Nakamoto Stock Price, News & Analysis
Company Description
Kindly MD, Inc. (NASDAQ: NAKA), also referred to as KindlyMD, is a healthcare company that combines integrated medical services with a data-driven approach to value-based care. The company is described as a patient-first and healthcare data company focused on redefining value-based care and patient-centered medical services. Formed in 2019, KindlyMD emphasizes the use of data analysis to deliver evidence-based, personalized solutions that aim to reduce opioid use, improve health outcomes more quickly, and provide value-based, algorithmic guidance on the use of alternative medicine in healthcare.
KindlyMD operates in the Healthcare sector and is associated with the Medical Care Facilities industry. According to prior descriptions, KindlyMD has operated as a holistically focused pain management clinic and healthcare data company, offering direct health care to patients. Its clinical model has integrated prescription medicine and behavioral health services to help reduce opioid use in chronic pain populations. The company’s specialty outpatient clinical services have been offered on subscription and fee-for-service bases to augment traditional healthcare.
Within this clinical framework, the company has stated that it offers evaluation and management services that include, but are not limited to, chronic pain, functional medicine, cognitive behavioral therapy, recovery support services, overdose education efforts, peer support, limited urgent care, preventative medicine, travel services, and hormone therapy. These offerings align with its stated mission of supporting patient-centered care and reducing reliance on opioids through evidence-based and alternative approaches.
Integration with Bitcoin Treasury Strategy
A defining feature of KindlyMD’s recent evolution is its merger with Nakamoto Holdings Inc. (“Nakamoto”), a privately held, Bitcoin-native holding company. In August 2025, KindlyMD completed this merger, establishing Nakamoto as a wholly owned subsidiary. The company’s public communications describe this transaction as forming a public Bitcoin treasury strategy that unites KindlyMD’s healthcare expertise with Nakamoto’s vision of integrating Bitcoin into global capital markets.
Following the merger, KindlyMD describes itself as both a provider of integrated healthcare services and a Bitcoin company or Bitcoin treasury vehicle through Nakamoto. Public disclosures state that Nakamoto is a Bitcoin company building a global portfolio of Bitcoin-native companies. Nakamoto plans to grow its Bitcoin holdings through disciplined accumulation and to leverage its treasury to acquire and develop an ecosystem of Bitcoin companies across areas such as finance, media, advisory and more. This approach is framed as creating commercial and financial infrastructure for what the company characterizes as the next generation of capital markets.
Business Model Components
Based on the available information, KindlyMD’s business model has two primary components:
- Integrated healthcare and data operations: KindlyMD delivers direct healthcare services with a focus on chronic pain, behavioral health, and alternative medicine. It uses data analysis to guide evidence-based care and algorithmic recommendations, with the goal of reducing opioid use and improving patient outcomes. Its outpatient services have included subscription and fee-for-service arrangements.
- Bitcoin treasury and investment activities: Through Nakamoto, KindlyMD pursues a strategy centered on accumulating and holding Bitcoin as a treasury asset, allocating a portion of that treasury to strategic investments in Bitcoin-focused public companies and treasury assets, and laying the foundation to acquire recurring-revenue, cash-generating Bitcoin-related businesses. Company communications describe this as building a Bitcoin-native operating platform and a public Bitcoin strategy.
KindlyMD has disclosed that it intends to use earnings from its healthcare operations to support Nakamoto’s efforts to accumulate Bitcoin and reinvest in strategic opportunities. This creates a link between its healthcare business and its Bitcoin treasury strategy, with the healthcare segment presented as a contributor to the capital base supporting digital asset and Bitcoin-focused investments.
Capital Markets and Financing Activities
KindlyMD’s filings and press releases highlight several capital markets and financing activities related to its Bitcoin strategy and corporate structure. The company trades on The Nasdaq Stock Market LLC under the symbol NAKA, and its tradeable warrants to purchase shares of common stock trade on the OTC Pink Market under the symbol NAKAW.
The company has described the establishment of a shelf registration statement and an at-the-market equity offering program with an aggregate offering capacity of up to $5 billion. According to its disclosures, KindlyMD intends to use net proceeds from this program for general corporate purposes, including pursuit of its Bitcoin treasury strategy following the merger with Nakamoto, working capital, funding acquisitions of businesses, assets or technologies, capital expenditures, and investing in existing and future projects.
In addition, the company has reported entering into secured loan arrangements backed by Bitcoin or other digital assets. These include a term loan facility with Two Prime Lending Limited and a subsequent loan agreement with Antalpha Digital Pte. Ltd., each secured by Bitcoin or agreed digital assets. The company has also disclosed the redemption and repayment in full of a secured convertible debenture previously issued to an institutional investor, using proceeds from such financing arrangements. These steps are presented as part of its effort to align its capital structure with its shareholders and support its long-term strategy.
Share Repurchase and Listing Status
KindlyMD’s board of directors has authorized a share repurchase program providing for the repurchase of up to a specified dollar amount of the company’s outstanding common stock. Under this program, the company may repurchase shares through open-market purchases, privately negotiated transactions, accelerated share repurchases, or other methods in accordance with applicable securities laws, including Rule 10b5-1 and Rule 10b-18. A Rule 10b-18 repurchase plan with a broker has been established to facilitate these repurchases.
