Next Technology Holding has revealed ambitious plans to raise up to $500 million through a stock offering, aiming to further expand its Bitcoin treasury and strengthen its position among the world’s largest corporate BTC holders.
On September 15, the China-linked software company filed with the U.S. Securities and Exchange Commission (SEC) to sell new common stock. The company stated that part of the funds raised would be directed toward purchasing additional Bitcoin for its reserves.
Expanding its Bitcoin portfolio
Next Technology already holds one of the largest corporate Bitcoin treasuries globally, ranking 15th among top holders. The firm accumulated its BTC at an average cost of $31,386 per coin, with the stash now valued at about $676 million — a nearly 270% gain based on current market prices, according to Bitcoin Treasuries data.
Although the filing did not specify a fixed target, a successful $500 million raise could allow the company to significantly increase its Bitcoin portfolio and move higher in global corporate rankings.
The firm emphasized that it intends to continue buying Bitcoin opportunistically, while also keeping the flexibility to sell portions for tax management, corporate needs, or as collateral for financing.
Corporate Bitcoin adoption grows in China
Next Technology’s move reflects a broader trend of China-affiliated companies increasing their Bitcoin exposure, even as direct crypto trading remains banned in mainland China. Many firms have managed participation by using offshore entities and Hong Kong listings to legally accumulate BTC.
Currently, at least five Chinese-linked firms appear in the top 100 corporate Bitcoin holders, including:
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Cango, with roughly 5,400 BTC
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Nano Labs, holding about 1,000 BTC
Together with Next Technology, these firms contribute to a growing wave of corporate adoption, with public companies collectively holding around 1.01 million BTC worldwide.
Broader corporate Bitcoin race
Globally, major corporations continue to strengthen their Bitcoin strategies. Strategy (formerly MicroStrategy), the pioneer in corporate BTC accumulation, announced fresh purchases of about 6,528 BTC this month, raising its total to 639,000 BTC. Meanwhile, MARA Holdings confirmed control of 52,000 BTC, securing its spot as the second-largest corporate holder.
With Next Technology’s planned stock raise, the company signals its intent to join this high-stakes race, reinforcing Bitcoin’s role as a strategic treasury asset despite ongoing regulatory uncertainties.
