KindlyMD Unveils $5 Billion Equity Program for Bitcoin Treasury Expansion

Nasdaq Healthcare Firm Targets Flexible Capital Raise for Crypto Strategy

Nasdaq-listed healthcare services company KindlyMD disclosed Tuesday that it has filed a shelf registration statement with the Securities and Exchange Commission for an at-the-market equity offering program of up to $5 billion. The company said proceeds from the issuance will be allocated toward general corporate purposes, with a key focus on expanding its bitcoin treasury.

The offering permits the firm to issue and sell as much as $5 billion in common stock over time through a group of designated sales agents, including TD Securities, Cantor Fitzgerald, and B. Riley Securities. Shares will be sold at prevailing market prices on the Nasdaq or related levels, with the timing and size of each tranche determined by the company. The shelf registration allows the healthcare provider to raise capital flexibly without seeking repeated approvals for every offering round.

KindlyMD’s shift into bitcoin follows its recent merger with Nakamoto Holdings, a bitcoin-focused entity that positioned the healthcare group directly into corporate crypto treasury strategies. Shortly after completing the merger, the company purchased 5,744 BTC, marking its first significant step into digital assets. The move places KindlyMD among a growing cohort of publicly traded firms that have adopted bitcoin allocations as part of their balance sheet strategy, echoing the approach of Michael Saylor’s Strategy, which pioneered large-scale corporate bitcoin reserves.

Corporate adoption has increasingly become a factor in shaping the crypto price index and overall market sentiment. While bitcoin and Ethereum remain the dominant assets in these treasuries, several firms have begun diversifying into altcoins such as Solana, BNB, and XRP. The trend highlights a shift in treasury management practices, where exposure to digital assets is considered alongside traditional reserves. As capital flows into corporate bitcoin strategies expand, the coin market cap and broader crypto price dynamics may face heightened sensitivity to institutional decision-making.

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