Add as a preferred source on GoogleNakamoto Posts $85.5 Million Q3 Profit With 4,283 Bitcoin Held
A $110.4 million noncash fair-value gain on digital assets drove the profit, while total revenue was negative $1.9 million.
Nakamoto Inc. posted $85.5 million in third-quarter net income and held 4,283 Bitcoin (BTC) at Sept. 30, as a large noncash valuation gain drove its results.
The company recorded $110.4 million in noncash fair-value gains on digital assets. Revenue from operating businesses was $3.9 million, while derivatives generated a $5.8 million net loss, leaving total revenue at negative $1.9 million.
Nakamoto’s Bitcoin holdings were valued at about $357.9 million at quarter-end. Of the total, 3,030 BTC were pledged as collateral for notes, while 1,253 BTC were unencumbered.
The company also held $19.4 million in cash and cash equivalents and had about $164.9 million in notes payable as of Sept. 30.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.