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Hamak: not 1 but 2 death spirals, what’s not to like?

Tom Winnifrith
Wednesday 15 October 2025
On 25 September Hamak Strategy (HAMA) CEO Nick Thurlow told mug punters in an investor meeting that his company was fully funded for 12 months. With negative net current assets that was clearly disingenuous, either Hamak had to sell some of its 20 bitcoin or it needed to issue shares. Today it has announced not one but two death spirals! Confetti ahoy!

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Tom Winnifrith is the editor of TomWinnifrith.com. When he is not harvesting olives in Greece, he is (planning to) raise goats in Wales.
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