Nakamoto has restructured its Kraken loan agreement, extending the maturity date on $60 million in debt from December 4, 2026, to December 4, 2027. The remaining $105 million is due June 30, 2027, deferring all principal payments beyond this year.
The Bitcoin-native holding company, founded by David Bailey, initially borrowed $210 million in December 2025. The firm reduced its debt by $45 million in June through Bitcoin and derivatives sales, leaving $165 million outstanding.
Under the amended agreement, Nakamoto will now include the net value of its Bitcoin derivatives positions held in its Kraken trading account as collateral, subject to specified limits. According to Nakamoto's latest quarterly report, the company pledged 3,030 of its 4,283 BTC holdings to Kraken by the end of September.
Tyler Evans, Chief Investment Officer of Nakamoto, stated that the extension "gives us more flexibility to manage through Bitcoin price volatility so we can put our full attention on what we control: building our operating businesses and managing our Bitcoin holdings."
At the time of Nakamoto's September report, the pledged Bitcoin was valued at approximately $253 million when BTC traded near $83,500. At current price levels of $69,334, the collateral value is roughly $210 million, representing approximately 127% of the outstanding loan amount.
