Nakamoto Inc., the bitcoin treasury firm led by David Bailey, has permanently closed its legacy healthcare clinics as of June 19, 2026, finalizing its shift away from a medical business that originated from its 2025 merger with KindlyMD. The move discontinues all patient-facing operations previously conducted through Kindly LLC, a wholly owned subsidiary, and leaves Nakamoto solely focused on its bitcoin-centric 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,” said CEO David Bailey. The company now operates three primary divisions: media and information services (including Bitcoin Magazine and The Bitcoin Conference), asset management and financial services through UTXO Management, and consulting and advisory services. The model is designed to generate recurring revenue while reducing reliance on legacy healthcare income.
Nakamoto raised approximately $540 million in PIPE financing shortly after the KindlyMD merger, earmarked for bitcoin purchases. As of June 23, the firm held 4,467 BTC, valued at around $278.5 million, ranking it among the notable public corporate bitcoin holders but still far behind Strategy’s 847,363 BTC. Nakamoto’s stock (NAKA) closed at $4.09, down over 99% from its post-merger peak in May 2025. The company reported a $238.8 million net loss in Q1 2026, driven largely by non-cash markdowns on its bitcoin holdings and integration costs. Remaining administrative wind-down tasks are expected to wrap up in Q3 2026.
