China’s Next Technology holdings plans major Bitcoin buy with $500M stock sale filing
China’s largest Bitcoin treasury company, Next Technology Holdings, has filed to sell up to $500 million of its common stock to add more BTC to its coffers.
In a filing with the US Securities and Exchange Commission dated September 15, the company said it wants to use a portion of the proceeds towards the acquisition of Bitcoin.
However, it did not disclose a fixed timeline for the offering or the total amount it would allocate for its Bitcoin purchases, and said it would “monitor market conditions” before executing purchases.
Still, based on current prices, allocating even half of that raise could bring in over 2,100 BTC, potentially pushing its total holdings past the 8,000 mark.
Next Technology began its Bitcoin accumulation journey relatively late compared to the early movers, but has quickly climbed the ranks.
Back in December of 2023, the company picked up its first batch of 833 BTC, and after making no moves for almost a year, it stunned the market with a massive 5,000 Bitcoin purchase in March of 2025, which was funded through a combination of cash, stock issuance, and warrants.
By June 30, 2025, the company was holding 5,833 Bitcoin, which was valued at over $670 million at the time.
The firm’s move into Bitcoin was well-timed, as in the first half of 2025, Bitcoin’s price surged by over 15%, which in turn significantly boosted the company’s unrealised gains.
Next Technology reported a 266.7% paper profit on its Bitcoin purchases during that period, driven largely by its aggressive entry point at an average cost of just $31,386 per coin.
In its H1 earnings released in August, CEO Weihong Liu was seen praising the performance of both its AI software division and its digital asset strategy, noting that the firm’s diversified business model had started to deliver “significant value creation for shareholders.”
However, the market’s reaction to the latest capital raise has not been so euphoric. Shares of Next Technology (NXTT) dropped by nearly 5% during regular trading on Monday, and another 7.4% in after-hours once the news broke.
No cap on Bitcoin purchases
Next Technology, unlike many other Bitcoin treasury firms, has not placed a hard cap on how much Bitcoin it ultimately wants to own.
Instead, the company said it will continue buying based on market conditions and its available liquidity.
It also hasn’t ruled out using its BTC holdings for strategic purposes, potentially pledging them for financing or leveraging them to generate yield through staking or lending, depending on the market climate.
In terms of business vision, Next Technology continues to frame its dual-engine model that combines AI-driven SaaS development with Bitcoin as a treasury reserve asset as its competitive edge.
The company operates primarily in the US, Hong Kong, and Singapore, and has said it will continue to grow across both business lines while viewing Bitcoin as a core pillar of long-term value preservation.
Chinese firms are turning to Bitcoin
Next isn’t the only publicly listed Chinese-origin company that has decided to hold Bitcoin or other cryptocurrencies as a means to enhance shareholder value.
Cango Inc., which was once a car financing firm, recently completed its pivot into a full-fledged Bitcoin mining company and now boasts over 4,000 BTC and a mining capacity of 50 EH/s, placing it among the top mining operators globally.
Meanwhile, fashion e-commerce platform MOGU made headlines earlier this month after announcing it would allocate up to $20 million into cryptocurrencies, including Bitcoin, Ethereum, and Solana.
The news sent its shares soaring by over 80% as investors reacted positively to the diversification move.
Other Chinese firms like Aurora Mobile and DayDayCook Enterprise have also explored similar strategies in the past months.
The post China’s Next Technology holdings plans major Bitcoin buy with $500M stock sale filing appeared first on Invezz
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China’s Next Technology holdings plans major Bitcoin buy with $500M stock sale filing
China’s largest Bitcoin treasury company, Next Technology Holdings, has filed to sell up to $500 million of its common stock to add more BTC to its coffers.
In a filing with the US Securities and Exchange Commission dated September 15, the company said it wants to use a portion of the proceeds towards the acquisition of Bitcoin.
However, it did not disclose a fixed timeline for the offering or the total amount it would allocate for its Bitcoin purchases, and said it would “monitor market conditions” before executing purchases.
Still, based on current prices, allocating even half of that raise could bring in over 2,100 BTC, potentially pushing its total holdings past the 8,000 mark.
Next Technology began its Bitcoin accumulation journey relatively late compared to the early movers, but has quickly climbed the ranks.
Back in December of 2023, the company picked up its first batch of 833 BTC, and after making no moves for almost a year, it stunned the market with a massive 5,000 Bitcoin purchase in March of 2025, which was funded through a combination of cash, stock issuance, and warrants.
By June 30, 2025, the company was holding 5,833 Bitcoin, which was valued at over $670 million at the time.
The firm’s move into Bitcoin was well-timed, as in the first half of 2025, Bitcoin’s price surged by over 15%, which in turn significantly boosted the company’s unrealised gains.
Next Technology reported a 266.7% paper profit on its Bitcoin purchases during that period, driven largely by its aggressive entry point at an average cost of just $31,386 per coin.
In its H1 earnings released in August, CEO Weihong Liu was seen praising the performance of both its AI software division and its digital asset strategy, noting that the firm’s diversified business model had started to deliver “significant value creation for shareholders.”
However, the market’s reaction to the latest capital raise has not been so euphoric. Shares of Next Technology (NXTT) dropped by nearly 5% during regular trading on Monday, and another 7.4% in after-hours once the news broke.
No cap on Bitcoin purchases
Next Technology, unlike many other Bitcoin treasury firms, has not placed a hard cap on how much Bitcoin it ultimately wants to own.
Instead, the company said it will continue buying based on market conditions and its available liquidity.
It also hasn’t ruled out using its BTC holdings for strategic purposes, potentially pledging them for financing or leveraging them to generate yield through staking or lending, depending on the market climate.
In terms of business vision, Next Technology continues to frame its dual-engine model that combines AI-driven SaaS development with Bitcoin as a treasury reserve asset as its competitive edge.
The company operates primarily in the US, Hong Kong, and Singapore, and has said it will continue to grow across both business lines while viewing Bitcoin as a core pillar of long-term value preservation.
Chinese firms are turning to Bitcoin
Next isn’t the only publicly listed Chinese-origin company that has decided to hold Bitcoin or other cryptocurrencies as a means to enhance shareholder value.
Cango Inc., which was once a car financing firm, recently completed its pivot into a full-fledged Bitcoin mining company and now boasts over 4,000 BTC and a mining capacity of 50 EH/s, placing it among the top mining operators globally.
Meanwhile, fashion e-commerce platform MOGU made headlines earlier this month after announcing it would allocate up to $20 million into cryptocurrencies, including Bitcoin, Ethereum, and Solana.
The news sent its shares soaring by over 80% as investors reacted positively to the diversification move.
Other Chinese firms like Aurora Mobile and DayDayCook Enterprise have also explored similar strategies in the past months.
The post China’s Next Technology holdings plans major Bitcoin buy with $500M stock sale filing appeared first on Invezz
Read More
Nvidia CEO Jensen Huang disappointed at China ban, acknowledges geopolitcal pressures