KindlyMD Secures $210 Million Bitcoin-Backed Loan from Kraken
KindlyMD (ticker NAKA) has secured a $210 million bitcoin-backed loan from Kraken with an 8% annual interest rate and a maturity date of December 4, 2026. The proceeds from this loan will be used to retire an outstanding loan previously provided by Antalpha Digital, which had financed a credit line from Two Prime Lending.
This marks Kraken as KindlyMD's fourth financing source this year, following Yorkville Advisors, Two Prime, and Antalpha Digital. The loan is fully secured by bitcoin collateral valued at a minimum of $323.4 million, equivalent to about 3,500 BTC at current prices. KindlyMD currently holds approximately 5,398 BTC as treasury assets, ranking it as the 19th-largest corporate bitcoin holder according to BitcoinTreasuries.net.
The loan was executed through KindlyMD’s subsidiary Nakamoto Holdings and allows for borrowing in fiat or digital assets under individual loan term sheets. Details of the credit agreement were disclosed in a filing with the U.S. Securities and Exchange Commission.
