Nakamoto Inc., the bitcoin treasury firm led by entrepreneur David Bailey, announced Monday that its healthcare clinics ceased operations on June 19, winding down its legacy medical business that originated from its merger with KindlyMD in 2025. The healthcare exit reflects Nakamoto's transition toward a bitcoin operating model centered on media and information services, asset management, and consulting and advisory businesses designed to generate recurring revenue. The company was among a cohort of bitcoin-focused digital asset treasury companies that emerged in 2025, following its merger with healthcare operator KindlyMD that raised approximately $540 million in gross proceeds from a PIPE financing to fund bitcoin purchases.
Nakamoto Closes Healthcare Clinics on June 19
Nakamoto announced in a statement that its healthcare clinics ceased operations on June 19. KindlyMD's healthcare operations had continued through Kindly LLC, a wholly owned subsidiary, until the June 19 closure. Additional administrative activities associated with the wind-down of the legacy healthcare business are expected to be completed in the third quarter of 2026, per the statement.
Company Transitions to Bitcoin Operating Model
"We have built a differentiated platform spanning the world's leading Bitcoin media and events enterprise, a growing asset management business, and an advisory practice --- and we are now entirely focused on scaling those businesses and building durable long-term value for our shareholders," Nakamoto CEO David Bailey said. The company's pivot centers on three core areas: media and information services, asset management, and consulting and advisory businesses designed to generate recurring revenue.
According to The Block's data dashboard, Nakamoto held 4,467 BTC as of June 23, valued at approximately $278.5 million. By comparison, Michael Saylor's Strategy, the largest corporate bitcoin holder, holds 847,363 BTC valued at $52.9 billion. Twenty One Capital holds 43,514 BTC.
Nakamoto Reports $238.8 Million Q1 2026 Loss
Nakamoto reported a $238.8 million net loss in the first quarter of 2026, driven largely by non-cash losses tied to its bitcoin holdings and investment portfolio, alongside transaction and integration costs related to recent acquisitions. The company was formed through a merger with healthcare operator KindlyMD that raised approximately $540 million in gross proceeds from a PIPE financing to fund bitcoin purchases.
Stock Closes at $4.09, Down 99% Since May 2025 Peak
Nakamoto shares closed at $4.09 on Tuesday, down 2.85% on the day, per TradingView. The stock has fallen over 99% since peaking shortly after the company announced its merger with KindlyMD and began positioning around a bitcoin accumulation strategy in May 2025.
FAQ
When did Nakamoto Inc. close its healthcare clinics?
Nakamoto Inc. announced that its healthcare clinics ceased operations on June 19. Additional administrative activities associated with the wind-down of the legacy healthcare business are expected to be completed in the third quarter of 2026.
How much bitcoin does Nakamoto Inc. hold?
According to The Block's data dashboard, Nakamoto held 4,467 BTC as of June 23, valued at approximately $278.5 million. The company raised approximately $540 million in gross proceeds from a PIPE financing to fund bitcoin purchases through its merger with KindlyMD in 2025.
