KindlyMD, Inc. (NASDAQ: NAKA) and Nakamoto Holdings Inc., a Bitcoin-native holding company, have officially completed their long-anticipated merger, forming a publicly traded Bitcoin treasury vehicle. This strategic consolidation, which finalized on August 14, 2025, creates a combined entity that will operate under the KindlyMD name, trading on the Nasdaq Capital Market. Nakamoto Holdings will function as a wholly owned subsidiary, specifically overseeing the Bitcoin financial services division, with the ambitious overarching goal of acquiring one million Bitcoin (BTC).

David Bailey, CEO of the newly merged company, articulated a bold vision: “Our vision is for the world’s capital markets to operate on a Bitcoin standard. Today’s merger represents the beginning of that journey for our company.” Bailey, reflecting on his 13-year journey in Bitcoin, expressed his unwavering belief that Bitcoin will become the most valuable asset in human history, universally held. He emphasized that the securitization of Bitcoin demonstrates how institutions will adopt it, a process the company intends to drive forward. Tim Pickett, former KindlyMD CEO and now Chief Medical Officer, shared his excitement, stating that KindlyMD is extending its operational and innovative excellence to its capital strategy, recognizing Bitcoin's ability to preserve value with integrity.

The merger transaction successfully generated approximately $540 million in gross proceeds through a private placement in public equity (PIPE) financing, with these funds primarily earmarked for Bitcoin purchases. Additionally, a $200 million convertible note offering was expected to close on August 15, further augmenting the capital for acquisitions. David Bailey leads the strengthened leadership team as CEO and Chairman of the Board. Key appointments include Amanda Fabiano as COO, Tyler Evans as CIO, and Andrew Creighton as CCO. The board also welcomes newly appointed independent directors Charles Blackburn, Perianne Boring, Eric Weiss, Greg Xethalis, and Mark Yusko, alongside Tim Pickett.

Demonstrating its commitment to its stated mission, KindlyMD made its first significant Bitcoin acquisition on August 19, 2025, shortly after the merger. The company purchased 5,743.91 BTC for approximately $679 million, at a weighted average price of $118,204.88 per Bitcoin. This initial purchase brings KindlyMD’s total Bitcoin holdings to 5,764.91 BTC, establishing it as a significant player in the burgeoning corporate Bitcoin treasury landscape. Bailey affirmed, “This acquisition reinforces our conviction in Bitcoin as the ultimate reserve asset for corporations and institutions alike,” reiterating the long-term mission of accumulating one million Bitcoin as Bitcoin anchors the next era of global finance. The purchase was strategically funded using proceeds from the recently completed PIPE financing and the $200 million convertible note offering.

The merged company’s mission is to build a premier, institutional-grade Bitcoin treasury vehicle to accelerate corporate and government adoption of the asset. By leveraging advanced corporate finance strategies, Nakamoto aims to simplify Bitcoin integration into global capital markets and position itself as a leader in public market Bitcoin treasury management. This evolution reflects the rapid growth of the corporate Bitcoin treasury landscape in 2025, as traditional financial institutions increasingly acknowledge Bitcoin as a legitimate treasury asset, leading to more sophisticated financial instruments and investment vehicles. KindlyMD, through its Nakamoto subsidiary, is also in partnership with Bitcoin Magazine’s parent company BTC Inc, collaborating to build the first global network of Bitcoin treasury companies, with BTC Inc providing marketing services.