Nakamoto Inc. (Nasdaq: NAKA), a Nashville-based Bitcoin operating company, announced today a set of capital structure initiatives that include a $45 million debt reduction, a loan refinancing with extended maturities, and a $25 million share repurchase authorization. 

Shares of NAKA briefly climbed 20% on the news, at the time of writing.

The company retired $45 million in outstanding debt through the repayment of a portion of its loan with Payward Interactive, Inc., doing business as Kraken. Nakamoto funded the repayment by selling approximately 600 Bitcoin and Bitcoin-related derivative positions, which generated approximately $48 million in net proceeds. 

The transaction…

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