Nakamoto
Nakamoto Inc. (NASDAQ: NAKA) is a publicly traded Bitcoin operating company that combines Bitcoin media (BTC Inc, Bitcoin Magazine, The Bitcoin Conference), asset management (UTXO Management, ~$109.5M AUM), and advisory services to corporate Bitcoin treasury companies, anchored by a 5,398 BTC treasury.
- Company typePublic
- Founded2025
- HeadquartersMurray, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Nakamoto does
Nakamoto Inc. (NASDAQ: NAKA) is a publicly traded Bitcoin operating company headquartered in Nashville, Tennessee, organized around three integrated business verticals: Media & Information Services, Financial & Asset Management Services, and Advisory & Consulting Services. The Media vertical is operated through wholly owned subsidiary BTC Inc., which runs 27 media brands including Bitcoin Magazine (the longest-running Bitcoin publication, since May 2012), The Bitcoin Conference (the largest global Bitcoin event series with approximately 67,000 attendees in 2025), and the Bitcoin for Corporations membership platform with 40+ member companies anchored by a 5-year brand partnership with Strategy Inc. The Asset Management vertical is operated through UTXO Management GP, LLC, a Bitcoin-native investment adviser managing approximately $109.5 million in AUM across vehicles including the 210k Capital LP hedge fund and the newly launched UTXO Preferred Income Strategies LP. The Advisory vertical provides consulting on capital formation, regulation, and scale to Bitcoin-native and adjacent companies.
The company's core technology architecture combines a Bitcoin-denominated balance sheet (5,398 BTC as of November 2025 at a weighted average of $118,204.88, valued at approximately $286.7 million as of June 2026) with a Q1 2026-launched actively managed Bitcoin Derivatives Program. The derivatives program uses covered calls, call spreads, protective puts, and put spreads executed through a separately managed account managed by Bitwise Asset Management, with Kraken providing qualified custody for the Bitcoin collateral and derivatives venue services. The company monetizes through recurring subscription and membership fees (BTC Inc media and BFC), event ticket and sponsorship sales, asset management fees on UTXO vehicles, advisory retainers, and usage-based derivatives premium income.
Nakamoto's revenue model combines subscription/recurring streams (BTC Inc ~$65.3M and UTXO ~$18.2M for the 12-month period ending September 2025, totaling ~$80.5M) with usage-based derivatives income and professional-services advisory fees. The company was formed through the August 2025 merger of KindlyMD, Inc. with Nakamoto Holdings Inc. (raising $540M PIPE + $200M convertible notes), rebranded from KindlyMD to Nakamoto Inc. in January 2026, acquired BTC Inc and UTXO Management in February 2026 for ~$81.6M in stock, completed a 1-for-40 reverse stock split in May 2026, and wound down its legacy healthcare clinics in June 2026 to complete its transition to a pure-play Bitcoin operating company.
Nakamoto firmographics
Firmographics- Name
- Nakamoto
- Legal name
- Nakamoto, Inc.
- Website
- https://nakamoto.com
- Company type
- Public
- Founded year
- 2025
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Nakamoto Inc. (NASDAQ: NAKA) is a publicly traded Bitcoin operating company that combines Bitcoin media (BTC Inc, Bitcoin Magazine, The Bitcoin Conference), asset management (UTXO Management, ~$109.5M AUM), and advisory services to corporate Bitcoin treasury companies, anchored by a 5,398 BTC treasury.
- Ownership category
- akta.pro rank
Nakamoto industry classification
Industry- Product category
- Bitcoin Financial Services
- NAICS
- Miscellaneous Financial Investment Activities (523999), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Other Financial Vehicles (525990)
- SIC
- Investment Advice (6282), Finance Services (6199), Asset-Backed Securities (6189)
- akta.pro primary industry
- Treasury Management & Corporate Crypto Yield Programs (FSADAHAL)
- akta.pro secondary industries
- Index-Tracking Funds, ETPs & Structured Index Products (Crypto) (FSADAHAC), Structured Products & Notes (Yield/Principal-Linked) (FSADAGAD), Collateral Management & Margining (FSADAJAF)
Keywords
Where Nakamoto is headquartered
LocationHeadquarters
- HQ city
- Murray
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Nakamoto business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Media and Information Services: Revenue generated through BTC Inc operations including Bitcoin Magazine subscriptions and advertising, event ticket sales and sponsorships for The Bitcoin Conference series, and Bitcoin for Corporations membership fees. BTC Inc generated approximately $65.3 million in revenue for the 12-month period ending September 2025.
- Asset Management Fees: Management fees from UTXO Management's adviser role to 210k Capital LP hedge fund and other investment vehicles. UTXO generated approximately $18.2 million in revenue for the 12-month period ending September 2025.
- Derivatives Income: Volatility income generated through covered call and put spread strategies using Bitcoin holdings as collateral. Income sleeve writes covered calls and call spreads to collect premium; hedging sleeve purchases protective puts for downside protection.
