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Nakamoto Inc. reduced its Bitcoin treasury by 184 coins during the third quarter of 2026, bringing its total holdings down to 4,283 BTC as of Sept. 30. The company, led by David Bailey and listed on NASDAQ under the ticker NAKA, generated approximately $13.2 million in proceeds from these digital asset sales. The filing did not specify whether the 184 BTC were sold in a single transaction or multiple tranches.
As of 00:10 UTC, Bitcoin traded at $68,352, -4.2% over 24 hours, with $43.7 billion in 24-hour volume.
Treasury Reduction and Valuation
The company’s Bitcoin holdings decreased from 4,467 BTC at the end of June to the current 4,283 BTC. Based on current market valuations, Nakamoto Inc. holds approximately $357.9 million worth of Bitcoin. This places the firm in 21st place on the Bitcoin 100 corporate treasury rankings. The reduction in holdings continues a pattern of asset management that includes sales in earlier months of the year.
In March 2026, Nakamoto Inc. sold around 284 BTC, generating approximately $20 million. The average sale price for these coins was about $70,422 per Bitcoin. The company stated that these funds were used to meet working capital needs following the acquisitions of BTC Inc. and UTXO Management. Earlier in the first quarter, the firm also sold around 40 BTC while receiving a premium of approximately 43 BTC from derivatives strategies.
Kraken Loan Repayment and Extension
In June, the company engaged in a larger transaction, selling around 600 BTC for 35.6 million USDT. When combined with proceeds from Bitcoin derivative positions, Nakamoto Inc. generated approximately $48 million from these June transactions. The firm used $45 million of these proceeds to partially repay its Bitcoin-backed loan from Kraken. This repayment reduced the loan principal from 210 million USDT to 165 million USDT.
As of Sept. 30, the company had pledged roughly 3,030 BTC as collateral for its debt, leaving 1,253 BTC unpledged. On Nov. 11, Nakamoto Inc. announced that it had extended the maturity of a specific 60 million USDT loan from Kraken by one year. The maturity date for this loan was moved from December 2026 to December 2027. Following this extension, the company reported that it has no remaining principal maturities in 2026.
