KindlyMD (NAKA) has secured a new financing deal with Kraken, tapping the crypto exchange for a $210 million bitcoin-backed loan that will be used to retire an outstanding facility from Antalpha Digital, according to a recent SEC filing. The Antalpha loan had previously been taken out to pay down a credit line from Two Prime Lending.

The one-year agreement, executed by KindlyMD’s subsidiary Nakamoto Holdings, carries an 8% annual interest rate and matures on Dec. 4, 2026. The filing states that the structure allows the company to draw either fiat or digital assets under separate loan term sheets as needed.

The facility is fully collateralized by bitcoin. KindlyMD must maintain at least $323.4 million worth of BTC—roughly 3,500 coins at current prices—as collateral. The company holds 5,398 BTC in total, making it the 19th-largest corporate holder of the asset, per BitcoinTreasuries.net.

Kraken is the fourth lender the company has turned to this year, following prior financing arrangements with Yorkville Advisors, Two Prime, and Antalpha Digital.