Bitcoin Treasury Growth: A New Era for KindlyMD
KindlyMD, Inc. (NASDAQ: NAKA), a leader in Bitcoin-focused ventures and integrated healthcare services, continues to make waves with its strategic investments and financial developments. This article dives into the company’s remarkable progress in Q3 2025, unpacking their merger, Bitcoin treasury strategy, and operational milestones.
KindlyMD and Nakamoto Holdings: A Strategic Merger
In May 2025, KindlyMD successfully merged with Nakamoto Holdings to form a unified platform focused on Bitcoin-centric investments and integrated health services. This strategic alignment brought new growth opportunities in cryptocurrency and digital healthcare services.
The merger bolstered KindlyMD’s ability to enhance its Bitcoin holdings while establishing partnerships that expand its global footprint. Critical acquisitions include BTC Inc, a leading Bitcoin media organization, and UTXO Management GP, LLC, a Bitcoin hedge fund.
Financial Overview: Building a Strong Bitcoin Treasury
KindlyMD raised $540 million in gross proceeds and $200 million in convertible notes to strengthen its Bitcoin treasury and fund strategic growth initiatives. As of September 30, 2025, the company had acquired 5,398 Bitcoins at an average price of $118,204.88, amounting to an investment of $681 million.
Q3 2025 brought a reported revenue of $0.4 million, showing a slight decrease from $0.6 million in Q3 2024. This decline reflects the company’s transition to Bitcoin-centered activities. Operating expenses rose to $10.8 million, driven by strategic treasury investments. Despite a net loss of $86 million this quarter, KindlyMD’s Bitcoin-centric strategies are paving the way for long-term success in the digital asset economy.
Strategic Investments to Strengthen Global Presence
KindlyMD’s investments in 2025 include a $15 million stake in Treasury BV, a Dutch Bitcoin treasury firm, and a $30 million investment in Japan-based Metaplanet Inc. These ventures further cement the company’s commitment to expanding its participation in the global Bitcoin market.
Leadership and Innovation
Taking its operations to the next level, KindlyMD appointed Amanda Fabiano as Chief Operating Officer (COO). Fabiano brings extensive expertise in Bitcoin mining and capital markets, having previously held leadership positions at Galaxy Digital and Fidelity. Her leadership is set to accelerate the company’s Bitcoin-driven roadmap.
KindlyMD also established a $5 billion at-the-market equity offering program, raising $5.6 million at an average share price of $4.15. This program will support the company’s Bitcoin treasury growth and strategic investments.
Conclusion
As of November 2025, KindlyMD has solidified its position as a forward-thinking leader in the Bitcoin and healthcare ecosystem, with a long-term strategy centered around growing its Bitcoin holdings and global operations. For those looking to follow KindlyMD’s journey or invest in their vision, staying updated on their strategic initiatives is crucial.
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