto reported an operating loss of $149.1 million and a net loss of $133.0 million, or $6.65 per diluted share \u2014 driven largely by a $105.2 million non-cash goodwill impairment and $48.7 million in mark-to-market losses on its Bitcoin holdings.<\/p>\n\n\n\n

Stripping out those non-cash items, the picture looks different: adjusted operating income came in at $7.3 million, which the company says is its first positive adjusted operating income since it became a Bitcoin operating company.<\/p>\n\n\n\n

“This quarter we delivered the first positive adjusted operating income since Nakamoto became a Bitcoin operating company,” David Bailey, the company’s Chairman and CEO, said, pointing also to a roughly $45 million reduction in outstanding debt and the extension of about $105 million in loan principal to June 2027.<\/p>\n\n\n\n

The quarter also brought a major structural shift: Nakamoto completed the closure of its legacy healthcare clinics on June 19, 2026, finishing its transition into a pure-play Bitcoin operating company. The board authorized a $25 million share buyback and added Chief Investment Officer Tyler Evans as a director.<\/p>\n\n\n\n

Nakamoto’s asset management arm, UTXO Management, launched a new structured credit fund and said it guided a client vehicle, the 210k Capital Fund, through what it described as the first cleared Bitcoin Depositary Receipt trade settled via traditional prime brokerage and DTCC infrastructure \u2014 a milestone the firm frames as a step toward integrating Bitcoin products into mainstream financial markets. Separately, the 210k Capital fund itself fell 5% for the quarter, outperforming a 14% decline in Bitcoin over the same period.<\/p>\n\n\n\n

The company’s media unit, BTC Inc., generated $22.6 million from its flagship Bitcoin 2026 conference and announced a new daily video network, BM TV, along with new institutional-focused events aimed at connecting corporate executives and capital allocators with the Bitcoin industry.<\/p>\n\n\n\n

Nakamoto ended the quarter holding 4,467 Bitcoin, valued at approximately $261.5 million.<\/p>\n\n\n\n

Bitcoin Magazine is published by BTC Inc, a subsidiary of Nakamoto Inc. (NASDAQ: NAKA)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The company’s first quarterly results are a turning point in the Bitcoin-native company. <\/p>\n","protected":false},"author":3860,"featured_media":52589,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4378],"tags":[76,5437,6086,5622],"class_list":["post-54068","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news","tag-bitcoin","tag-bitcoin-treasury","tag-naka","tag-nakamoto"],"author_data":{"id":3860,"name":"Mathew Di Salvo","nicename":"mathewdisalvo","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2026\/07\/cropped-Mathew-Di-Salvo-scaled-1.jpeg"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2026\/06\/Nakamoto-Inc.-NAKA-Strengthens-Balance-With-600-Bitcoin-Sale-Refinancing-and-Buyback-Authorization.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/54068","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/3860"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=54068"}],"version-history":[{"count":2,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/54068\/revisions"}],"predecessor-version":[{"id":54071,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/54068\/revisions\/54071"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/52589"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=54068"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=54068"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=54068"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}