Crypto firm Nakamoto just scored more time to pay back its $165 million debt to Kraken, moving a $60 million payment from December 4, 2026 to December 4, 2027.
The update, filed with the Securities and Exchange Commission this week, gives Nakamoto some extra breathing room as it navigates a rocky crypto market.
Nakamoto pledges 3,030 BTC as collateral
Nakamoto's stock is currently at $5.79, putting its value around $104 million, even with Bitcoin prices bouncing up and down lately. Most of Nakamoto's Bitcoin (about 3,030 BTC or $208.5 million) is pledged as collateral for the loan.
The new deal lets Kraken also calculate collateral maintenance and margin requirements based on the net position in the Bitcoin derivative, which could help keep things safer for both sides.
Chief Investment Officer Tyler Evans says this extension helps Nakamoto stay flexible and manage risk better during uncertain times.