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KindlyMD Partners with Antalpha on $250M Bitcoin-Backed Financing Deal
The deal aims to expand Naka's bitcoin treasury and strengthen long-term balance sheet flexibility.
Oct 7, 2025, 12:53 p.m.
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What to know:
- The partnership between KindlyMD and Antalpha includes a non-binding agreement for $250 million in 5-year secured convertible notes, with an interim Bitcoin-backed loan.
- NAKA shares continue at $1.03, down about 95% from their all-time high.
KindlyMD (NAKA) announced a partnership with Antalpha to create a $250 million secured convertible debt facility.
Through its subsidiary Nakomoto Holdings, KindlyMD will leverage Antalpha's expertise in digital asset financing to create new treasury tool for bitcoin focused-companies, according to the announcement.
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The non-binding agreement outlines a five-year convertible note issuance to Antalpha, with proceeds aimed at refinancing a previous $203 million bitcoin-secured credit line from Two Prime Lending and to increase bitcoin holdings.
Pending financilization,Antalpha will also extend an interim bitcoin-backed loan to KindlyMD.
KindlyMD holds 5,765 BTC, and its shares are trading just above $1, representing a roughly 95% decline from the all-time high reached in May.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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