Steven Lubka Joins Nakamoto Holdings as Vice President of Investor Relations

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Accomplished Executive Has Supported Over $4.5 Billion in Private Wealth Allocations to Bitcoin

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June 12, 2025 – Nakamoto Holdings Inc. (“Nakamoto”), a Bitcoin-native holding company in the process of merging with Kindly MD, Inc. (NASDAQ: NAKA), announced today the appointment of Steven Lubka as Vice President of Investor Relations. In this role, Steven will lead Nakamoto’s engagement with various stakeholders, including institutional investors, high-net-worth individuals, analysts, funds, and capital partners. He will oversee investor communications and amplify Nakamoto’s mission to integrate Bitcoin into the core of global capital markets.

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Steven has built a career focused on the intersection of Bitcoin, macroeconomics, and portfolio construction. He most recently served as Head of Private Wealth at Swan Bitcoin, where he led efforts to serve high-net-worth individuals, family offices, and businesses while expanding retirement and custody offerings and developing wealth strategies tailored to Bitcoin’s unique properties. Previously, as Managing Director and Head of Private Clients and Family Offices, he oversaw Swan Private, building what has become the Bitcoin industry’s leading private wealth platform.

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“Steven brings a unique combination of deep Bitcoin conviction, economic insight, and a proven track record of serving sophisticated investors,” said David Bailey, Founder and CEO of Nakamoto. “He has built the gold standard for Bitcoin-focused private wealth services, helping high-net-worth individuals and institutions navigate portfolio construction in a Bitcoin-native world. As we continue to scale Nakamoto, Steven will be crucial in shaping how we communicate our vision and deliver value to key stakeholders.”

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Steven added, “I am thrilled to join Nakamoto at a moment when I believe Bitcoin is becoming a cornerstone of institutional and public market strategy. Throughout my career, I have been committed to helping investors understand how Bitcoin fits within long-term portfolio construction. I believe Bitcoin treasury companies will be a primary vehicle through which global capital gains large-scale access to Bitcoin. Nakamoto’s vision offers a compelling model for building these treasuries worldwide, and I’m excited to help bring that story to the global investment community.”

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Steven has previously been featured by CNBC, The Wall Street Journal, Bloomberg, NPR, Politico, and numerous Bitcoin-focused podcasts and media outlets. He was also nominated for and attended the Global Liberty Institute’s first Rising Young Leaders program, recognizing his thought leadership at the intersection of finance and technology.

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About Nakamoto

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Nakamoto is a Bitcoin treasury company building a global portfolio of Bitcoin-native companies. Founded by Bitcoin visionary David Bailey, Nakamoto plans to establish the first publicly traded conglomerate of Bitcoin companies by accumulating Bitcoin in its treasury and by leveraging its treasury to acquire and develop an ecosystem of Bitcoin companies across finance, media, advisory and more. The company aims to provide commercial and financial infrastructure for the next generation of capital markets. Nakamoto recently announced a proposed merger agreement with KindlyMD (NASDAQ: NAKA) to establish a Bitcoin treasury strategy. The parties secured approximately $710 million in financing, including approximately $510 million in a PIPE, marking it among the largest PIPE for any public crypto-related transaction. For more information, please visit nakamoto.com.

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Forward-Looking Statements

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All statements, other than statements of historical fact, included in this release that address activities, events or developments that Kindly MD or Nakamoto expects, believes or anticipates will or may occur in the future are forward-looking statements. Words such as “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “potential,” “create,” “intend,” “could,” “would,” “may,” “plan,” “will,” “guidance,” “look,” “goal,” “future,” “build,” “focus,” “continue,” “strive,” “allow” or the negative of such terms or other variations thereof and words and terms of similar substance used in connection with any discussion of future plans, actions, or events identify forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. These forward-looking statements include, but are not limited to, statements regarding the proposed merger and related transactions, (collectively, the “Transactions”) the expected closing of the proposed Transactions and the timing thereof and as adjusted descriptions of the post-transaction company and its operations, strategies and plans, integration, debt levels and leverage ratio, capital expenditures, cash flows and anticipated uses thereof, synergies, opportunities and anticipated future performance, including the management team and board of directors of the combined company and expected use of proceeds from the Transactions, and any post-closing transactions contemplated between the combined company and BTC Inc (and/or UTXO, LLC through BTC Inc). Information adjusted for the proposed Transactions should not be considered a forecast of future results. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this release. These include the risk that Kindly MD and Nakamoto businesses (which may include the businesses of BTC Inc and/or UTXO in the future, as applicable) will not be integrated successfully and the risk that Kindly MD or the applicable governing bodies of BTC Inc and/or UTXO may not pursue or approve the terms of an acquisition of BTC Inc and/or UTXO; the risk that cost savings, synergies and growth from the proposed transaction may not be fully realized or may take longer to realize than expected; the possibility that shareholders of Kindly MD may not approve the issuance of new shares of Kindly MD common stock in the Transactions or that shareholders of Kindly MD may not approve the Transactions; the risk that a condition to closing of the Transactions may not be satisfied, that either party may terminate the merger agreement, the subscription agreements of the convertible debt purchase agreement or that the closing of the Transactions might be delayed or not occur at all; potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the Transactions; the parties do not receive regulatory approval of the Transactions; the occurrence of any other event, change, or other circumstances that could give rise to the termination of the merger agreement relating to the Transactions; the risk that changes in Kindly MD’s capital structure and governance could have adverse effects on the market value of its securities; the ability of Kindly MD and Nakamoto to retain customers and retain and hire key personnel and maintain relationships with their suppliers and customers and on Kindly MD and Nakamoto’s operating results and business generally; the risk the Transactions could distract management from ongoing business operations or cause Kindly MD and/or Nakamoto to incur substantial costs; the risk that Kindly MD may be unable to reduce expenses or access financing or liquidity; the impact of any related economic downturn; the risk of changes in governmental regulations or enforcement practices; and other important factors that could cause actual results to differ materially from those projected. All such factors are difficult to predict and are beyond Kindly MD’s and Nakamoto’s control, including those detailed in Kindly MD’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and such other documents of Kindly MD filed, or to be filed, with the SEC that are or will be available on Kindly MD’s website at www.kindlymd.com and on the website of the SEC at www.sec.gov. All forward-looking statements are based on assumptions that Kindly MD and Nakamoto believe to be reasonable but that may not prove to be accurate. Any forward-looking statement speaks only as of the date on which such statement is made, and neither Kindly MD or Nakamoto undertakes any obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.

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Media Contacts

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Carissa Felger/Sam Cohen
Gasthalter & Co.
(212) 257-4170
Nakamoto@gasthalter.com

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For Kindly MD:

Valter Pinto, Managing Director  
KCSA Strategic Communications  
(212) 896-1254  
KindlyMD@KCSA.com