KindlyMD Inc., the healthcare company that operates a Bitcoin treasury through its subsidiary Nakamoto Holdings, said Wednesday that its board of directors authorized a share buyback program, giving management discretion to buy back shares as shares trade below the value of the company’s bitcoin holdings.
The Nasdaq-listed company said it can buy back shares through open market purchases, privately negotiated transactions, block trades or other legally permitted methods.
Repurchases may also be executed pursuant to Rule 10b5-1 trading plans and will comply with Rule 10b-18 of the Exchange Act.
“This share repurchase program reflects our confidence in the long-term value of the company and adds an important degree of flexibility to our capital allocation framework,” said David Bailey, president and CEO of KindlyMD.
“As shareholders, we remain focused on deploying capital with discipline and intention, balancing continued investment in our strategic priorities with actions that we believe will create lasting value for all shareholders.”
The authorization does not commit KindlyMD to repurchase any specific number of shares. Management will determine the timing and size of any repurchase based on market conditions, capital requirements, business liquidity and regulatory considerations.
The board may modify, suspend or terminate the program at any time, the company said.
$NAKA and KindlyMD Stock Merger
The move comes after a sharp sell-off in KindlyMD shares following its merger earlier this year with Nakamoto Holdings, a bitcoin-native treasury firm.
Shares of KindlyMD, trading under the symbol ‘NAKA,’ have fallen more than 95% from their peak during the spring bitcoin treasury surge. Shares are currently trading near $0.37.
According to the company’s public dashboard, KindlyMD has 5,398 bitcoins on its balance sheet. At a bitcoin price close to $88,000, those holdings are valued at roughly $1 billion, well above the company’s enterprise value, estimated at about $400 million.
KindlyMD has positioned bitcoin as a long-term balance sheet asset rather than a short-term trading instrument, while continuing to operate integrated healthcare clinics and data-driven care services.
The share buyback authorization adds another financial lever as the company navigates market volatility, regulatory pressure and investor scrutiny following its rapid rise and fall in 2025.
Divulgation: Nakamoto is partnering with Bitcoin Magazine’s parent company, BTC Inc, to build the first global network of Bitcoin treasury companies, where BTC Inc provides certain marketing services to Nakamoto. More information about this can be found. here.
