Thomas Daniels
Next Technology Holding Inc., China’s largest corporate holder of Bitcoin, has announced plans to raise up to $500 million through a public stock offering, signaling a deepening commitment to its digital asset strategy. The Nasdaq-listed software firm intends to use the proceeds primarily for general corporate purposes, which may include acquiring additional Bitcoin.
With 5,833 Bitcoin currently on its balance sheet—valued at approximately $671.8 million—Next Technology ranks as the 15th largest Bitcoin-holding public company globally. The firm’s position places it ahead of other notable U.S.-based holders such as KindlyMD, Semler Scientific, and GameStop. At current market prices, even allocating half of the planned capital raise would allow the firm to acquire an additional 2,170 Bitcoin, pushing its total holdings beyond the 8,000 BTC mark.
The move is part of a broader wave of corporate adoption of Bitcoin, as public companies increasingly turn to traditional financing instruments—such as equity, convertible notes, and preferred stock—to fund digital asset acquisitions. The number of publicly traded firms holding Bitcoin has surged to 190, up from fewer than 100 at the beginning of the year. Collectively, these companies now hold over 1 million Bitcoin, representing more than 5% of the asset’s current circulating supply.
While MicroStrategy continues to dominate corporate Bitcoin holdings with nearly 639,000 BTC, Next Technology’s agile approach offers a compelling contrast. The firm has opted not to set a fixed Bitcoin accumulation target, instead committing to a market-responsive strategy. In its latest regulatory filing, the company stated that it would monitor market conditions before executing further purchases, distinguishing itself from peers such as Metaplanet and Semler Scientific, which have set explicit targets of 210,000 BTC and 105,000 BTC respectively by 2027.
Despite the bullish sentiment behind the offering, the market responded cautiously. Shares of Next Technology (NXTT) fell 4.76% to $0.14 during regular trading hours, followed by a further 7.43% decline in after-hours trading. Still, the firm has realized significant gains from its earlier investments. It acquired its first 833 Bitcoin in December 2023, followed by a 5,000 BTC purchase in March 2024, at an average cost basis of $31,386—yielding a paper return of roughly 266.7%.
Next Technology, which offers AI-driven software solutions across markets including the United States, Hong Kong, and Singapore, is among a growing cohort of technology firms integrating Bitcoin into their broader financial strategy. As institutional adoption accelerates, the convergence of corporate finance and digital assets is increasingly defining capital allocation decisions across the public markets.
