- KindlyMD acquired 5,744 BTC for about $679 million at an average price near $118,205 through its Nakamoto Holdings unit. :contentReference[oaicite:0]{index=0}
- The company set a target of one million BTC and arranged financing including a $540 million PIPE and a $200 million convertible note. :contentReference[oaicite:1]{index=1}
KindlyMD initiated its corporate Bitcoin strategy with a single purchase of 5,744 BTC valued at approximately $679 million, executed via its wholly owned subsidiary Nakamoto Holdings after completing their merger this month. The company reported a weighted average purchase price of $118,204.88 per coin.
KindlyMD acquires 5,744 BTC using PIPE proceeds after merger with Nakamoto
The company said the inaugural acquisition followed the merger that transformed the healthcare operator into a listed vehicle combining medical services with a dedicated Bitcoin treasury arm.
KindlyMD trades on Nasdaq under the ticker NAKA and made the purchase through Nakamoto Holdings, the entity overseeing treasury operations. The firm disclosed that the transaction was funded primarily from private investment in public equity proceeds raised in connection with the merger.
Following the buy, KindlyMD’s total holdings stand near 5,765 BTC according to the company’s update. At current levels, that places the business among the more sizeable corporate holders of the asset, although the firm has not provided guidance on the timing of subsequent purchases.
Update: KindlyMD adds 5,744 BTC to the Nakamoto Bitcoin Treasury. pic.twitter.com/D92nZxGZnq
— Nakamoto (@nakamoto) August 19, 2025
Initial market reaction was negative. Shares of KindlyMD moved lower on Tuesday, with the stock down more than 10 percent intraday after the announcement. Traders cited dilution concerns tied to recent fundraising and uncertainty around the pace of additional purchases.
Company targets one million BTC under CEO David Bailey, signals ongoing funding
Chief executive David Bailey, who took the helm at the combined company, outlined a long term ambition to accumulate up to one million BTC through a programmatic treasury strategy. The company reiterated this target alongside the initial deployment and framed Bitcoin as its reserve asset for corporate liquidity management.
KindlyMD has disclosed multiple funding sources to support further acquisitions. In addition to the merger related PIPE of approximately $540 million, the company highlighted a $200 million convertible note issuance communicated last week.
Management indicated that future purchases could draw on a mix of external capital and operating cash flow as the healthcare business continues to run under the new structure.
The move places KindlyMD alongside publicly traded companies that actively manage Bitcoin on balance sheet while maintaining core operating businesses.
The firm said its treasury plan will be executed through Nakamoto Holdings with an emphasis on transparent disclosures around purchase size, pricing, and funding sources. The company did not disclose hedging activity or derivatives usage in connection with the transaction.
For now, the debut deployment defines the baseline for the program and establishes a cadence for updates as the company refines its approach to corporate cash allocation in Bitcoin.
Investors will monitor execution against the accumulation goal and the interaction between treasury actions, capital structure, and operating performance.
At the time of press, Bitcoin is trading at exactly $113,764.00, having fallen $976.00, or -0.85%, from the previous close.
