Nakamoto reported a 500% quarter-on-quarter increase in revenue for Q1, but still recorded a net loss of $238.8 million.

Odaily reported that Bitcoin company Nakamoto's revenue in the first quarter of 2026 grew by 500% quarter-on-quarter, but the company still recorded a net loss of $238.8 million. The company stated that the loss was primarily due to a $107.7 million non-cash impairment related to an acquisition's pre-existing options, as well as a $102.5 million mark-to-market loss on its holdings of 5,058 BTC from a 23% price drop during the quarter. During the reporting period, Nakamoto completed the acquisitions of BTC Inc. and UTXO Management, did not increase its Bitcoin holdings, and sold 284 BTC on March 31 to cover operating expenses. CEO David Bailey said the company will continue to expand its Bitcoin reserves, services, and trading strategies, and plans to wind down its healthcare business by the end of the second quarter.