Acacia partners with Unchained, Build for bitcoin-backed loan strategy

NEW YORK - Acacia Research Corporation (NASDAQ:ACTG), a $345 million market cap company currently trading slightly below its InvestingPro Fair Value, announced Wednesday a partnership with Unchained Capital and Build Asset Management to purchase commercial whole loans collateralized by Bitcoin.

Under the arrangement, the loans will be originated by an Unchained affiliate and sold to a wholly owned Acacia subsidiary. Build Asset Management will provide administrative and other services to Acacia related to the purchase and management of these loans.

The Bitcoin-backed loans are fully recourse commercial loans that Acacia expects will generate "attractive risk-adjusted returns" due to their interest rates, low loan-to-value metrics, and institutional custody solutions for the Bitcoin collateral.

"Investors around the world are increasingly looking to capitalize on the value Bitcoin provides as a secure source of quality collateral," said Martin (MJ) D. McNulty, Jr., Chief Executive Officer of Acacia. "This partnership allows us to participate in the Bitcoin ecosystem in a way that enables holders dollar liquidity while maintaining their Bitcoin ownership."

Acacia Research focuses on acquiring and operating businesses across industrial, energy, and technology sectors. The company evaluates opportunities based on underlying cash flows rather than specific investment horizons. Recent performance shows promising momentum, with revenue growth of 65% in the last twelve months, and analysts expect continued sales growth this year.

Unchained Capital, founded in 2016, has secured over $12 billion in Bitcoin assets and originated $1 billion in loans with zero rehypothecation, according to the press release statement. Build Asset Management, a registered investment advisor, launched a Bitcoin-focused private credit fund in partnership with Unchained in July 2023.

The announcement did not specify the total value of loans to be purchased or the expected timeframe for implementation of the strategy. For deeper insights into Acacia’s financial health and growth prospects, including 8 additional ProTips and comprehensive valuation metrics, visit InvestingPro.

In other recent news, Acacia Research Corporation reported a remarkable earnings performance for the first quarter of 2025. The company achieved an adjusted earnings per share (EPS) of $0.34, significantly surpassing the forecasted loss of -$0.03. Additionally, Acacia’s revenue reached $124.4 million, far exceeding the anticipated $30 million. These strong financial results reflect positively on the company’s recent strategies and operations. In another development, Acacia Research announced the appointment of Michael Zambito as its new Chief Financial Officer, effective June 24, 2025. Zambito brings with him extensive experience from his 30-year tenure at Ernst & Young, where he held various leadership roles. These recent developments highlight significant changes and progress within Acacia Research Corporation.

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