PANews reported on May 14th, citing Cointelegraph, that Bitcoin company Nakamoto released its first-quarter financial report, showing a 500% quarter-over-quarter increase in revenue, but a net loss of $238.8 million. This was primarily due to a $107.7 million non-cash impairment charge related to pre-acquisition options and a $102.5 million unrealized loss on a 5,058 Bitcoin holding. Of Nakamoto's earnings, over $1.1 million came from his new Bitcoin treasury and derivatives strategy, $800,000 from his media business, $500,000 from his healthcare business, and $200,000 from asset management services.

The company completed its acquisition of Bitcoin news agency BTC Inc. and investment platform UTXO Management in February, with these businesses contributing some revenue. The company did not buy any Bitcoin in the first quarter, but sold 284 Bitcoins on March 31 for operating expenses. Nakamoto's stock price has fallen more than 99% this year, before rising slightly by 2.7% to $0.18 in after-hours trading. The company plans to completely divest its healthcare business by the end of the second quarter and will utilize its Bitcoin holdings to conduct derivatives strategies to generate returns.