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Nakamoto's Q1: Sixfold Revenue, Net Loss, Bitcoin Focus
Description
Nakamoto, a Bitcoin company, reported a sixfold increase in revenue due to acquisitions of BTC Inc. and UTXO Management, but still posted a net loss of $238.8 million. The surge in revenue came from Bitcoin treasury and derivatives plays, while losses were primarily due to a non-cash charge and a drop in Bitcoin holdings. The company plans to focus on Bitcoin core strategies, scale trading, use holdings for yield plays, and shut down its healthcare side by Q2. Shares ticked up after hours, indicating investor optimism.
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