Nakamoto Inc's Business Segments

Nakamoto Inc. is shifting its business strategy from healthcare operations to focus on Bitcoin, including maintaining a Bitcoin treasury. The company conducts Bitcoin operations and holds digital assets, which expose it to risks related to Bitcoin market fluctuations and competition from other Bitcoin-focused firms and exchange-traded products. Nakamoto operates media and information services through BTC Inc., providing trade shows and editorial content. Its investment advisory segment depends on Bitcoin’s market price and assets under management. The company’s healthcare operations include medical cannabis but face regulatory challenges and difficulties in collecting patient accounts receivable. Nakamoto is exposed to cybersecurity risks, such as potential loss of Bitcoin private keys, and must comply with data privacy laws including HIPAA. Its investment advisory business is subject to extensive regulation and requires effective internal controls over financial reporting. As a public company, Nakamoto encounters risks related to stock price volatility, Nasdaq listing compliance, and potential dilution from securities offerings. Additional risks involve management experience, social media, and acquisition-related costs and integration challenges. Nakamoto’s operations encompass Bitcoin treasury management, media services, asset management, and healthcare, with significant risks associated with its strategic transition and regulatory environment.

As of December 31, 2025, the registrant operates two principal business segments: Bitcoin Operations and Healthcare Operations. The Bitcoin Operations segment involves acquiring and holding Bitcoin as a treasury reserve asset, supporting investments in other Bitcoin-related companies, and implementing strategies such as options writing on Bitcoin. The registrant held approximately 5,342 Bitcoin valued at $467.5 million as of December 31, 2025. Bitcoin acquisitions are conducted through U.S.-based, institutional-grade custodians and reputable third-party exchanges with due diligence and regulatory compliance. The Healthcare Operations segment provides patient-focused healthcare services offering personalized solutions aimed at reducing opioid use and improving health outcomes.