KindlyMD Plans to Raise $5B for Bitcoin Purchase

Nasdaq-listed KindlyMD plans to raise $5 billion in equity to expand its bitcoin treasury, following its first $635 million BTC purchase.

Equity raise to boost Bitcoin reserves

Salt Lake City–based health-care company KindlyMD (NAKA), which recently merged with bitcoin treasury firm Nakamoto, announced plans to raise up to $5 billion through an equity offering.

The firm filed a shelf registration statement with the U.S. SEC for an at-the-market offering program. This allows the company to issue shares gradually, depending on market conditions. While the primary goal is to expand its bitcoin treasury, funds may also be used for acquisitions of businesses, technologies, or assets.

First purchase already completed

Earlier this month, KindlyMD executed its first major bitcoin purchase — 5,744 BTC. The buy marked the company’s entry into the corporate bitcoin treasury race, joining major players like MicroStrategy.

Despite the bold strategy, NAKA shares dropped 12% to $8.07 on Tuesday, reflecting bitcoin’s own price correction. The leading cryptocurrency has fallen over 10% since reaching $123,000 in mid-August.

Long-term strategy with Bitcoin

KindlyMD emphasized that bitcoin will serve as a key reserve asset to protect the company’s balance sheet against inflation and currency risks.

The company highlighted three strategic goals:

• build one of the largest corporate bitcoin treasuries;
• increase shareholder value through BTC adoption;
• diversify reserves with long-term digital assets.

If successful, KindlyMD could join the top corporate holders of bitcoin, signaling further institutional adoption of digital currencies.