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Nakamoto eliminates $45M debt, authorizes $25M share repurchase

Nakamoto eliminates $45M debt, authorizes $25M share repurchase

The bitcoin treasury company repaid part of its Kraken loan after selling about 600 BTC and derivatives, kept about 4,467 BTC, refinanced 165 million USDT debt and regained Nasdaq compliance.

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Fact Check
Every element of the claim is confirmed by the StockTitan reproduction of Nakamoto's official BusinessWire press release and independently corroborated by Investing.com: $45M debt repaid to Kraken via sale of ~600 BTC and derivatives, ~4,467 BTC retained, 105M USDT extended to June 30, 2027, $25M share repurchase authorized, and Nasdaq compliance regained. The CryptoBriefing supplied link also confirms the headline facts. The only minor caveat is the original BusinessWire page was access-blocked, but two independent reproductions match consistently.
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Summary

Nakamoto said it generated about $48 million in net proceeds by selling about 600 BTC and related derivatives positions, using the funds to repay roughly $45 million of debt owed to Payward Interactive, Inc., doing business as Kraken. The Nasdaq-listed bitcoin treasury company said it still holds about 4,467 BTC, entered a new loan term sheet under its existing Master Loan Agreement with Kraken covering a remaining 165 million USDT balance, with 60 million USDT maturing on Dec. 4, 2026 and 105 million USDT extended to June 30, 2027. The interest rate falls from 8.0% to 7.75% per annum if Nakamoto maintains a baseline collateral level of 2,000 BTC in a separately managed account at Bitwise Asset Management, and the company said the restructured debt should cut annual financing costs by about $4 million. Nakamoto also authorized a share repurchase program of up to $25 million through Dec. 31, 2026 and said it regained compliance with Nasdaq’s minimum $1.00 bid-price rule on June 9.

Terms & Concepts
  • bitcoin treasury company: A company that holds bitcoin on its balance sheet as a core treasury asset.
  • related derivatives positions: Financial contracts tied to an asset's price that can be sold or closed alongside the underlying holding.
  • share repurchase program: A company plan to buy back its own shares from the market.