- Advisory and Consulting Services: Consulting and advisory services provided to Bitcoin-native and adjacent companies on capital formation, regulation, and scaling. Designed to generate recurring revenue streams.
Go-to-market motion2 records
Distribution channels4 records
Marketing channels6 records
Nakamoto product offering
Product offeringCore offering
Nakamoto Inc. operates an integrated Bitcoin company structured around three verticals: (1) Media & Information Services through subsidiary BTC Inc (Bitcoin Magazine subscription media, The Bitcoin Conference series, and Bitcoin for Corporations membership platform); (2) Financial & Asset Management Services through subsidiary UTXO Management, advising 210k Capital LP hedge fund and structured products like UTXO Preferred Income Strategies LP; and (3) Advisory & Consulting Services to Bitcoin-native and adjacent companies on capital formation, regulation, and scaling. The company's Bitcoin-denominated balance sheet is reinforced by a Bitcoin derivatives program using covered calls and protective puts to generate volatility income.
Product overview
Nakamoto Inc. is structured as an integrated Bitcoin company organized into three business verticals: Media & Information Services, Financial & Asset Management Services, and Advisory & Consulting Services. The company operates through wholly owned subsidiaries BTC Inc. (media and events) and UTXO Management (asset management), along with subsidiary funds like 210k Capital, LP. Key products include Bitcoin Magazine, The Bitcoin Conference, and Bitcoin for Corporations under BTC Inc., plus the recently launched Bitcoin Derivatives Program and BM TV. The company maintains a Bitcoin-denominated balance sheet with approximately 4,467 BTC as of June 2026.
Differentiator
Problem solved
Functional benefit
Brands
- BTC Inc: Leading Bitcoin media and events company operating 27 media brands, Bitcoin Magazine, The Bitcoin Conference, and Bitcoin for Corporations
- UTXO Management
- The Bitcoin Conference
- Bitcoin Magazine
- Bitcoin for Corporations
- BM TV
Products and services
- Bitcoin Magazine The longest-running source of Bitcoin news, information, and expert commentary, first published in May 2012 as part of BTC Inc's portfolio of 27 media brands. Subscription media targeting Bitcoin enthusiasts, retail investors, and institutional readers globally.
- The Bitcoin Conference
Companies that use Nakamoto
Customer profileNamed customers2 records
Segments4 records
Ideal customer profiles3 records
Nakamoto technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
Feature2 records
Nakamoto partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered strategic, core and minor.
- UTXO Preferred Income Strategies LPstrategicNew dual-class structured income fund targeting digital credit preferred securities. First structured credit product from UTXO Management extending platform into institutionally serviced income vehicles.
- Bitwise Asset ManagementcoreBitwise Asset Management serves as the separately managed account (SMA) manager for Nakamoto's Bitcoin derivatives program. Manages covered calls, call spreads, protective puts, and put spreads against Nakamoto's Bitcoin holdings to generate volatility income and hedge downside exposure.
- KrakencoreKraken provides qualified custody solution for Bitcoin holdings used as collateral for derivatives strategies. Also serves as financing partner with Payward Interactive (Kraken) providing USDT loans. Extended approximately 105 million USDT principal to June 2027 at 7.75% interest rate.
- BTC InccoreCompleted acquisition of BTC Inc as wholly owned subsidiary. World's largest Bitcoin media company operating Bitcoin Magazine, The Bitcoin Conference, and Bitcoin for Corporations. Acquisition valued at approximately $81.6 million in Nakamoto common stock.
- UTXO Management GP, LLCcoreCompleted acquisition of UTXO Management as wholly owned subsidiary. Bitcoin-focused investment adviser managing 210k Capital LP hedge fund and other investment vehicles. Acquisition valued at approximately $81.6 million in Nakamoto common stock.
- Strategy Inc.strategic5-year brand partnership with Strategy Inc. (formerly MicroStrategy) for hosting networking events and educational content through Bitcoin for Corporations platform.
- AntalphastrategicStrategic partnership with Antalpha (NASDAQ: ANTA) to develop innovative financing tools for Bitcoin treasury companies. Intent to establish $250 million convertible debt facility. Partnership includes non-binding LOI for secured convertible notes and interim Bitcoin-backed loan.
- Metaplanet Inc.strategic$30 million strategic investment in Metaplanet, Japan's leading Bitcoin treasury company (TSE: 3350). Investment made through Nakamoto subsidiary. Later reduced at loss during Q1 2026.
- Treasury BVminor$15 million investment in Treasury BV, a Bitcoin treasury company based in the Netherlands. Marked Nakamoto's first investment in a foreign publicly listed Bitcoin company.
- Anchorage DigitalstrategicStrategic partnership involving custody and trading services for Bitcoin treasury operations in connection with Nakamoto merger. Anchorage Digital provides institutional-grade custody infrastructure.
