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Nakamoto Secures Acquisition of BTC Inc and UTXO

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Editor’s note: In a move that consolidates Bitcoin-native operations across media, asset management, and advisory services, Nakamoto signs definitive agreements to acquire BTC Inc and UTXO Management. The announcement outlines strategic intent, expected closing in early 2026, and how these integrations may reshape Nakamoto’s growth trajectory. The editorial team will monitor how the combined platform expands industry coverage, investor access, and Bitcoin-focused capabilities as the company builds its global brand.

Key points

  • Nakamoto signs definitive agreements to acquire BTC Inc and UTXO Management, expanding Bitcoin-native services across media and asset management; closing is targeted for Q1 2026.
  • Transaction is expected to close in the first quarter of 2026, subject to customary closing conditions.
  • The deal is financed entirely with Nakamoto common stock at $1.12 per share; 363,589,816 shares will be issued, valued at $107,295,354 before adjustments.
  • BTC Inc is a global leader in Bitcoin media and events; UTXO provides investment advisory services to Bitcoin-focused opportunities.
  • The combined platform aims to strengthen Nakamoto’s balance sheet and accelerate growth initiatives in Bitcoin ecosystems.

Why this matters

Nakamoto’s acquisition broadens its footprint as a diversified Bitcoin operating company with global reach in media, asset management, and advisory services. By integrating BTC Inc’s media assets and UTXO’s investment platform, the company seeks recurring earnings, expanded cross-selling, and stronger market position.

What to watch next

  • Closing of the transaction in Q1 2026 and milestones for integration of BTC Inc and UTXO into Nakamoto’s platform.
  • Progress on synergies, cross-selling opportunities, and potential additional Bitcoin treasury activities and acquisitions.

Disclosure: The content below is a press release provided by the company/PR representative. It is published for informational purposes.

Nakamoto Signs Definitive Agreements to Acquire BTC Inc and UTXO Management

Nakamoto Inc. (NASDAQ: NAKA) today announced that it has entered into merger agreements to acquire BTC Inc, the leading provider of Bitcoin-related media and events, and UTXO Management GP, LLC (the “UTXO”), an investment firm focused on private and public Bitcoin companies (collectively, the “Transaction”). The Transaction is expected to close in the first quarter of 2026, subject to customary closing conditions.

The Company’s option to acquire BTC Inc and UTXO, through BTC Inc’s call option with UTXO, was previously disclosed as part of Nakamoto’s proposed merger with Nakamoto Holdings, Inc. (the “Nakamoto Holdings”). The Marketing Services Agreement with BTC Inc (the “MSA”), which the Company assumed from Nakamoto Holdings in the merger last year, outlines the terms of the Company’s option and was publicly filed and approved by the Company’s shareholders in connection with that transaction. Following shareholder approval, Nakamoto, BTC Inc, and UTXO engaged in extensive joint marketing initiatives across BTC Inc’s media and events platforms. Nakamoto exercised its call option with BTC Inc and BTC Inc exercised its call option with UTXO concurrently with signing of the merger agreements. No additional Nakamoto shareholder approval is required to complete the Transaction.

“Bringing BTC Inc and UTXO into Nakamoto has been a part of our vision since day one,” said David Bailey, Chairman and CEO of Nakamoto. “We intend to operate a portfolio of companies across media, asset management, and advisory services that can scale with Bitcoin’s long-term growth. BTC Inc and UTXO are global leaders in Bitcoin media and asset management. This transaction signifies the first step of the company we intend to build, and we’re just getting started.”

UTXO: Investing in Bitcoin Acceleration

UTXO is the adviser to 210k Capital, LP, a hedge fund focused on Bitcoin, Bitcoin-related securities, and derivatives. The investment team leverages extensive experience in the Bitcoin ecosystem to allocate capital across public and private market opportunities.

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“UTXO was founded to back the builders and companies shaping the Bitcoin economy,” said Tyler Evans, Chief Investment Officer of Nakamoto and Chief Investment Officer of UTXO. “Leveraging Nakamoto’s public platform and robust treasury, we see a powerful opportunity to compound value across the Bitcoin ecosystem and reinforce Bitcoin’s role as a foundational asset in modern capital markets.”

More information about the transaction can be found on the Nakamoto Investor Relations site: http://investors.nakamoto.com

Additional Transaction Details

A Special Committee of independent directors of Nakamoto’s Board of Directors (the “Special Committee”) was formed to review, evaluate, and negotiate the Transaction. The Special Committee retained B. Riley Securities, Inc. as the independent financial advisor and fairness opinion provider to the Special Committee and Simpson Thacher & Bartlett LLP as independent legal counsel.

