CoinDesk Podcast Network The Blockspace Pod: The real story behind NAKA’s BTC Inc transaction
Feb 24, 2026
Amanda Fabiano, COO of Nakamoto Holdings and former Head of Mining at Galaxy, discusses shifting from mining to building diversified Bitcoin operating businesses. She outlines why Nasdaq-listed firms need recurring revenue and how BTC Inc., UTXO management, and advisory services form a complementary operating model. The conversation covers capital tools, bitcoin-backed debt, and strategies to restore market confidence.
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Treasury Alone Is Not A Public Company Strategy
- Amanda Fabiano argues a pure HODL treasury is insufficient for NASDAQ-listed Bitcoin companies and must be a foundation for operating businesses.
- Nakamoto's strategy was to pair a large BTC treasury with recurring-revenue verticals like BTC Inc., UTXO, and advisory services to create a durable public operating company.
Media Events Feed Revenue Flywheel
- Nakamoto folded BTC Inc.'s media/events, UTXO's asset management, and SecondGate advisory into a single flywheel to convert audience into clients and revenue.
- Amanda emphasizes conferences and media drive lead flow into advisory and fund products, creating recurring revenue streams.
Show Segmented Financials To Win The Street
- Present financials as a sum-of-the-parts so analysts can value each vertical (media, asset management, advisory) on its own merits.
- Amanda says transparently reporting segment performance helps the market re-rate the company over time.