Nakamoto Inc. (NOTE) Closes Last Healthcare Clinic, Completes Full Pivot To Bitcoin
Nakamoto Inc. (Nasdaq: NAKA) closed the last of its legacy health care clinics on June 19, 2026, completing a pivot that transforms the Nashville-based company into a Bitcoin-enabled business with no remaining ties to the health care sector it once defined.
This move has been in the works for months. Nakamoto has gradually built three vertical divisions – media and information services, asset management and financial services, and consulting and advisory services – all of which are designed to generate continuous income outside of the Bitcoin price.
The remaining administrative operations from the health care divestment are expected to close by the end of Q3 2026.
Chairman and CEO David Bailey called it a clean break. “With our health clinics now closed, Nakamoto continues to focus on executing its strategy as an active Bitcoin company,” Bailey said in a statement on Monday. “We are now fully focused on growing those businesses and building long-term value for our shareholders.”
Direct media is the most visible part of the platform. Through subsidiary BTC Inc., the company manages Bitcoin Magazine, the Bitcoin Conference, and the Bitcoin for Corporations program – a series of properties that give the company access to institutional and retail Bitcoin communities that competitors cannot replicate.
The asset management arm, UTXO Management, manages public and private market investments throughout the Bitcoin space. The advisory practice targets corporate clients seeking Bitcoin strategy and market intelligence.
All three businesses are designed to generate cash without relying on BTC treasury appreciation – a structural difference that separates Nakamoto from simple Bitcoin holding companies.
Nakamoto’s revolution playing pure-bitcoin
The transition was not without cost. In March 2026, Nakamoto sold 284 BTC, booking a fair value loss of $166.2 million for the 2025 fiscal year.
In June, the company sold almost all BTC and Bitcoin derivatives to repay the debt obligation to Kraken, pushing the remaining maturity of the loan to 2027. Nakamoto ended that transaction holding approximately 4,467 BTC on its balance sheet.
The health care clinic’s roots date back to KindlyMD, Inc. (then trading as KDLY), a Salt Lake City-based healthcare provider founded in 2019 as Utah Therapeutic Health Center, specializing in holistic pain management and opioid-alternative care.
On May 12, 2025, KindlyMD entered into a definitive merger agreement with Nakamoto. The deal was funded in excess of $710 million, including approximately $540 million in PIPE raises and $200 million in convertible notes, attracting more than 200 investors on six continents.
KindlyMD shareholders approved the transaction by written consent on May 18, 2025, and the merger closed on August 14, 2025.
Nakamoto became a wholly owned subsidiary and the combined company was renamed Nakamoto Inc. January 2026 – trades on Nasdaq under the ticker NAKA.
Bitcoin Magazine is published by BTC Inc, a subsidiary of Nakamoto Inc. (NASDAQ: NAKA)