Nakamoto was advised by TD Securities (USA) LLC as its financial advisor and Reed Smith LLP as legal counsel in connection with the Transaction. BTC Inc was advised by Bradley Arant Boult Cummings LLP and UTXO was advised by Haynes and Boone, LLP, in each case acting as legal counsel to the respective parties.

About Nakamoto Inc.

Nakamoto Inc. (NASDAQ: NAKA) is a Bitcoin company that owns and operates a global portfolio of Bitcoin-native enterprises spanning media and information, asset management, and advisory services. For more information, please visit nakamoto.com.

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Forward Looking Statements All statements, other than statements of historical fact, included in this press release that address activities, events or developments that Nakamoto expects, believes or anticipates will or may occur in the future are forward-looking statements, as defined under U.S. federal securities laws, related to Nakamoto. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts, including, without limitation, statements about expectations regarding anticipated synergies, cross-selling opportunities, operational plans, market expansion, the long-term strategic impact or anticipated effects of the Transaction, financial projections of BTC Inc and/or UTXO, the timing of closing of the Transaction, Bitcoin-related strategies, Bitcoin treasury management activities, and Nakamoto’s anticipated holding of Bitcoin as part of its corporate treasury. Such forward-looking statements are inherently uncertain and involve numerous assumptions and risks. Forward-looking terms used may include, but are not limited to, “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “potential,” “create,” “intend,” “could,” “would,” “may,” “plan,” “will,” “look,” “goal,” “future,” “build,” “focus,” “continue,” “strive,” “allow,” “seek,” “see,” “aim,” “target,” or the negative of such terms or other variations thereof and words and terms of similar substance used in connection with any discussion of future plans, actions, or events identify forward-looking statements and similar expressions. However, the absence of these words does not mean that the statements are not forward-looking. These forward-looking statements include, but are not limited to, the following: descriptions of Nakamoto and its operations, subsidiaries, strategies and plans, expectations regarding anticipated synergies, cross-selling opportunities, operational plans, market expansion, the long-term strategic impact or anticipated effects of the Transaction, financial projections of BTC Inc and/or UTXO, the timing of closing of the Transaction, Bitcoin-related strategies, and Bitcoin treasury management activities. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this communication. Factors that could cause actual results to differ include, but are not limited to, the following: the acquisition of BTC Inc or UTXO may not provide the benefits we anticipate receiving due to any number of factors, including the inability of BTC Inc or UTXO to maintain current level of earnings or to continue to grow its sales to new and existing customers; our inability to successfully cross-sell business between our existing customers and BTC Inc’s or UTXO’s existing products or services, or expand products or services to new customers; the effect of the announcement or pendency of the Transaction on our business relationships, performance, and business generally; the acquisition of BTC Inc or UTXO may not be closed in a timely manner or at all, which may adversely affect the price of our securities; and we may encounter difficulties with integration or unanticipated costs related to the Transaction; Bitcoin market volatility, ; and other important factors that could cause actual results to differ materially from those projected. All such factors are difficult to predict and are beyond Nakamoto’s control, including those detailed in Nakamoto’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and such other documents of Nakamoto that are filed, or will filed, with the SEC that are or will be available on Nakamoto’s website at www.nakamoto.com and on the website of the SEC at www.sec.gov. All forward-looking statements are based on assumptions that Nakamoto believes to be reasonable but that may not prove to be accurate. Any forward-looking statement speaks only as of the date on which such statement is made, and Nakamoto does not undertake any obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Nothing contained herein constitutes an offer to buy or sell securities of Nakamoto or any other party, nor does it constitute a solicitation of any proxy or vote. Past performance is not indicative of future results.

Media Contact

Carissa Felger / Sam Cohen

Gasthalter & Co.

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(212) 257-4170

Nakamoto@gasthalter.com

Investor Relations Contact

Steven Lubka

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VP of Investor Relations

(615) 701-8889

Investors@nakamoto.com

Risk & affiliate notice: Crypto assets are volatile and capital is at risk. This article may contain affiliate links. Read full disclosure

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Crypto World

Bittensor (TAO) Crypto Surges 46% as Covenant-72B Launch Triggers Subnet Explosion

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Bittensor (TAO) crypto just surged 46% in March. Trading near $277.

