Nakamoto holds 4,283 bitcoins in Q3, debt extended to 2027

Nakamoto (Nasdaq: NAKA) reported holding 4,283 BTC, worth about $357.9 million at fair value as of September 30, of which 3,030 BTC are pledged as collateral against notes payable and 1,253 BTC remain unencumbered. The bitcoin treasury company posted negative total operating revenue of $1.9 million for the quarter, including $3.9 million from operations and a $5.8 million net derivative loss as rising bitcoin prices reduced the value of its derivative positions, while fair-value gains on its BTC holdings of $110.3 million lifted operating income to $105.6 million and left an adjusted operating loss of $6.5 million. The balance sheet showed $19.4 million in cash, $164.9 million in total debt, a 41% net digital-asset leverage ratio and an enterprise value of $319 million. On November 11 Nakamoto amended its 165 million USDT loan agreement with Kraken, extending the maturity of 60 million USDT to December 4, 2027 from December 4, 2026, while the remaining 105 million USDT still matures June 30, 2027, leaving no principal repayments planned in 2026; the amendment also lets the net value of derivative positions in the collateral account count toward margin requirements. The company also launched Bitcoin Magazine TV on September 14 and hosted Bitcoin Asia 2026 in Hong Kong on August 27-28, which generated $2.5 million in third-party revenue.