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Nakamoto's Q1 revenue jumps 500% despite $238.8M loss amid Bitcoin price drop

Protocol Fundamentals
14 May 2026
TheNewsCrypto
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Bearish
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Nakamoto, a Bitcoin-focused company, reported a 500% revenue increase in Q1 2026 following strategic acquisitions, despite a net loss of $238.8 million. The loss was largely due to a $102.5 million mark-to-market loss on Bitcoin holdings amid a 23% price decline and a broader 37% drop from Bitcoin's all-time high. The company sold 284 Bitcoin to cover operating costs but did not buy any during the quarter. CEO David Bailey described the acquisitions of BTC Inc. and UTXO Management as transformational, signaling a strategic shift to diversify revenue streams beyond Bitcoin holdings.

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