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Next Technology Expands Bitcoin Holdings Amid Corporate Crypto Boom
Next Technology Holding, China’s largest corporate Bitcoin treasury firm, is preparing to sell up to $500 million in common stock, with part of the proceeds earmarked for acquiring more Bitcoin, according to a recent filing with the U.S. Securities and Exchange Commission (SEC).
Current Bitcoin Holdings and Potential Expansion
The Nasdaq-listed software company currently holds 5,833 Bitcoin, valued at approximately $671.8 million, ranking it as the 15th largest corporate Bitcoin treasury globally, surpassing firms such as KindlyMD, Semler Scientific, and GameStop, per BitcoinTreasuries.NET. Analysts note that if Next Technology allocates even half of its $500 million stock offering to Bitcoin purchases, it could acquire an additional 2,170 BTC, pushing total holdings above 8,000 Bitcoin.
Corporate Bitcoin Adoption Trend
Next Technology’s move reflects a growing trend among public companies using equity, convertible debt, perpetual preferred stock, and SPACs to fund Bitcoin purchases. Currently, 190 publicly listed companies hold Bitcoin on their balance sheets—up from fewer than 100 at the start of the year. Their combined holdings recently surpassed 1 million BTC, representing over 5% of Bitcoin’s circulating supply. Michael Saylor’s Strategy remains the leader, with nearly 639,000 Bitcoin on its balance sheet.
Following the announcement, Next Technology (NXTT) shares dropped 4.76% to $0.14 on Nasdaq and an additional 7.43% in after-hours trading, despite the firm having realized a substantial paper gain of 266.7% from prior Bitcoin purchases at an average cost of $31,386.
Unlike firms such as Metaplanet and Semler Scientific, which have set ambitious multi-year Bitcoin accumulation targets, Next Technology intends to take a month-by-month approach, monitoring market conditions without a fixed target for total Bitcoin holdings.
With this new stock offering, Next Technology is solidifying its position as a major player in corporate Bitcoin accumulation, bridging Asian markets with global crypto treasury trends.
