Overview
- Nakamoto said Thursday it booked $2.7 million in first-quarter revenue and a $238.8 million net loss.
- The loss reflected a $102.5 million mark-to-market hit on its bitcoin, a $107.7 million pre-acquisition option adjustment, and about $8 million in deal costs.
- The company closed BTC Inc. and UTXO Management on February 20, which lifted revenue roughly 500% quarter over quarter with only a partial-period contribution.
- It held about 5,058 bitcoin at March 31 and sold 284 coins to fund operations as it launched an actively managed options program to earn premiums.
- Management expects the healthcare wind-down to be largely complete by the end of Q2, and the stock touched a new low after the report before ticking higher.