China’s Next Technology Holding is preparing to raise as much as $500 million through a stock offering, with a portion reserved for the purchase of Bitcoin.
The company, which has already been listed on Nasdaq, shared the plan in a filing with the U.S. Securities and Exchange Commission (SEC), this week. The software giant noted that proceeds would go toward “general corporate purposes,” which may include boosting its Bitcoin reserves.
The company already sits among the world’s largest corporate Bitcoin holders. According to BitcoinTreasuries.net, Next Technology currently owns 5,833 Bitcoin valued at around $672 million. This figure ranks it 15th globally.
A new purchase funded by the offering could significantly expand that position. If half of the planned raise went toward Bitcoin at current prices, Next Technology could add more than 2,000 coins, lifting its total to over 8,000.
Part of a Broader Trend
Next isn’t alone in boosting its Bitcoin holdings. Instead, its recent move is part of a broader trend of publicly traded firms turning to capital markets to fund crypto allocations. Over the past year, corporations have increasingly adopted Bitcoin strategies similar to Michael Saylor’s MicroStrategy, which now leads the corporate pack with nearly 639,000 Bitcoin.
Collectively, more than 190 listed companies hold Bitcoin, surpassing one million coins in combined reserves, which accounts for over 5% of the circulating supply.
Still on the Side of Caution
Despite the growing participation of institutions in the crypto market, market reaction i still on the side of caution. Next Technology’s stock slipped nearly 5% on Nasdaq during Monday’s session, and slid further in after-hours trading.
Still, the company has profited handsomely from its prior crypto bets. Since entering Bitcoin in late 2023, with purchases at an average cost of $31,386 per coin, Next Technology has seen a paper gain of more than 260%.
Unlike peers who have set bold long-term accumulation targets, Next Technology says it will take a measured approach, buying Bitcoin opportunistically as market conditions evolve.
The strategy keeps the company flexible while deepening its ties to a growing corporate trend: treating Bitcoin not just as an investment, but as part of a broader treasury strategy.
Disclaimer
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