Nakamoto sold 284 Bitcoin on the last day of March just to keep the lights on. That detail, buried in the company\u2019s first-quarter financial results, tells the story of where one of the country\u2019s Bitcoin treasury companies now stands.<\/p>\n
The Bitcoin accumulation strategy that once drove Nakamoto\u2019s stock above $25 a share has given way to something far less glamorous \u2014 selling Bitcoin to cover operating costs.<\/p>\n
The company reported<\/a> a net loss of $238 million for the first quarter of the year, with more than $102 million of that tied to a drop in the value of its Bitcoin holdings after the cryptocurrency fell 20% during the quarter. Revenue jumped 500% quarter over quarter, but the losses swamped those gains.<\/p>\n Nakamoto<\/a> holds 5,058 Bitcoin, making it the 20th largest corporate Bitcoin holder in the world, just behind ProCap Financial.<\/p>\n Michael Saylor\u2019s Strategy<\/a> sits at the top of that list with more than 843,000 Bitcoin on its balance sheet \u2014 a gap that makes clear how far down the pecking order Nakamoto falls.<\/p>\n Following Stockholder Approval, Nakamoto Announces 1-for-40 Reverse Stock Split to be Effective May 22, 2026<\/p>\n Read the full announcement here: https:\/\/t.co\/AnqTXttIMQ<\/a><\/p>\n \u2014 Nakamoto (@nakamoto) May 20, 2026<\/a><\/p>\n The company is now focused on a more immediate problem: staying listed on the Nasdaq. Last December, Nasdaq sent Nakamoto a warning after its stock price dropped below $1 for 30 straight trading days.<\/p>\n The deadline to fix that is June 8, and the fix the company has chosen is a 1-for-40 reverse stock split<\/a>, set to take effect Friday.<\/p>\n The move was approved by shareholders at a special meeting earlier this month. Under the plan, every 40 shares get combined into one, shrinking the total share count from 696 million down to 17.4 million.<\/p>\n The stock closed at 16 cents Wednesday \u2014 down 7.5% for the day and more than 99% below where it traded a year ago.<\/p>\nRacing The Clock On Nasdaq<\/h2>\n