Nakamoto sells 284 BTC at about $70K, taking ~40% loss to fund operations amid treasury pivot

Nakamoto disclosed in a Form 10‑K filed March 30 that it sold approximately 284 BTC in March for about $20 million, implying an average sale price near $70,422 per coin ^{[1] [2] [3]}.

The company’s weighted‑average acquisition cost was roughly $118,171 per BTC, meaning the March sale was executed at about a 40% loss versus its cost basis; management said proceeds would replenish working capital and fund operations following recent acquisitions ^{[4] [3]}.

The sale represented roughly 5% of Nakamoto’s bitcoin holdings and underscored liquidity pressures as the firm pivots to a bitcoin treasury strategy; the filing also reflected substantial 2025 digital‑asset fair‑value losses and followed a year of heavy accumulation after launching the strategy in August 2025 ^{[5] [4] [1]}.

Shares fell more than 7% on the liquidation news before partially rebounding after hours, and the company said it is winding down legacy operations as it reorients its business mix ^[4].

Nakamoto’s filing shows a tactical reduction of its bitcoin position to address cash needs amid a broader strategic shift to a bitcoin treasury model, with the company absorbing notable mark‑to‑market losses in the process ^{[1] [3] [5]}.