Antalpha Partners with KindlyMD to Provide $250M Bitcoin-Backed Funding

KindlyMD (NAKA) has entered a partnership with Antalpha to establish a $250 million secured convertible debt facility, designed to expand its bitcoin treasury and strengthen long-term balance sheet flexibility.

Through its subsidiary Nakomoto Holdings, KindlyMD will leverage Antalpha’s expertise in digital asset financing to develop new treasury tools for bitcoin-focused companies.

The non-binding agreement calls for a five-year convertible note issuance to Antalpha, with proceeds earmarked to refinance a previous $203 million bitcoin-secured credit line from Two Prime Lending and to grow KindlyMD’s bitcoin holdings. Pending the facility’s completion, Antalpha will also provide an interim bitcoin-backed loan.

KindlyMD currently holds 5,765 BTC. Its shares are trading just above $1, reflecting a roughly 95% drop from their all-time high in May.