Nakamoto Shares Fall 6% After Q3 Revenue Turns Negative
Nakamoto shares fell 6.5% in premarket trading Friday after a $5.8 million loss on Bitcoin options pushed third-quarter operating revenue to negative $1.9 million.
Shares in Nasdaq-listed Bitcoin treasury company Nakamoto fell after the company released its third-quarter results following the market close Thursday.
Nakamoto generated $3.9 million in revenue from its business operations in the quarter ended Sept. 30. A $5.8 million net loss on Bitcoin options reduced total operating revenue to negative $1.9 million, compared with analysts’ average estimate of $17.4 million.
The company reported net income of $85.5 million and an adjusted operating loss of $15.8 million. A $110.4 million gain from the revaluation of its digital assets, mainly Bitcoin, contributed to the net income. The adjusted operating loss excludes that gain.
Nakamoto held 4,283 Bitcoin worth about $357.9 million as of Sept. 30, down from 4,467 Bitcoin at the end of June. The company has used Bitcoin-related options to manage risk.
Nakamoto shares traded at $5.40 at 12:02 p.m. UTC Friday, leaving the stock down about 62% since the start of 2026.
Reviewed and fact-checked by Alex Panasenko on November 13.
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