Bitcoin Treasury Company Nakamoto Stock Falls Nearly 67% in 2026 After Reverse Split

Bitcoin treasury company Nakamoto (NAKA) saw its stock fall more than 10% on May 27, adding to a difficult year for the firm after completing a 1-for-40 reverse stock split aimed at maintaining its Nasdaq listing.

NAKA shares are now down nearly 67% year to date and have dropped more than 99% since reaching a peak of around $34 per share in May 2025. Before the reverse split took place last Friday, the stock had fallen to nearly $0.16 per share in April.

The company carried out the reverse split after Nasdaq warned in December that its shares could be removed from the exchange for trading below $1 for at least 30 consecutive days, according to a filing with the US Securities and Exchange Commission.

The move reduced Nakamoto’s outstanding shares to around 17.4 million from nearly 696 million.

Nakamoto Holds More Than 5,000 Bitcoin

Despite its stock struggles, Nakamoto remains one of the larger publicly traded Bitcoin treasury firms. The company currently holds 5,058 Bitcoin, making it the 20th largest public company holding BTC, based on industry tracking data.

The company has also faced financial pressure this year. Earlier reports showed Nakamoto recorded a net loss during the first quarter despite posting sixfold revenue growth.

Bitcoin Treasury Sector Faces Tough Market Conditions

Nakamoto’s decline comes during a broader slowdown across the Bitcoin treasury sector in 2026, although some larger firms have performed better.

Strategy, the biggest corporate Bitcoin holder, is up roughly 2.5% this year, while Twenty One Capital has fallen more than 17% year-to-date. Strive Asset Management has gained over 20% during the same period.

Market analysts believe the sector could face consolidation in 2026, with stronger companies likely acquiring smaller players as competition increases.