The company has also received a notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC that its common stock was not in compliance with Nasdaq Listing Rule 5450(a)(1) due to the closing bid price being below $1.00 per share for a specified period. The notice states that the company has a defined compliance period to regain compliance by achieving a closing bid price at or above $1.00 per share for a minimum number of consecutive business days, with the possibility of transferring to the Nasdaq Capital Market if certain conditions are met. The notice does not immediately affect the listing of the company’s securities, and the company has stated that it intends to monitor its minimum bid price and consider available options, which may include applying to transfer markets or effecting a reverse stock split.
Corporate Governance and Structure
KindlyMD is identified in its filings as a corporation organized under the laws of Utah, with stockholders having considered and approved a proposal to convert Kindly MD from a Utah corporation to a Delaware corporation. The company has held annual meetings of stockholders to elect directors, approve corporate actions such as conversion of jurisdiction, ratify the appointment of its independent registered public accounting firm, and authorize potential adjournments of the annual meeting if necessary.
The company is characterized as an emerging growth company under applicable securities regulations. Its proxy materials describe a board of directors, board committees, and governance structures consistent with a publicly traded company. The company has also highlighted the use of its own and its subsidiary’s websites, press releases, SEC filings, and social media accounts as channels for disseminating information to investors.
Sector Context and Dual Focus
Within the healthcare sector, KindlyMD’s emphasis on data analysis, value-based care, and algorithmic guidance on alternative medicine positions it as a participant in patient-centered medical services and pain management. At the same time, its merger with Nakamoto and its stated Bitcoin treasury strategy place it within the group of companies that integrate digital assets into their corporate treasury and investment strategies.
According to its public statements, Nakamoto allocates a portion of its Bitcoin holdings to strategic investments in Bitcoin-focused companies operating in international capital markets, including investments in entities such as Treasury B.V., Metaplanet Inc., and other Bitcoin treasury companies. These activities are described as part of a broader mission to build a global network of Bitcoin companies and to position Bitcoin at the center of financial strategies across different markets.
FAQs
- What does KindlyMD do?
KindlyMD is described as a patient-first and healthcare data company that provides integrated healthcare services and focuses on value-based, patient-centered medical care. It uses data analysis to deliver evidence-based, personalized solutions intended to reduce opioid use, improve health outcomes faster, and guide the use of alternative medicine in healthcare. - How is KindlyMD involved with Bitcoin?
Through its wholly owned subsidiary Nakamoto Holdings Inc., KindlyMD pursues a Bitcoin-focused strategy. Nakamoto is characterized as a Bitcoin company that accumulates and holds Bitcoin as a treasury asset, invests in Bitcoin-focused public companies and treasury assets, and seeks to acquire Bitcoin-related businesses. KindlyMD has described itself as a Bitcoin company or Bitcoin treasury vehicle via Nakamoto. - What is the relationship between KindlyMD and Nakamoto Holdings?
In August 2025, KindlyMD completed a merger with Nakamoto Holdings Inc., a Bitcoin-native holding company. Following the merger, Nakamoto became a wholly owned subsidiary of KindlyMD. Company communications state that this partnership formed a public Bitcoin strategy that combines KindlyMD’s healthcare expertise with Nakamoto’s approach to integrating Bitcoin into global capital markets. - How does KindlyMD describe its healthcare services?
KindlyMD has been described as a holistically focused pain management clinic and healthcare data company. It offers direct healthcare to patients by integrating prescription medicine and behavioral health services to reduce opioid use in chronic pain populations. Its specialty outpatient clinical services have included evaluation and management for chronic pain, functional medicine, cognitive behavioral therapy, recovery support services, overdose education efforts, peer support, limited urgent care, preventative medicine, travel services, and hormone therapy. - On which exchange does KindlyMD trade, and what are its symbols?
KindlyMD’s common stock is listed on The Nasdaq Stock Market LLC under the symbol NAKA. Tradeable warrants to purchase shares of its common stock are listed on the OTC Pink Market under the symbol NAKAW. - What is KindlyMD’s at-the-market equity offering program?
KindlyMD has filed a shelf registration statement and prospectus supplement with the U.S. Securities and Exchange Commission establishing an at-the-market equity offering program under which it may issue and sell shares of its common stock up to a specified aggregate offering price. The company has stated that it intends to use net proceeds for general corporate purposes, including its Bitcoin treasury strategy, working capital, acquisitions, capital expenditures, and investments in projects. - Has KindlyMD announced a share repurchase program?
Yes. The board of directors has approved a share repurchase program providing for the repurchase of up to a defined dollar amount of the company’s outstanding common stock. Under this program, shares may be repurchased through methods such as open-market purchases, privately negotiated transactions, and trading plans established under Rule 10b5-1, in accordance with Rule 10b-18. - What is the status of KindlyMD’s Nasdaq listing?
KindlyMD has disclosed receiving a notice from Nasdaq that its common stock did not meet the minimum bid price requirement under Nasdaq Listing Rule 5450(a)(1) for the Nasdaq Global Market. The notice provides a 180-day period to regain compliance by achieving a closing bid price of at least $1.00 per share for a minimum number of consecutive business days, with the possibility of an additional compliance period through a transfer to the Nasdaq Capital Market if certain conditions are satisfied. The notice does not immediately affect the listing, and the company has indicated it is monitoring its share price and considering options. - How does KindlyMD describe its founding and history?
The company states that KindlyMD was formed in 2019. Since then, it has developed a model focused on patient-first, data-driven healthcare and later expanded its scope through the merger with Nakamoto Holdings Inc. to include a public Bitcoin treasury strategy.