KindlyMD Raises $51.5 Million More to Expand Its Bitcoin Reserve Strategy

KindlyMD Secures $51.5M for Bitcoin Holdings Ahead of Nakamoto Merger

20 June 2025

Salt Lake City-based healthcare data firm KindlyMD (NAKA) has raised an additional $51.5 million to bolster its bitcoin treasury, as it moves closer to its planned merger with bitcoin-focused Nakamoto Holdings, the companies announced on Friday.

The latest funding round brings KindlyMD’s total capital raised to $763 million. The funds were raised through a private placement equity financing round (PIPE), with shares priced at $5 each.

Demand was strong, with the round fully subscribed in under three days, according to Nakamoto Holdings founder and CEO David Bailey.

At the time of the announcement, bitcoin was trading at $107,084.52, underscoring continued interest in corporate bitcoin investment strategies.