Bitcoin Firm Nakamoto Extends Debt Deal as Stock Valuation Takes a Hit

Bitcoin treasury firm Nakamoto has amended its $165 million debt agreement with Kraken, extending the deadline for a $60 million repayment by one year. The revised terms come as the company’s market capitalisation has fallen to approximately $104 million, below its outstanding loan balance. Nakamoto has pledged 3,030 BTC as collateral, currently valued at around $208.5 million based on Bitcoin’s market price. The agreement also allows Kraken to account for Bitcoin derivative positions when calculating collateral maintenance and margin requirements.

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