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OneMedNet’s Bitcoin treasury goes to zero as liquidity tightens
In its June 30, 2026 filing, OneMedNet reported a $3.41 million working-capital deficit and said existing liquidity was not enough to fund operations over the next 12 months.
OneMedNet, a healthcare-data company, reported that its OneMedNet treasury Bitcoin holdings fell to zero at June 30, 2026, completing a multi-quarter drawdown from earlier disclosed balances. The company said it has routinely sold treasury Bitcoin to fund operations as needed, but its filings do not tie specific sale proceeds to named operating expenses, leaving the end use of individual dollars unestablished.
In its quarterly report for the period ended June 30, 2026, OneMedNet listed $358,000 of cash, $4.73 million of current liabilities, and a warning that existing liquidity was insufficient to fund operations for the following 12 months. After the Bitcoin balance reached zero, it reported $1.31 million of current assets versus $4.73 million of current liabilities, for a $3.41 million working-capital deficit.
The filing also showed cash burn and losses, with OneMedNet using $3.42 million of cash in operations and posting a $4.63 million net loss during the first half of 2026. It said the $358,000 cash balance equated to about 19 days based on the first-half average operating cash-use rate.
Prior point-in-time Bitcoin balances disclosed by the company fell from about 34 BTC announced in November 2024, down to 31 BTC at Dec. 31, 2024, 15 BTC at June 30, 2025, six BTC at Dec. 31, 2025, one BTC at March 31, 2026, and zero by June 30, 2026. For 2024 it reported $969,000 of Bitcoin sale proceeds, for 2025 it reported $5.07 million of sales and $2.75 million of purchases, and in the first half of 2026 it reported $419,000 of sale proceeds and no Bitcoin purchases.
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