Scale indicators13 records
Recent moves10 records
Expansion highlights6 records
Nakamoto competitors and assessment
Company assessmentDirect peers
- Strategy Inc. (MicroStrategy): The original and largest corporate Bitcoin treasury company and Nakamoto's marquee 5-year BFC brand partner. Both hold Bitcoin as primary treasury reserve and pursue Bitcoin-denominated capital strategies; Strategy is the gravitational center of the ecosystem Nakamoto is building services around.
- Metaplanet Inc. Japan's leading Bitcoin treasury company (TSE: 3350) and a recipient of a $30M strategic investment from Nakamoto. Operates a similar corporate Bitcoin accumulation model in Asia and is a direct comp for cross-border Bitcoin treasury strategy execution.
- Twenty One Capital: Bitcoin-native capital company backed by Cantor Fitzgerald, Tether, and SoftBank pursuing a similar public-company Bitcoin treasury model. Direct competitor for the corporate Bitcoin adoption wave that Nakamoto's BFC platform is built to serve.
Broad incumbents
- Galaxy Digital: Established crypto-focused financial services firm spanning asset management, trading, and advisory. Comparable to UTXO Management's investment vehicle offering and Nakamoto's broader media/advisory flywheel, but at materially larger AUM scale and broader product breadth.
- Coinbase Global: Leading publicly traded crypto financial infrastructure and trading platform. Overlaps with Nakamoto on custody (Kraken-adjacent), exchange-listed crypto products, and institutional Bitcoin services, though Coinbase is a much broader consumer and institutional venue.
- Marathon Digital Holdings: Public Bitcoin miner and large-scale BTC holder that has pursued treasury-driven strategies. Comparable as a public-market vehicle with significant Bitcoin holdings and a need for capital markets, advisory, and media engagement similar to Nakamoto.
- Riot Platforms: Large public Bitcoin miner and holder building Bitcoin-denominated treasury and infrastructure strategies. Comparable in being a public company with material Bitcoin holdings and a similar investor base evaluating treasury and operating performance.
Emerging players
- Bitwise Asset Management: Bitcoin-focused asset manager that runs Nakamoto's derivatives SMA and is a key operational partner. Comparable to UTXO Management in product category (Bitcoin-native asset management, ETPs, separately managed accounts) and a potential future competitor or acquirer of similar mandates.
- Anchorage Digital: Federally chartered crypto custodian providing institutional custody infrastructure for Nakamoto. Overlaps in serving institutional Bitcoin treasuries, and is a direct counterpart in the custody stack Nakamoto depends on.
- CoinShares: European crypto asset manager offering ETP products and institutional-grade investment vehicles. Closely comparable to UTXO Management in providing Bitcoin-native asset management services, though at a more established scale and broader product set.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key highlights7 records
Customer concentration
Nakamoto social profiles
Digital presenceNakamoto financial estimates
Financial estimateRevenue estimate
Valuation estimate
Nakamoto leadership team
Management profileNumber of profiles
Profiles12 records
Nakamoto subsidiaries and ownership
Company hierarchySubsidiaries6 records
Nakamoto funding detail
Funding detailFunding overview
Funding rounds6 records
Investors11 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Nakamoto M&A and investment
M&A and investmentM&A4 records
Investments2 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Nakamoto
What does Nakamoto do?
Nakamoto Inc. operates an integrated Bitcoin company structured around three verticals: (1) Media & Information Services through subsidiary BTC Inc (Bitcoin Magazine subscription media, The Bitcoin Conference series, and Bitcoin for Corporations membership platform); (2) Financial & Asset Management Services through subsidiary UTXO Management, advising 210k Capital LP hedge fund and structured products like UTXO Preferred Income Strategies LP; and (3) Advisory & Consulting Services to Bitcoin-native and adjacent companies on capital formation, regulation, and scaling. The company's Bitcoin-denominated balance sheet is reinforced by a Bitcoin derivatives program using covered calls and protective puts to generate volatility income.
Is Nakamoto a public or private company?
Nakamoto is a public company. It is classified as public and is currently operating.
When was Nakamoto founded?
Nakamoto was founded in 2025. It employs 1 to 10 people.
Where is Nakamoto based?
Nakamoto is headquartered in Murray, United States, in the North America region.
How does Nakamoto make money?
Four revenue lines are on record. Media and Information Services are the primary driver. The others are asset Management Fees, derivatives Income and advisory and Consulting Services.
Who are Nakamoto's main competitors?
Direct peers on record are Strategy Inc. (MicroStrategy), Metaplanet Inc. and Twenty One Capital. Broad incumbents are Galaxy Digital, Coinbase Global, Marathon Digital Holdings and Riot Platforms. Emerging players are Bitwise Asset Management, Anchorage Digital and CoinShares.
Does Nakamoto have an API?
No public API is recorded for Nakamoto.
What industry is Nakamoto in?
Nakamoto's product category is Bitcoin Financial Services. Its primary akta.pro industry code is FSADAHAL, Treasury Management & Corporate Crypto Yield Programs, with a secondary code of FSADAHAC, Index-Tracking Funds, ETPs & Structured Index Products (Crypto). Its NAICS code is 523999 and its SIC code is 6282.