Next Technology to raise $500M via stock sale for Bitcoin

Published: 2025-09-16 04:28:10 |

Next Technology Holding, China’s largest corporate Bitcoin treasury firm, has filed with the US SEC to sell up to $500 million of common stock. It plans to use net proceeds for general corporate purposes, including the acquisition of Bitcoin. The Nasdaq-listed company currently holds 5,833 BTC valued at $671.8 million, ranking it the 15th largest Bitcoin treasury. Allocating half of the proposed $500 million from this stock sale to Bitcoin could add roughly 2,170 BTC, lifting its holdings above 8,000 BTC. Shares of Next Technology (ticker NXTT) fell 4.76% on the announcement and a further 7.43% in after-hours trading amid dilution concerns. Since its first purchase of 833 BTC in December 2023 and a 5,000 BTC buy in March, the company has acquired Bitcoin at an average cost of $31,386 per coin, yielding a paper gain of 266.7%. Next Technology says it has no fixed Bitcoin target and will “monitor market conditions” before further purchases. This flexible approach contrasts with peers like Metaplanet and Semler Scientific, which aim to amass 210,000 BTC and 105,000 BTC respectively by 2027. The filing underlines a wider corporate Bitcoin treasury trend. There are now 190 publicly listed companies holding Bitcoin—up from under 100 at the start of the year—and their combined holdings have exceeded 1 million BTC, over 5% of circulating supply. MicroStrategy still leads with nearly 639,000 BTC on its balance sheet.

Bullish

Next Technology’s planned stock sale to fund additional Bitcoin purchases underscores growing institutional demand for Bitcoin treasury allocations. Similar equity raises at Marathon Digital and Riot Platforms preceded significant Bitcoin accumulation and supported upward price momentum. Although dilution concerns drove NXTT share prices down in the short term, the long-term effect is bullish for Bitcoin as it adds sustained buying pressure. Traders can expect volatility around the offering date but view the continued corporate treasury adoption trend as a positive signal for market stability and future price gains.