Nakamoto Inc. Sells 284 BTC at 40% Loss While BitMine Reveals $10.7B in Reserves
Nakamoto Inc. sold 284 BTC at a steep discount, booking a loss exceeding 40%. Meanwhile, BitMine Immersion Technologies disclosed crypto reserves totaling $10.7 billion, including nearly 4% of Ethereum's total supply.
Nakamoto Inc. Takes a 40% Hit on Bitcoin Sale
Public company Nakamoto Inc. disclosed the sale of 284 BTC in March at an average price of $70,422 per coin, generating approximately $20 million in proceeds. The original average acquisition cost for these coins was $118,171, meaning the company locked in a loss exceeding 40%.
The funds will be used to support ongoing business operations following a series of recent corporate mergers.
Why This Matters
A publicly traded company selling bitcoin at such a steep discount underscores the financial strain that corporate BTC holders faced after the market downturn. Nakamoto's 2025 fiscal year was particularly harsh: net losses ballooned to $52.2 million, up from $3.6 million the prior year. By the end of 2025, bitcoin had fallen to $87,519, triggering reserve revaluations that cost the company $166.2 million.
Nakamoto still holds digital assets worth $467.5 million on its balance sheet, including 1,625 BTC.
Nakamoto's Strategic Pivot
CEO David Bailey announced a fundamental strategy shift in the Q4 2025 earnings report. The company will completely exit its healthcare division, which saw revenue shrink to just $1.8 million in 2025.
Going forward, Nakamoto will focus on integrating recently acquired assets — bitcoin media outlet BTC Inc and investment fund UTXO Management. Bailey indicated that the leadership team will continue scouting for attractive acquisition targets.
BitMine Discloses $10.7 Billion in Total Reserves
U.S.-based BitMine Immersion Technologies published an updated breakdown of its holdings, revealing $10.7 billion in total reserves. The portfolio includes 4.73 million ETH, 197 BTC, and $961 million in fiat currencies. Additionally, the company holds $200 million in Beast Industries securities and $102 million in Eightco Holdings shares.
"🧵1/ BitMine provided its latest holdings update for March 30, 2026: $10.7 billion in total crypto + 'moonshots': — 4,732,082 ETH at $2,005 per ETH (@coinbase) — 197 Bitcoin (BTC) — $200 million stake in Beast Industries @MrBeast — $102 million…" — Bitmine (NYSE-BMNR) $ETH (@BitMNR), original post
BitMine currently controls 3.92% of Ethereum's total circulating supply and has set a target of reaching 5%.
Institutional Staking and Heavyweight Backers
The company's investment strategy is backed by major institutional players, including Cathie Wood's entities, Founders Fund, Pantera Capital, Kraken, and Galaxy Digital.
In late March, BitMine launched its institutional staking platform MAVAN. The company has already locked 3.14 million ETH worth $6.3 billion in the network. Chairman of the board Tom Lee stated that annual revenue from validator operations reached $177 million. He also pointed to the market emerging from a localized crypto winter. Against this backdrop, BitMine ramped up its Ethereum purchasing pace to 71,179 coins per week.
For context, bitcoin miner MARA Holdings sold 15,133 BTC for approximately $1.1 billion between March 4 and March 25.
Frequently Asked Questions
How many BTC did Nakamoto Inc. sell and at what loss?
Nakamoto Inc. sold 284 BTC at an average price of $70,422 per coin, while the original purchase price averaged $118,171. This resulted in a realized loss exceeding 40%, with total proceeds of approximately $20 million.
How much Bitcoin does Nakamoto Inc. still hold?
Nakamoto retains 1,625 BTC on its balance sheet as part of total digital assets valued at $467.5 million. The company reported a net loss of $52.2 million for 2025.
How much Ethereum does BitMine own?
BitMine Immersion Technologies holds 4,732,082 ETH, representing 3.92% of Ethereum's total supply. The company has set a goal to increase this share to 5%.
What is BitMine's MAVAN staking platform?
MAVAN is an institutional staking platform launched by BitMine in late March. The company has already staked 3.14 million ETH worth $6.3 billion, generating $177 million in annual validator revenue.
Who are BitMine's institutional backers?
BitMine's investment strategy is supported by Cathie Wood's entities, Founders Fund, Pantera Capital, Kraken, and Galaxy Digital. These major institutional players provide significant backing for the company's Ethereum accumulation strategy.
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