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KindlyMD Raises Another $51.5M for Bitcoin Treasury Strategy

The latest round brings the company's total capital raised to $763 million ahead of its merger with bitcoin-focused Nakamoto Holdings.

By Krisztian Sandor, AI Boost|Edited by Sheldon Reback
Updated Jun 20, 2025, 6:12 p.m. Published Jun 20, 2025, 3:16 p.m.
A statue of Satoshi Nakamoto, a presumed pseudonym used by the inventor of Bitcoin, is displayed in Graphisoft Park on September 22, 2021 in Budapest, Hungary. The statue's creators, Reka Gergely and Tamas Gilly, used anonymized facial features, as Nakamoto's true identify remains unconfirmed. (Photo by Janos Kummer/Getty Images)
A statue of Satoshi Nakamoto, a presumed pseudonym used by the inventor of Bitcoin, is displayed in Graphisoft Park on September 22, 2021 in Budapest, Hungary. The statue's creators, Reka Gergely and Tamas Gilly, used anonymized facial features, as Nakamoto's true identify remains unconfirmed. (Janos Kummer/Getty Images)

What to know:

  • Health-care data firm KindlyMD raised another $51.5 million, bringing the firm's total capital raise to $763 million, directed for bitcoin purchases.
  • The firm, which pursues a bitcoin treasury strategy, has an impending merger with Nakamoto Holdings.
  • KindlyMD shares fell 7% early in the Friday session.

KindlyMD (NAKA), a Salt Lake City-based health-care data firm merging with bitcoin-focused holding company Nakamoto, raised another $51.5 million for bitcoin BTC$78,443.57 purchases, the companies announced Friday.

The private placement equity financing round, also known as PIPE, was priced at $5 per share of common stock in KindlyMD. The financing was fully subscribed in less than three days, according to Nakamoto founder and CEO David Bailey.

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"We continue to execute our strategy to raise as much capital as possible to acquire as much bitcoin as possible," he said in a statement.

This fundraising brings the firm's total capital raise to around $763 million, including previous PIPE financing and convertible notes offering.

NAKA shares fell around 7% in the early Friday session. The Nasdaq Composite index was little changed.

The move comes as a growing roster of public companies raise capital to create crypto treasury strategies, reminiscent of software firm Strategy’s (MSTR) long-running play to issue debt and sell shares for purchasing digital assets. Strategy is the largest corporate bitcoin holder with 592,00 BTC, worth over $62 billion, BitcoinTreasuries.net data shows.

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