- Trending
- Comments
- Latest
A Chinese Bitcoin treasury firm is preparing to raise as much as $500 million through a stock offering to expand its Bitcoin holdings and fund general corporate purposes.
In a filing to the U.S. Securities and Exchange Commission on Monday, Next Technology Holding (Nasdaq: NXTT), described as China’s largest corporate Bitcoin holder, confirmed that proceeds from the stock sale would be partly allocated toward further Bitcoin acquisitions.
“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 wrote in its filing.
Next Technology currently holds 5,833 Bitcoin worth approximately $671.8 million, according to BitcoinTreasuries.net. That makes the Chinese Bitcoin treasury firm the world’s 15th largest corporate holder of BTC ahead of U.S.-based firms such as GameStop and Semler Scientific.
Analysts estimate that allocating half of the $500 million to Bitcoin at current market prices could add another 2,170 BTC to its balance sheet, bringing total holdings above 8,000 BTC.
The strategy reflects a broader movement of public companies adopting Bitcoin as a treasury asset. Over the past year, corporations have tapped equity offerings, convertible notes, and preferred stock to finance Bitcoin purchases.
There are now 190 publicly listed firms globally with Bitcoin on their balance sheets which went up from fewer than 100 at the beginning of 2025. Combined, these companies hold more than 1 million Bitcoin, equivalent to over 5% of the circulating supply.
“Corporate adoption of Bitcoin has accelerated faster than expected,” said Alex Thorn, Head of Research at Galaxy Digital. “The fact that a Chinese Bitcoin treasury firm is joining the likes of MicroStrategy and Metaplanet shows this trend is no longer U.S.-centric.”
MicroStrategy, led by Michael Saylor, remains the dominant player with nearly 639,000 BTC under management, dwarfing the next closest competitors.
Despite the ambitious expansion plan, the announcement initially unsettled investors. Shares of Next Technology (NXTT) fell 4.76% to $0.14 on the Nasdaq on Monday, followed by an additional 7.43% drop in after-hours trading, according to Google Finance.
The reaction mirrors similar short-term volatility seen when other firms disclosed large-scale Bitcoin purchases.
“Equity holders often worry about dilution or increased exposure to crypto volatility,” explained Clara Medalie, Director of Research at Kaiko. “But over the longer term, these moves have typically boosted balance sheets when Bitcoin rallies.”
Next Technology, which operates AI-driven software services in the U.S., Hong Kong, and Singapore, has already benefited from its Bitcoin strategy. The company bought its first 833 BTC in December 2023, followed by another 5,000 BTC in March 2025. With an average purchase price of $31,386 per Bitcoin, the Chinese Bitcoin treasury firm is sitting on a paper profit of 266.7%.
Unlike rivals Metaplanet and Semler Scientific, which have set explicit targets of acquiring 210,000 BTC and 105,000 BTC by 2027, Next Technology has not committed to a fixed target.
In its SEC filing, the firm said it would “monitor market conditions” and take a month-by-month approach to acquisitions.
That stance may reassure some investors wary of overexposure. “A flexible strategy allows the company to scale its position without overcommitting during market peaks,” said Markus Thielen, Head of Research at 10x Research.
Still, the broader picture is clear: as Bitcoin continues its ascent past $115,000, the participation of a Chinese Bitcoin treasury firm underscores the asset’s global appeal as a corporate reserve.
For crypto investors, the move signals both opportunity and caution. On one hand, sustained accumulation by treasury firms could deepen market liquidity and support higher valuations. On the other, heavy concentration of Bitcoin in corporate hands raises concerns about sell-off risks if firms face financial pressure.
As the market watches how Next Technology Holding executes its plan, one fact remains: the rise of the Chinese Bitcoin treasury firm adds a new dimension to the corporate Bitcoin adoption narrative, once led almost exclusively by U.S. and Japanese firms.
“Bitcoin has become a strategic reserve asset for corporations worldwide,” said Thorn of Galaxy Digital. “Every new entrant, especially a Chinese Bitcoin treasury firm, reinforces the case that BTC is transitioning into an institutional-grade asset class.”
