Nakamoto reported a net loss of nearly $239 million in the first quarter, including approximately $103 million in impairment losses on its Bitcoin holdings.

CoinFeed reported on May 14th, citing Cointelegraph, that Bitcoin company Nakamoto released its first-quarter financial report, showing a 500% quarter-over-quarter increase in revenue, but a net loss of $238.8 million. This was primarily due to a $107.7 million non-cash impairment charge related to pre-acquisition options and a $102.5 million unrealized loss on a 5,058 Bitcoin holding. Of Nakamoto's revenue, over $1.1 million came from its new Bitcoin treasury and derivatives strategy, $800,000 from its media business, $500,000 from its healthcare business, and $200,000 from asset management services. The company completed its acquisitions of Bitcoin news agency BTC Inc. and investment platform UTXO Management in February, with these businesses contributing to its revenue.