Nakamoto's stock plummets 67% this year following 1-for-40 reverse split implementation
Shares of Bitcoin treasury firm NAKA keep declining even after implementing a 1-for-40 reverse stock split designed to maintain compliance with Nasdaq's listing requirements.
Shares of Nakamoto (NAKA) experienced a decline exceeding 10% on Wednesday, occurring mere days following the Bitcoin treasury firm's execution of a 1-for-40 reverse stock split designed to maintain alignment with the listing requirements mandated by the Nasdaq stock exchange.
Year-to-date (YTD), NAKA shares have experienced a decline of approximately 67%, and have lost over 99% of their value since reaching a peak of roughly $34 per share in May 2025, bottoming out at approximately $0.16 per share during April prior to Friday's reverse stock split implementation.
According to a filing with the Securities and Exchange Commission (SEC), Nasdaq issued a warning to the company in December indicating that delisting procedures would commence following the stock's trading performance below the $1 threshold for a minimum of 30 consecutive trading days.
According to company data, the reverse split brought down the total number of outstanding shares to approximately 17.4 million from roughly 696 million.
At the time this article was published, NAKA had not responded to Cointelegraph's request for comment.
NAKA's valuation decline occurs during a broader downturn affecting the Bitcoin treasury sector that commenced in 2025; nevertheless, the firm's performance has lagged behind industry leaders such as Strategy (MSTR), Twenty-One Capital (XXI) and Strive Asset Management (ASST).
According to Bitcoin Treasuries data, the company holds 5,058 Bitcoin, positioning it as the 20th largest publicly traded BTC treasury company.
BTC treasury companies show signs of recovery, but market remains challenging
As measured by Bitcoin holdings, Strategy stands as the largest Bitcoin treasury company and has gained approximately 2.5% YTD, with shares currently trading around $155 per share.
Holding 43,514 coins and ranking as the second-largest publicly traded BTC treasury, Twenty-One Capital has declined more than 17% YTD, with shares currently trading around $7.26 per share.
Meanwhile, Strive has gained over 20% YTD, with its most recent trading price at approximately $17.72 per share.
According to venture firm Pantera Capital, the digital asset treasury space is poised for consolidation throughout 2026, with larger companies anticipated to acquire smaller firms.
2026 will see brutal pruning. In each major asset class, only one or two players will dominate. Everyone else gets acquired or left behind,
analysts at Pantera forecast in January