Nakamoto, a company listed on Nasdaq, saw its stock price drop by 6.5% during premarket trading on Friday. By 12:02 pm UTC, shares were trading at $5.40, marking a 62% decline since the beginning of the year.
The company reported a negative operating revenue of $1.9 million for the third quarter. This result followed a $5.8 million loss on Bitcoin options, which offset the $3.9 million generated from its core business operations.
Analysts had previously projected revenue of approximately $17.4 million for the quarter. Despite the operating loss, Nakamoto posted a net income of $85.5 million, largely driven by a $110.4 million gain from the revaluation of its digital asset holdings.
As of September 30, the company held 4,283 BTC, valued at $357.9 million. This represents a decrease from the 4,467 BTC held by the firm at the end of June.
