Nakamoto (NASDAQ: NAKA), a publicly traded Bitcoin treasury firm, executed a series of capital structure moves including the liquidation of approximately 600 Bitcoin and BTC-linked derivatives, generating nearly $48 million in net proceeds. The funds were used to cancel $45 million in debt owed to Payward Interactive, Inc., operator of the Kraken exchange. The sale reduced the company's Bitcoin holdings from 5,058 BTC at end of March to roughly 4,467 BTC, a position still valued at over $280 million.
Following the debt reduction, Nakamoto agreed to revised loan terms with Kraken covering the remaining 165 million USDT. Under the new structure, $60 million matures on December 4, 2026, while $105 million was extended to June 30, 2027. The annual interest rate was set between 8.0% and 7.75%, dependent on maintaining at least 2,000 BTC in a separate account managed by Bitwise Asset Management. The refinancing is expected to lower annual financing costs by about $4 million. Additionally, the board authorized a $25 million share repurchase program through year-end 2026, and the company confirmed it has regained compliance with Nasdaq's minimum $1 bid price requirement.