KindlyMD (NAKA) has added Kraken as its latest lender, securing a $210 million bitcoin-backed loan to pay off an existing facility from Antalpha Digital, according to a recent SEC filing. The Antalpha loan had previously been used to settle a credit line from Two Prime Lending, highlighting the company’s ongoing strategy of refinancing its crypto-backed debt.
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 also provides flexibility for the company to draw either fiat or digital assets under separate term sheets as needed.
The credit is fully secured with bitcoin, requiring a minimum collateral posting of $323.4 million—roughly 3,500 BTC at current market prices. With a total holding of 5,398 BTC, KindlyMD ranks among the 20 largest corporate bitcoin holders, according to BitcoinTreasuries.net.
Kraken becomes the fourth lender to participate in KindlyMD’s financing this year, joining Yorkville Advisors, Two Prime Lending, and Antalpha Digital in supporting the company’s crypto-backed borrowing strategy.
