Nasdaq-listed medical data firm OneMedNet (ONMD.US) has completely liquidated its bitcoin holdings, marking the end of its cryptocurrency asset strategy. According to data compiled by Woofun AI, as of June 30, 2026, OneMedNet (ONMD.US) held cash reserves of just $358,000, against current liabilities of $4.73 million and current assets of $1.31 million, creating a working capital shortfall of $3.41 million.

The company posted a net loss of $4.63 million in the first half of the year, with cash consumption reaching $3.42 million. At this burn rate, existing cash can sustain operations for only 19 days. Management has acknowledged that the company's ability to continue as a going concern faces significant doubt.

Reviewing the strategy's evolution, OneMedNet (ONMD.US) still held 6 bitcoins as of December 31, 2025. The $419,000 in funding received during the first half of 2026 was used solely to complete the final phase of selling, which was insufficient to cover the approximately 34 bitcoins announced for disposal in 2024. Management stated it periodically sold bitcoin to maintain operations, but the report's description of the strategy shifted from "adopted" in the first quarter to "previously adopted" in the second quarter, leaving the strategy's current status ambiguous.

To bridge the funding gap, OneMedNet (ONMD.US) secured net proceeds of $2.78 million from financing activities in the first half. The share count grew from 51.8 million shares on December 31, 2025, to 59.3 million by August 11, an increase of 14.5%. With bitcoin reserves exhausted and cash tight, the company must seek additional external financing. While issuing shares remains a viable path, it will further exacerbate equity dilution, shifting operational pressure onto shareholders.