Finst

Nakamoto Cuts Debt With Sale of 600 Bitcoin and Announces Share Buyback

Nakamoto is lowering its debt load with a sale of 600 Bitcoin and giving itself more financial breathing room. A share buyback is also meant to support investor confidence.

By Mike Hesp
• 2 min read
Nakamoto Cuts Debt With Sale of 600 Bitcoin and Announces Share Buyback

Key Takeaways

  • Nakamoto sold about 600 Bitcoin and used around $45 million to pay off a loan at Kraken.
  • The company now holds about 4,467 BTC and approved a share buyback program of up to $25 million.
  • The new debt terms could cut annual financing costs by about $4 million.

Nakamoto Inc., a Nasdaq-listed company, recently sold about 600 Bitcoin for net proceeds of around $48 million (€41.6 million). With that sale, the company paid down $45 million (€39 million) of a loan at Kraken, a major step in restructuring its debt load. After this transaction, Nakamoto still holds about 4,467 BTC, while the company’s stock price jumped by nearly 20%.

Debt Restructuring and Extended Maturity

The repayment covered part of the loan Nakamoto had with Payward Interactive, Kraken’s parent company. The remaining balance of 165 million USDT is now split under a new agreement, with $60 million (€52 million) due in December 2026 and $105 million (€91 million) due in June 2027. In addition, the interest rate can fall from 8% to 7.75% if Nakamoto keeps at least 2,000 BTC posted as collateral with Bitwise Asset Management. These changes could lower annual financing costs by about $4 million (€3.5 million).

Along with the debt reduction, Nakamoto approved a share buyback program worth up to $25 million (€21.7 million), which runs through the end of 2026. While the program does not require the company to buy shares, it is being seen as a sign of confidence in the company’s underlying value.

Impact on the Market and Investors

Nakamoto’s latest moves come at a time when Bitcoin-focused companies are restructuring debt amid a weaker crypto market. Since Bitcoin’s peak near $126,000 (€109,200) in October 2025, the price has dropped by about 22%, putting pressure on companies with large BTC positions and loans. That broader pressure is also showing up in weaker demand from digital treasury companies, as the sharp drop in institutional Bitcoin buying shows.

Nakamoto has sold Bitcoin to manage debt before, including a sale of 284 BTC in March 2026, even though it took significant losses versus the purchase price. The current balance between the remaining BTC holdings and the outstanding loans, which are about 1.7 times higher, gives the company some room for financial stability. The stock’s rise after the announcement reflects positive investor sentiment about the improved balance sheet.

Why This Matters for European Crypto Investors

For European investors, Nakamoto’s approach to debt management and balance sheet strengthening can be a sign of broader trends among Bitcoin treasury companies. It shows how companies are actively trying to limit their exposure to volatility and financing risk, which may matter for anyone looking for exposure to this sector in a volatile market environment.

Disclaimer: This content is for informational purposes only and does not constitute financial, investment, legal, or tax advice. The information provided may be incomplete, inaccurate, or outdated and should not be relied upon as such. Nothing on this website should be considered a recommendation to buy, sell, or hold any cryptocurrency. Investing in crypto-assets involves risk of loss.