The network successfully deployed its Covenant-72B model on Subnet 3. That is not a roadmap promise. It is a live heavy-compute model running on-chain.

The market responded immediately. The subnet-native τemplar token pumped nearly 200% in under a week.

TAO is no longer just a governance play. Actual utility demand is driving this move.

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Key Takeaways:

  • TAO posts 46% monthly gain driven by Covenant-72B model deployment.
  • Subnet 3 activity explodes, pushing the τemplar token up 194% in days.
  • Institutional inflow accelerates ahead of potential Grayscale ETF approval.

Covenant-72B: Why This Release Moved the Market

Covenant-72B is a 72 billion parameter large language model. A significant jump from the lighter models Bittensor has run previously. It means the network can now handle enterprise-grade compute loads.

That scale directly impacts validator staking. Running a model this size requires higher quality miner inputs and more TAO staked to secure the bandwidth. Demand for compute on Subnet 3 created direct demand for the collateral backing it. The pricing mechanism worked exactly as designed.

The biggest winner was not TAO itself. It was τemplar, the Subnet 3 native token, which rallied 194% following the deployment. That is the ecosystem feedback loop in action. High-performance subnets attract speculative capital, which deepens liquidity for the miners running there.

Volume backs the move. TAO’s volume-to-market-cap ratio is sitting between 17% and 19%, with over $254 million traded in 24 hours. That is not a thin order book pump. That is real participation.

When subnet tokens outperform the parent chain like this, it typically signals the start of an application layer season for the protocol. That is the next phase traders are positioning for.

TAO Crypto Price Analysis: Can Bulls Breach $300?

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TAO is consolidating at $277.49, just below the $300 psychological level. Structure stays bullish as long as $250 holds.

The 46% impulse already flushed weak hands. OI is building. Traders are positioning for a breakout.

Bittensor (TAO)
24h7d30d1yAll time

Bull case: daily close above $300 opens $350. Grayscale ETF filing provides the fundamental narrative. Volume needs to stay above $250 million daily to keep the momentum alive.

Bear case: rejection at $300 retests $240. If the broader altcoin recovery stalls, TAO could chop sideways for weeks. Watch $265 closely. Lose that level and the immediate breakout setup is invalidated.

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Bitcoin ETFs on Track to Turn Positive YTD as XRP Rebounds

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Bitcoin ETFs on Track to Turn Positive YTD as XRP Rebounds

US spot Bitcoin exchange-traded funds (ETFs) extended their inflow streak to seven consecutive days, marking the longest run since October 2025.

Spot Bitcoin (BTC) ETFs added $199.4 million on Monday, bringing their seven-day streak to around $1.2 billion, according to data from SoSoValue. The latest inflows suggest continued institutional interest, though total inflows remain far below the roughly $6 billion seen during the October 2025 run.

Total trading volumes fell to $2.6 billion on Monday, while total assets under management in Bitcoin ETFs climbed to $96.7 billion. Net year-to-date flows remain negative, following $1.8 billion in cumulative monthly outflows and $1.7 billion in cumulative inflows.

The ETF rebound has coincided with broader strength in crypto investment products, which drew about $2.7 billion over three straight weeks, lifting year-to-date inflows to roughly $1.2 billion, according to CoinShares.

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Daily spot Bitcoin ETF inflows from March 9–March 17, 2026, versus Sept. 29–Oct. 9, 2025. Source: SoSoValue

XRP funds post first gains after eight-day losing streak

Spot altcoin ETFs also saw a broad uptick, led by Ether (ETH) with $138.3 million in inflows, the largest since March 4. Solana (SOL) followed the trend with $17.8 million in inflows, also the biggest since March 4.

XRP (XRP) stood out with $4.64 million inflows, the first gains since March 4. The ETFs saw $56.8 million outflows in the period from March 5-16.

Daily XRP ETF flows from March 4–March 17, 2026. Source: SoSoValue

Despite $33.5 million in outflows so far in March, XRP ETFs remain in the green year-to-date, supported by $73.7 million in inflows during January and February.

Solana leads all crypto ETFs year-to-date with $223 million in net inflows.

Related: Bernstein says Bitcoin rebound reflects more resilient long-term holder base

In contrast, Ether ETFs remain underwater, with $364.5 million in year-to-date outflows, following $358.5 million in inflows in March and $723 million in outflows during the first two months of the year.

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Magazine: Spot Bitcoin ETFs first green week, crypto ATM losses surge 33%: Hodler’s Digest, Mar. 8 – 14