Nakamoto Records Significant Losses on Bitcoin and Metaplanet Holdings

Nakamoto, the company behind the Bitcoin treasury, has taken two major steps that could impact its financials. The first is the sale of $20 million worth of Bitcoin in March. According to reports, Nakamoto sold approximately 284 coins for an average price of $70,400 per coin.

This sale comes with a catch - it was made at a discount to the company's year-end valuation. Specifically, Nakamoto valued its Bitcoin holdings at $87,519 per coin in December 2025, when it held 1,625 BTC worth $142.2 million. By selling them for $70,400, Nakamoto is effectively taking a 20% hit on their value.

The second major development is the sale of a significant portion of its Metaplanet position at a loss. Nakamoto had acquired eight million shares at $3.75 each, for a total cost of about $30 million. However, it sold five million shares for roughly $11.1 million, implying a price of $2.22 per share.

The sale of both Bitcoin and Metaplanet shares could have significant implications for Nakamoto's financials. The company is already facing challenges, with its shares down by 80% in the past six months. Its net loss for 2025 was $52.2 million, with a substantial portion coming from changes in the fair value of its crypto holdings.