OneMedNet reported a $3.41 million working-capital deficit as equity became its clearest disclosed funding path.
The OneMedNet treasury’s Bitcoin holdings reached zero at June 30, 2026, completing a steady drawdown of the healthcare-data company’s cryptocurrency holdings.
The company’s quarterly report for the period ended June 30, 2026 also listed $358,000 of cash, $4.73 million of current liabilities and a warning that existing liquidity was insufficient to fund operations for the following 12 months.
Its cash-flow record is separate from those point-in-time Bitcoin holdings. OneMedNet reported $969,000 of Bitcoin sale proceeds for all of 2024, then $5.07 million of sales and $2.75 million of purchases in 2025. It reported $419,000 of sale proceeds and no Bitcoin purchases in the first half of 2026.
By Dec. 31, 2025, reported holdings had already fallen to six BTC. Most of the Bitcoin treasury’s decline therefore predated the $419,000 of first-half 2026 proceeds, which covered only the final stage of the unwind rather than the approximately 34 BTC announced in 2024.
Management has said it routinely sells treasury Bitcoin to fund operations as needed. However, the filings do not trace particular sale proceeds to named operating expenses, leaving the destination of individual dollars unestablished.
The latest filing also does not go as far as to say that OneMedNet formally abandoned its Bitcoin strategy. It describes the 2026 sales as part of that strategy, even as its wording shifted from saying the company “has adopted” the policy in the first quarter to “previously adopted” in the second-quarter report. The policy’s current status is therefore unresolved after the balance reached zero.
With the OneMedNet treasury exhausted and cash thin, the company said continued operations require additional external financing. Equity provides a disclosed route to that capital, but further stock sales would shift more of the liquidity burden to shareholders through dilution.