Crypto infrastructure platform Bakkt (BKKT) is officially shifting its focus to become a pure-play crypto company. In a recent announcement, the company revealed plans to sell its loyalty business to Project Labrador Holdco, a unit of Roman DBDR Technology Advisors.
The deal is expected to close in Q3 2025, and includes $11 million in cash, plus working capital adjustments and a short-term loan to support the handover process.
⚡️With this sale, we’re hitting a major milestone and fully committing to our future in crypto infrastructure,-said Andy Main, president and co-CEO of Bakkt.
At the same time, Bakkt reported strong preliminary crypto revenues for Q2 — estimated between $568 million and $569 million.
To support its future growth, Bakkt also announced plans for a public offering of Class A shares or pre-funded warrants. The raised funds will go toward buying digital assets, covering daily operations, and supporting broader corporate needs. The company noted that final terms of the offering will depend on market conditions.