The Bitcoin treasury company $NAKA sold about 600 $BTC plus related derivative positions, raising roughly $48M to pay down $45M of debt. That leaves it with about 4,467 BTC.
At the same time, its board authorized up to $25M in stock buybacks through year-end.
Sell the Bitcoin, authorize the buyback. Read that twice.
It also gained time. A new loan deal with Kraken's Payward unit pushes about $105M of principal out to June 2027, though $60M still comes due this December.
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