Nakamoto extends Kraken loan, pushes 105 million USDT maturity to June 2027

Nakamoto Inc.

Nakamoto Inc.

NAKA

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  • Nakamoto entered a new loan term sheet with Kraken under its Master Loan Agreement, covering a remaining outstanding balance of USDT 165 million.
  • USDT 105 million of principal was extended to June 30, 2027; USDT 60 million is set to mature on Dec. 4, 2026.
  • Interest rate set at 8% to 7.75%, tied to maintaining 2,000 Bitcoin of baseline collateral in a Bitwise-managed account.
  • Deal followed a $45 million debt paydown funded by selling about 600 Bitcoin and related derivatives for about $48 million in net proceeds.
  • Refinancing is expected to cut annual interest expense by about $4 million.


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