Next Technology Plans $500M Raise to Expand Bitcoin Stash

Although Bitcoin treasury companies are gaining traction, Next Technology’s stock took a dip after the announcement was made. Meanwhile, Strategy expanded its massive lead in the sector by lifting its holdings to nearly 639,000 BTC worth over $73 billion after a fresh $60 million purchase. Overall, both Next Technology Holding and Michael Saylor’s Strategy are doubling down on corporate Bitcoin adoption.

Next Technology Looks to Boost Bitcoin Holdings

China’s largest corporate Bitcoin treasury firm, Next Technology Holding, announced plans to sell up to $500 million of its common stock to expand its already sizable Bitcoin holdings. In a filing with the US Securities and Exchange Commission on Monday, the company stated that the funds will be allocated for general corporate purposes, and explicitly pointed out  that a portion would go toward the acquisition of more Bitcoin. 

Next Technology is a Nasdaq-listed AI-powered software company with operations in the US, Hong Kong, and Singapore. It currently holds 5,833 Bitcoin that is valued at around $671.8 million, making it the 15th largest corporate Bitcoin holder in the world. Data from BitcoinTreasuries.NET shows its holdings surpass those of KindlyMD, Semler Scientific, and GameStop.

Top public Bitcoin treasury companies (Source: BitcoinTreasuries.NET)

If even half of the $500 million offering were directed toward Bitcoin purchases, the firm could buy an estimated 2,170 additional coins at current prices, lifting its total holdings to more than 8,000 Bitcoin. 

The broader adoption of Bitcoin by corporations accelerated quite a bit this year, with 190 publicly listed companies now reporting Bitcoin holdings, this is up from fewer than 100 at the beginning of 2025. Collectively, these firms now hold more than 1 million Bitcoin, which is over 5% of the total supply. Michael Saylor’s Strategy is the leader in this sector.

Despite the bold move, Next Technology’s shares reacted negatively to the news. The stock dropped 4.76% to $0.14 during Monday’s session and slid another 7.43% in after-hours trading, according to Google Finance. However, the company enjoyed major gains on its Bitcoin purchases to date, having entered the market with 833 Bitcoin in December of 2023 and adding another 5,000 coins in March this year. With an average purchase price of $31,386 per coin, its holdings are sitting on a paper profit of 266.7%.

Next Technology’s share price over the past 24 hours (Source: Google Finance)

Unlike competitors like Metaplanet and Semler Scientific, which have set ambitious goals of amassing 210,000 Bitcoin and 105,000 Bitcoin respectively by 2027, Next Technology took a more flexible approach. The company stated that it has not set a fixed target for its Bitcoin accumulation and will instead monitor market conditions on a month-to-month basis. This measured strategy suggests the firm wants to stay adaptable.

Strategy Boosts Bitcoin Stash

Michael Saylors Strategy recently pushed its Bitcoin holdings to more than $73 billion after announcing yet another sizable purchase. In a notice that was released on Monday, Saylor confirmed the company bought 525 Bitcoin for roughly $60 million at an average price of $114,562 per coin. 

This latest purchase raised Strategy’s total stash to 638,985 Bitcoin. Its stockpile has been steadily growing since the company first embraced Bitcoin as part of its treasury strategy in August of 2020 with an initial $250 million investment. The firm has since built a reputation for consistently adding to its holdings.

Saylor’s decision to establish a Bitcoin treasury was one of the earliest and most prominent corporate moves to use the asset as a hedge against inflation, and the strategy has since been mirrored by other companies worldwide. While Bitcoin is still the dominant choice, some firms have diversified into other digital assets like Solana, Ethereum, and Dogecoin. 

The influence of Strategy’s Bitcoin bet also extended far beyond its own balance sheet. Many investors, including US pension funds in states like Arizona, California, Colorado, Florida, Louisiana, Maryland, New Jersey, Texas, and Utah, have gained indirect exposure to Bitcoin through shares of Strategy’s stock (MSTR). This approach provided access to digital assets in cases where state policies or public concerns limit direct investment in cryptocurrencies. 

The landscape could shift even more after an executive order that was signed by President Donald Trump in August, which opens the door for 401(k) retirement plans to include cryptocurrencies as part of their investment options.

Alongside its core Bitcoin strategy, Strategy introduced yield-focused products like STRF and STRK, preferred shares linked to Bitcoin’s performance, and leveraged ETFs tied to its holdings. With Bitcoin’s price hovering above $115,000, Strategy’s accumulation delivered impressive returns, and its stock has surged more than 140% in the past year.