Nakamoto

Nakamoto Inc.

Treasury Qualification

Treasury classificationBitcoin Operating Company

Qualification tierCore Directory

Directory statusIncluded

Ownership statusJune 30 owned BTC is 4,467, including 3,805 owned pledged BTC and 662 unencumbered BTC. Approximately 600 BTC sold for liquidity/debt repayment explains most, not an exact reconciliation, of the 597-BTC decline. Managed-fund assets remain excluded.

Strategic intent

Nakamoto holds Bitcoin as a long-term treasury reserve while also using portions of its holdings in financing, collateral, hedging, and income-generating derivatives strategies. Its operating model also includes Bitcoin media, asset management, and advisory businesses.

Bitcoin Treasury

Last verified attributable BTC4,467 BTC

Balance dateJune 30, 2026

Estimated value$356,216,448BTC price retrieved: October 27, 2026 at 08:17 UTC

Average purchase priceNot disclosed

Included in totals

Verified at the stated balance date

Ownership and Restrictions

Component figures are shown only when separately disclosed and may overlap; they are not additive. Components refer to the eligible balance date unless dated otherwise in research notes. “Not separately disclosed” does not imply zero.

Total BTC reported4,467

Unencumbered / unrestricted662

Pledged as collateral3,805

Loaned to third parties0

Subsidiary-owned0

Other restricted owned BTC0

Latest Financial Results

Reporting period: Three months ended June 30, 2026

Revenue$35,869,000

Operating income/loss$-149,079,000

Net income/loss$-132,997,000

Cash$19,072,000

Management

Chief executive officer: David Bailey
Chief financial officer: Teresa Gendron
Executive chair: David Bailey (Chairman and Chief Executive Officer)

Research Notes

Nakamoto reported 5,064 BTC as of March 31, 2026, valued at approximately $345.6 million. Approximately 4,405 BTC was held as collateral for a 210 million USDT loan from Kraken, leaving 659 BTC unencumbered. The company also operated an actively managed Bitcoin derivatives program. At quarter-end it had written call options on 1,850 BTC, written put options on 1,000 BTC, and purchased put protection covering up to 2,000 BTC. These derivatives do not change the reported 5,064-BTC owned balance, but they materially affect the risk profile and are disclosed here. During Q1 2026, Nakamoto sold approximately 284 BTC for working capital and generated about $1.1 million from its Bitcoin treasury and derivatives strategy. For Q1 2026, the company reported $2.678 million in operating revenue, a $126.2 million operating loss, and a $238.8 million net loss. Local refresh methodology note — September 29, 2026 (approved Batch 2 and subsequent manifest refinements; not a blanket verification date): June 30 owned BTC is 4,467, including 3,805 owned pledged BTC and 662 unencumbered BTC. Approximately 600 BTC sold for liquidity/debt repayment explains most, not an exact reconciliation, of the 597-BTC decline. Managed-fund assets remain excluded. Financial mapping: USD. Revenue: "Total operating revenues", including derivatives activity. Net result: "Net loss", consolidated including discontinued operations; continuing-operations loss of USD 131,199,000 is different. Financial source publication/filing date: August 13, 2026. Source: https://www.sec.gov/Archives/edgar/data/1946573/000149315226037603/form10-q.htm. Holdings evidence: https://www.sec.gov/Archives/edgar/data/1946573/000149315226037603/form10-q.htm.