Nakamoto Inc. has shut down its legacy healthcare clinics, bringing the patient-facing operations tied to the former KindlyMD business to an end. The company said the clinics stopped operating on June 19, and the remaining administrative work related to the wind-down is expected to be completed in the third quarter of 2026.
Chairman and CEO David Bailey said that with the clinics now closed, Nakamoto remains focused on executing its strategy as a Bitcoin operating company. That leaves the company with a clean break from healthcare and a business model built around Bitcoin-focused activities.
Three business lines now define the company
Nakamoto said it now operates through three main segments: media and information services, asset management and financial services, and consulting and advisory services. The company said this structure is intended to generate recurring revenue and support growth across those areas.
The group is also the parent company of BTC Inc., the media business behind Bitcoin Magazine, The Bitcoin Conference, and Bitcoin for Corporations. It also owns UTXO Management, a Bitcoin-native asset manager focused on public and private market investments connected to the Bitcoin ecosystem.
Merger and treasury accumulation remain at the center
The strategic shift follows Nakamoto’s merger with healthcare operator KindlyMD. Earlier reports said the combined company raised about $540 million through PIPE financing, with the proceeds earmarked for direct Bitcoin purchases.
The company also made an early large acquisition of Bitcoin after the merger, buying more than 5,700 BTC. At the time, that purchase placed KindlyMD among the larger public corporate Bitcoin holders and reinforced that the new Nakamoto model was centered on treasury accumulation.
With the clinic closures, the last active operating piece of the old healthcare business has now been removed. KindlyMD’s healthcare operations had continued through the wholly owned subsidiary Kindly LLC until the June 19 shutdown.
Stock pressure, Bitcoin holdings, and quarterly losses remain in focus
Nakamoto still faces a difficult market backdrop. According to Google Finance data, NAKA traded near $4.09 after falling during Tuesday’s session. The stock has been under pressure since the company announced its merger with KindlyMD and moved toward a Bitcoin accumulation strategy in 2025.
BitcoinTreasuries listed Nakamoto with 4,467 BTC worth about $286.7 million as of June 23. That holding places the company below larger public Bitcoin treasury names such as Strategy and Twenty One Capital, though it remains within the upper group of listed corporate holders.
Nakamoto also reported a net loss of $238.8 million in the first quarter of 2026. The loss was tied mainly to non-cash changes linked to Bitcoin holdings and its investment portfolio, along with transaction and integration costs related to recent acquisitions. The company’s next test is whether its media, asset management, and advisory operations can produce revenue while carrying the volatility that comes with a Bitcoin-heavy balance sheet.