Bakkt Holdings Inc Stock Price, News & Analysis

Bakkt Holdings (NYSE:BKKT) has announced a strategic acquisition of approximately 30% stake in MarushoHotta Co. (TSE:8105), positioning itself as the largest shareholder of the Tokyo-listed company. The transaction includes significant changes, with Phillip Lord, Bakkt International's President, set to become MHT's CEO.

As part of this strategic move, MHT will incorporate Bitcoin and digital assets into its treasury strategy. The company will be rebranded as bitcoin.jp, pending shareholder approval, with Bakkt having already secured the corresponding web domain. This acquisition marks Bakkt's entry into the Japanese market, leveraging the country's favorable regulatory environment for Bitcoin-centered business growth.

Bakkt Holdings (NYSE: BKKT) has scheduled its second quarter 2025 earnings conference call for Monday, August 11, 2025. The company will release its financial results after market close, followed by a management-hosted conference call at 5:00 PM ET.

Investors and analysts can participate through the webcast link or by dialing (833) 470-1428 or (404) 975-4839 with access code 446108. The webcast and related materials will be archived in the 'Events & Presentations' section of Bakkt's investor relations website.

Bakkt Holdings (NYSE:BKKT) has successfully closed its previously announced public offering, raising approximately $75 million in gross proceeds. The offering consisted of 6,753,627 shares of Class A common stock at $10.00 per share and pre-funded warrants to purchase up to 746,373 shares at $9.9999 per warrant.

The company plans to use the net proceeds to purchase Bitcoin and other digital assets, along with working capital and general corporate purposes. The underwriters have a 30-day option to purchase up to an additional 1,125,000 shares of Class A common stock and/or pre-funded warrants.

Bakkt Holdings (NYSE: BKKT) has announced the pricing of its public offering, consisting of 6,753,627 shares of Class A common stock at $10.00 per share and pre-funded warrants for 746,373 shares at $9.9999 each. The offering, expected to close around July 30, 2025, aims to raise approximately $75 million in gross proceeds.

The company plans to use the proceeds to purchase Bitcoin and other digital assets, along with working capital and general corporate purposes. Underwriters have a 30-day option to purchase up to an additional 1,125,000 shares. Clear Street LLC and Cohen & Company Capital Markets are serving as joint book-running managers for the offering.

Bakkt Holdings (NYSE: BKKT) has announced plans for a public offering of Class A common stock and/or pre-funded warrants. The company will grant underwriters a 30-day option to purchase up to an additional 15% of the offered securities to cover over-allotments.

The offering will be managed jointly by Clear Street LLC and Cohen & Company Capital Markets. Bakkt plans to use the proceeds to purchase Bitcoin and other digital assets, along with working capital and general corporate purposes. The offering is being made through a shelf registration statement on Form S-3 that was declared effective by the SEC on July 3, 2025.

Bakkt (NYSE:BKKT) has announced preliminary Q2 2025 financial results and a definitive agreement to sell its Loyalty business to Project Labrador Holdco, LLC. The company estimates total revenues of $577-579 million, with crypto revenues accounting for $568-569 million and loyalty revenues of $9-10 million.

The sale of the Loyalty business, expected to close in Q3 2025, includes $11 million in monetary accommodations plus additional adjustments. This divestiture marks Bakkt's transformation into a pure-play crypto infrastructure company, allowing it to focus on core crypto offerings and stablecoin payments infrastructure.

The company reports available cash and restricted cash of $60-62 million, with access to an undrawn $40 million credit facility. Net cash used in operating activities is estimated at $13-15 million for Q2 2025.

Bakkt Holdings (NYSE: BKKT) has announced a significant update to its corporate investment policy, enabling the company to invest in Bitcoin and other digital assets as part of its treasury strategy. The new policy is built on three pillars: core allocations to Bitcoin and leading cryptocurrencies, strategic capital structure optimization, and global expansion of treasury strategy. While the company has not yet purchased any digital assets under this policy, it may use excess cash, future financing proceeds, or other capital sources for acquisitions. This initiative supports Bakkt's transformation into a pure-play crypto infrastructure company and its expansion into global payments and remittance ecosystems through stablecoins. The timing and size of investments will depend on market conditions and strategic considerations.

Bakkt (NYSE: BKKT) reported strong Q1 2025 financial results, with net income of $16.2 million, up 176.5% year-over-year. The company entered a strategic cooperation agreement with Distributed Technologies Research (DTR) to access AI and stablecoin payment infrastructure, with a commercial agreement expected by Q3 2025. Total revenues reached $1.07 billion, up 25.8% year-over-year, while crypto-enabled accounts grew to 6.8 million, up 7.9%.

The company strengthened its leadership team with Ankit Khemka as Chief Product Officer and Phillip Lord as President of Bakkt International. Assets under custody increased 52.5% year-over-year to $1.87 billion. The company is conducting a strategic review of priorities and organizational structure to drive cost efficiencies and suspended quarterly guidance pending the DTR integration.