China’s Biggest Bitcoin Treasury Firm Plans $500M Stock Sale To Buy More Crypto

China’s Largest Bitcoin Treasury Firm Plans $500M Stock Offering to Boost Crypto Holdings

Next Technology Holding (NASDAQ: NXTT), recognized as China’s biggest corporate holder of Bitcoin, has filed for a $500 million shelf registration with the U.S. SEC. The firm may use a portion of the proceeds to expand its Bitcoin reserves, signaling a renewed push into crypto investment.

Strategic Plans and Bitcoin Holdings

Next Technology Holding confirmed in recent regulatory filings that it has officially filed for a shelf registration allowing the sale of up to $500 million in common stock. While the move does not entail an immediate issuance, it provides the company with flexibility to raise capital as needed.

The company currently holds approximately 5,833 BTC, with a book value of roughly $480 million as of its March 2025 10-Q filing. Though the exact use of funds from potential share sales has not been finalized, reports suggest some proceeds may be directed toward additional Bitcoin purchases, broadening the firm’s crypto treasury strategy.

Market Reactions to Previous Bitcoin Moves

NXTT’s stock has previously shown high sensitivity to the company’s crypto-related actions. Earlier this year, its announcement of a 5,000 BTC acquisition triggered sharp movements in share price, reflecting investor sentiment tied directly to digital asset exposure.

Investors remain divided. Some see the proposed stock offering as a vehicle to accelerate the company’s Bitcoin accumulation strategy. Others express caution, warning of potential shareholder dilution if a sizable equity sale is executed.

Regulatory Filing and Capital Structure

The company’s $500 million registration takes the form of a standard S-3 shelf filing with the Securities and Exchange Commission. Such filings allow companies to register securities in advance and issue them in flexible tranches over time, streamlining the process and enhancing market responsiveness.

Potential Impact on Bitcoin Market

Should NXTT proceed with stock sales and use the funds to acquire additional BTC, its moves could increase short-term demand in the Bitcoin spot market. However, given global trading volumes, the impact would depend on the size and timing of any future purchases.

Currently holding 5,833 BTC, the firm’s potential additional buys — though significant at a corporate level — would still represent a small share of the daily market. Analysts note that market effects will hinge on broader behavior among institutional players and whether NXTT acts independently or sets off a trend.

Risks remain. These include dilution for shareholders, price volatility in NXTT’s stock, and ongoing technical and regulatory challenges related to custody and accounting of large-scale Bitcoin assets. Market participants will carefully evaluate how the company balances those risks against expected returns from further crypto exposure.