Nakamoto Inc. Sells 600 BTC, Refinances Kraken Debt, Authorizes $25M Buyback

Nakamoto Inc. is cleaning house, offloading 600 BTC for roughly $48 million to pay down $45 million in debt owed to Kraken. This move trims their holdings to about 4,467 BTC, but shores up their balance sheet. The company also managed to extend its Kraken loan maturities to 2026 and 2027, locking in a slightly lower interest rate of 7.75% and saving an estimated $4 million annually in financing costs. On top of that, Nakamoto's board authorized a $25 million share repurchase program, signaling confidence and a potential boost for NAKA stock. This aggressive deleveraging and capital return strategy comes after the company regained compliance with Nasdaq's minimum bid price rule.