Nakamoto’s Q1 revenue surged 500% quarter-on-quarter, yet it posted a net loss of $238.8 million.

According to Cointelegraph, Bitcoin company Nakamoto reported a 500% quarter-on-quarter revenue increase for Q1 2026, yet recorded a net loss of $238.8 million. The company attributed the loss primarily to a $107.7 million non-cash impairment related to acquisition-related options and a $102.5 million mark-to-market loss stemming from its 5,058 BTC holdings, which declined 23% in value during the quarter. During the reporting period, Nakamoto completed the acquisitions of BTC Inc. and UTXO Management, did not add to its Bitcoin holdings, and sold 284 BTC on March 31 to cover operating expenses. CEO David Bailey stated that the company will continue expanding its Bitcoin reserves, services, and trading strategies, and plans to wind down its healthcare business by the end of Q2.