Next Technology Holding, China’s largest public company holding Bitcoin, plans to raise up to $500 million through a common stock sale, with the intent to purchase more BTC and fund other corporate initiatives.
Key Takeaways:
- Next Technology plans to raise $500M to buy more Bitcoin, potentially boosting its holdings beyond 8,000 BTC.
- It currently holds 5,833 BTC, making it the 15th-largest corporate Bitcoin holder worldwide.
- The firm has no fixed Bitcoin target, saying it will monitor market conditions before further purchases.
“We intend to use the net proceeds from the sale of any securities offered under this prospectus for general corporate purposes, including, but not limited to, the acquisition of Bitcoin,” the firm said in a filing submitted to the SEC on Monday.
Next Technology Becomes 15th-Largest Corporate Bitcoin Holder
Next Technology currently holds 5,833 Bitcoin worth approximately $671.8 million, making it the 15th-largest Bitcoin treasury globally, according to BitcoinTreasuries.NET.
That places it ahead of other corporate holders such as KindlyMD, Semler Scientific, and GameStop.
If the company allocates even half of the proceeds from this new offering to BTC, it could purchase another 2,170 Bitcoin at current prices, pushing its holdings beyond the 8,000 mark.
The move reflects a broader trend among public companies using equity raises, convertible notes, and other capital market tools to accumulate Bitcoin as a strategic asset.
The number of listed companies holding Bitcoin has nearly doubled in 2025, now totaling 190 with combined holdings exceeding 1 million BTC, over 5% of the total supply.
Shares of Next Technology (NXTT) fell 4.76% on Monday to $0.14, with an additional 7.43% drop in after-hours trading following the announcement, according to Google Finance data.
Despite the dip, the company has seen significant unrealized gains on its Bitcoin investment.
It first acquired 833 Bitcoin in December 2023 and followed up with a 5,000 BTC purchase in late March, averaging a cost basis of $31,386.
With BTC currently trading around $115,000, Next Technology is sitting on a paper gain of over 266%.
Unlike firms such as Japan’s Metaplanet and the US-based Semler Scientific, which have set ambitious Bitcoin accumulation targets, Next Technology said it has no fixed BTC goal, and will “monitor market conditions” before making additional purchases.
Strategy Tops Corporate Bitcoin Holdings with 636,505 BTC
Aside from Next Technology, many other corporate companies are also adding BTC to their balance sheets.
Michael Saylor’s Strategy now holds 636,505 BTC, making it the largest corporate holder by a wide margin.
Bitcoin mining firm MARA Holdings remains in second with 52,477 BTC, after adding 705 BTC in August.
But new entrants are gaining ground. XXI, founded by Strike CEO Jack Mallers, has amassed 43,514 BTC, while the Bitcoin Standard Treasury Company holds 30,021 BTC.
Other major players include crypto exchange Bullish (24,000 BTC), Metaplanet (20,000 BTC), and publicly listed names like Riot Platforms, Trump Media & Technology Group, CleanSpark, and Coinbase.
This wave of accumulation has fueled speculation around a supply shock. With just 5.2% of Bitcoin’s fixed 21 million supply left to be mined, continued corporate demand could drive prices even higher.
Some firms are aiming much higher. Japan’s Metaplanet and U.S.-based Semler Scientific have set targets of 210,000 BTC and 105,000 BTC by 2027, ten to twenty times their current holdings.
Outside the US, 120 public companies now hold Bitcoin. Canada, the UK, Hong Kong, Mexico, South Africa, and Bahrain are among the countries where corporate BTC ownership is growing.
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