Overview
- Nakamoto disclosed Thursday that it sold roughly 600 Bitcoin and related derivative positions for about $48 million and used approximately $45 million of the proceeds to repay part of its loan with Payward Interactive, which operates as Kraken.
- After the paydown the company entered a new term sheet covering a remaining 165 million USDT balance with 60 million USDT maturing December 4, 2026 and 105 million USDT extended to June 30, 2027.
- The restructured loan can cut the annual interest rate from 8.0% to as low as 7.75% if Nakamoto keeps a baseline of 2,000 BTC in a Bitwise‑managed collateral account.
- Following the transactions Nakamoto holds about 4,467 BTC and says the refinancing will reduce annual financing costs by roughly $4 million while lowering near‑term leverage.
- The board authorized a $25 million share repurchase program through December 31, 2026 and Nasdaq sent a June 9 letter confirming the company regained the exchange's minimum $1 bid‑price compliance, a step that restores broader investor access as Bitcoin‑treasury firms manage volatility and lender collateral rules.