Nakamoto Options Loss Turns Q3 Operating Revenue Negative
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Nakamoto reported negative Q3 operating revenue after losses on its options program outweighed gains elsewhere, even as bitcoin valuation gains lifted net profit to $85.5 million. The company said part of the loss-making options strategy provides downside protection tied to collateral for its Kraken loan. The result highlights how crypto treasury and derivatives exposure can swing reported operating results for bitcoin-focused firms. Investors will watch whether Nakamoto restructures or winds down the options program and how its Kraken loan collateral performs in the next quarter.
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Nakamoto, Bitcoin (BTC), Kraken
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