Nakamoto sold $20 million worth of Bitcoin and exited Metaplanet at a loss, worsening financial pressure

Gate News reports that the Bitcoin vault company Nakamoto (formerly KindlyMD) sold approximately 284 bitcoins in March 2026, totaling about $20 million, at an average price of roughly $70,400—about a 20% discount compared to its estimated $87,519 at the end of 2025. Following this reduction, the company’s bitcoin holdings decreased to approximately 5,058 BTC, down from previous levels. The company stated that the proceeds from the sale will be used for business investments and to supplement working capital related to mergers and acquisitions.

Meanwhile, Nakamoto also reduced its holdings in Metaplanet shares during the first quarter, incurring a loss. The company had previously purchased 8 million shares at $3.75 each, totaling around $30 million, but in this quarter sold 5 million shares at approximately $2.22 each, recovering only about $11.1 million. This investment has been written down, with unrealized losses of about $9.29 million, and its book value has decreased to roughly $20.7 million.

Financial data indicates that, due to the bitcoin price falling below its average cost basis, the company expects to record a related loss of $166.2 million in 2025, with a full-year net loss of approximately $52.2 million. The volatility of crypto assets has significantly impacted its balance sheet, highlighting the risks associated with highly concentrated holdings.

Regarding its business strategy, Chairman David Bailey stated that the company will gradually exit its traditional healthcare operations and shift focus toward integrating newly acquired assets such as BTC Inc and UTXO Management to strengthen its position in the crypto sector. This transition reflects the company’s attempt to reshape its growth trajectory, though short-term pressures remain.

In the capital markets, Nakamoto’s stock performance has been weak: since the beginning of 2026, it has declined about 40%, with an 80% drop over the past six months. The current share price is approximately $0.21, far below the mid-2025 peak. Previously, due to the stock price remaining below the $1 threshold for an extended period, the company received a compliance warning and must improve its performance within the specified timeframe or face delisting risks.