Next Technology Holding, China’s largest corporate holder of Bitcoin, has announced plans to raise up to $500 million through a common stock offering, with a portion of the proceeds earmarked for additional Bitcoin purchases.
In a filing submitted to the U.S. Securities and Exchange Commission on Monday, the software company stated:
“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.”
Next Technology currently holds 5,833 BTC valued at approximately $671.8 million, according to data from BitcoinTreasuries.NET. That makes it the 15th-largest Bitcoin-holding company globally, ahead of firms like KindlyMD, Semler Scientific, and GameStop.
If Next Technology Holding allocates even half of its planned $500 million stock offering to Bitcoin, the Nasdaq-listed firm could acquire an additional 2,170 BTC at current prices — pushing its total holdings above 8,000 Bitcoin.
This move would further solidify Next Technology’s position in the growing trend of corporate Bitcoin accumulation, where public companies increasingly tap equity markets, convertible debt, preferred stock, and SPACs to fund crypto purchases.
The number of publicly traded companies holding Bitcoin has nearly doubled in 2025, rising from under 100 at the start of the year to 190 today. Collectively, these firms now hold more than 1 million BTC, representing over 5% of Bitcoin’s total circulating supply.
MicroStrategy, led by Michael Saylor, remains the largest corporate holder by a wide margin, with nearly 639,000 BTC on its balance sheet.
Stock Drops on Funding News
Despite the bullish signal for Bitcoin, investors reacted negatively to the potential dilution. Next Technology (NXTT) shares dropped 4.76% to $0.14 during Monday’s trading session, followed by another 7.43% decline in after-hours, according to Google Finance.
Despite Monday’s stock dip, Next Technology Holding has seen a substantial paper profit on its Bitcoin investments. The company acquired its first 833 BTC in late December 2023, followed by a major purchase of 5,000 BTC on March 28. With an average purchase price of $31,386, its holdings have appreciated by roughly 266.7% at current market prices.
The AI-focused software firm, which primarily operates in the U.S., Hong Kong, and Singapore, now holds 5,833 BTC worth over $670 million.
No Hard Cap on Bitcoin Holdings
Unlike other corporate Bitcoin adopters, Next Technology is not committing to a fixed long-term target. In its recent SEC filing, the company said it would “monitor market conditions” and evaluate purchases on a month-by-month basis.
This flexible strategy stands in contrast to firms like Metaplanet and Semler Scientific, which have publicly declared plans to acquire 210,000 BTC and 105,000 BTC, respectively—equivalent to 1% and 0.5% of Bitcoin’s total supply—by the end of 2027.
