Bitcoin treasury firm Nakamoto saw its stock reach a new all-time low on Thursday after reporting a $239 million net loss for the first quarter.
Nakamoto sold additional bitcoin holdings during the period. The results came shortly after the company completed its acquisition of BTC Inc. and UTXO Management in Q1.
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Exodus Movement sold more than 1,000 bitcoin in the first quarter to raise cash for its payments acquisitions. The company reported a wider net loss as revenue declined sharply.
Strategy, the largest corporate holder of bitcoin, reported a $12.77 billion net loss for the first quarter while its bitcoin holdings grew. Chief executive Michael Saylor signaled the company may sell some of its bitcoin to stabilize the market.
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CleanSpark posted a net loss of $378.3 million for the quarter ending March 31, more than double the prior year's figure, as a non-cash bitcoin adjustment weighed on results.
Bitcoin fell 1.7% to around $67,600 on Tuesday, influenced by rising geopolitical concerns and outflows from exchange-traded funds. The cryptocurrency's price movement mirrored declines in equity futures, highlighting its growing ties to broader market sentiment. Investors are showing caution due to tensions around Iran and uncertainties in AI's economic role and Federal Reserve policies.