Nakamoto Reports Q1 Net Loss of $238.8M, Hit by Bitcoin Unrealized Losses

According to Cointelegraph, Nakamoto reported a first-quarter net loss of $238.8 million, driven by $107.7 million in non-cash impairment charges related to pre-acquisition warrants and $102.5 million in unrealized losses on its 5,058 BTC holdings. Revenue grew 500% quarter-over-quarter, with income streams including $1.1 million from its bitcoin treasury and derivatives strategy, $800,000 from media operations, $500,000 from healthcare services, and $200,000 from asset management. The company completed acquisitions of bitcoin news outlet BTC Inc. and investment platform UTXO Management in February. Nakamoto sold 284 BTC in March for operational expenses and did not add to its bitcoin holdings during the quarter.