KindlyMD (NAKA) has secured a $210 million bitcoin-backed loan from crypto exchange Kraken, according to a recent SEC filing. The proceeds will be used to retire an outstanding facility from Antalpha Digital, which had previously refinanced a credit line from Two Prime Lending, continuing the company’s pattern of strategic refinancing.
The one-year loan, arranged through KindlyMD’s subsidiary Nakamoto Holdings, carries an 8% annual interest rate and matures on Dec. 4, 2026. The agreement allows the company to borrow either fiat or digital assets on a case-by-case basis under separate term sheets.
The facility is fully collateralized with bitcoin, requiring KindlyMD to post a minimum of $323.4 million in BTC—roughly 3,500 coins at current prices. The company holds 5,398 BTC in total, ranking it among the 20 largest corporate holders of the cryptocurrency, according to BitcoinTreasuries.net.
Kraken joins a list of lenders that have supported KindlyMD this year, following prior arrangements with Yorkville Advisors, Two Prime Lending, and Antalpha Digital.
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