Corporate Bitcoin Holdings: Net Purchases Drop 83% Despite Steady Total Holdings
According to SoSoValue data as of 8:00 AM ET on June 29, 2026, global publicly traded companies (excluding mining firms) added a net of only $14.65 million in Bitcoin over the past week—an 83% drop from the previous week. Strategy (formerly MicroStrategy) did not purchase any Bitcoin for the second consecutive week, and Metaplanet has now gone 10 weeks without buying. Only two companies reported new acquisitions: Hong Kong-based CIMG received $13.5 million in Bitcoin (207.7 BTC at an average price of $65,000) as part of a stock and warrant issuance, bringing its total to 937.7 BTC; Brazil’s OrangeBTC spent $4.9 million to buy 74 BTC at $66,233 each, increasing its holdings to 3,896 BTC. As of press time, all tracked corporates collectively hold 1,142,484 BTC, up a marginal 0.02% from the prior week, with a current market value of approximately $68.52 billion—representing 5.7% of Bitcoin’s circulating supply.
Strategy’s Capital Pivot: Buyback Programs and $1.25B BTC Sale Authorization
While refraining from new BTC purchases, Strategy unveiled a “Digital Credit Capital Framework” and announced two securities repurchase programs of up to $1 billion each, targeting Class A common stock and its 8%–10% digital credit preferred shares (STRC). To fund the buybacks and support ongoing expenses, the board approved a plan to sell up to $1.25 billion in Bitcoin, allowing the company to generate additional USD reserves for paying preferred dividends or directly funding the repurchase programs when deemed more favorable than issuing common stock or other capital market transactions. Executive Chairman Michael Saylor emphasized that Bitcoin remains the company’s primary treasury reserve asset, but that the Digital Credit framework requires liquidity, discipline, and proactive capital management. The move is designed to strengthen credit quality and reduce expected preferred dividend payments. Strategy’s USD Reserve has recovered to $2.25 billion, covering roughly 1.5 years of dividend payments at current levels. This marks a shift from aggressive balance-sheet expansion to a more refined operation using crypto assets to optimize equity capital structure.
Ethereum Treasury Dynamics: Bitmine Hits 5.7M ETH, FG Nexus Continues Loss Realization
Bitmine Immersion Technologies, the largest corporate holder of ETH, purchased 27,084 ETH for approximately $43 million last week, lifting its total holdings to 5.7 million ETH—about 4.7% of Ethereum’s circulating supply. The company now controls roughly $9.8 billion in crypto assets, cash, and investments, nearing its 5% supply target, though the pace of purchases has slowed recently. Chairman Tom Lee attributed recent crypto price weakness to quarter-end “window dressing.”
Meanwhile, ETH treasury firm FG Nexus sold another 3,375 ETH (worth $5.34 million), bringing its cumulative loss to over $86.8 million. The company originally bought 50,770 ETH for $196 million, and has now sold 41,675 ETH, recouping only $94.51 million.
Separately, SharpLink Gaming purchased 39,196 ETH last week (approximately $62.43 million), lifting its total above 202,000 ETH.
Solana Ecosystem: Upexi Raises Funds to Buy More SOL, Solmate Faces Lawsuit
Nasdaq-listed Solana treasury company Upexi entered a securities purchase agreement to sell approximately 12.24 million shares of common stock (or equivalent pre-funded warrants) at ~$1.60 per share, raising $19.5 million. Proceeds will be used to repay existing debt and continue accumulating SOL as a strategic reserve. In contrast, Solmate Infrastructure (SLMT), another Solana digital asset treasury company, is grappling with a shareholder lawsuit. RBCH, the largest external shareholder (affiliated with RockawayX founder Viktor Fischer), filed suit in New York State Supreme Court against the company’s directors and officers, alleging breach of fiduciary duty, misleading statements, and self-dealing. The complaint claims the board sold shares while other investors were in lock-up, signed advisor agreements favoring related parties, and that directors Ron Sade and Keren Maimon purchased about 2.298 million Class B shares at $4.97 each, diluting other shareholders by ~20%. Fischer noted that Solmate trades at a ~50% discount to net asset value and its stock has fallen ~78% year-to-date (compared to SOL’s ~50% decline), attributing the underperformance to poor management and board self-dealing.
Mining & Corporate Governance: Zcash Miner Merges with HeartSciences, YZi Labs Resolves Governance Dispute
Fortitude Mining, a Zcash miner owned by Digital Currency Group, announced a definitive merger agreement with Nasdaq-listed medtech company HeartSciences Inc. Following the news, HeartSciences shares surged ~55% on Tuesday to close at $2.70. Fortitude CEO Andrea Childs stated the merger is not about business synergies but rather gaining access to public capital markets for more flexible financing, which will accelerate the company’s core “venture mining” platform focused on Zcash and expand its power asset portfolio. The transaction is expected to close in the second half of 2026, reflecting a trend of crypto miners using mergers with listed companies to enter public markets.
Separately, YZi Labs Management reached an agreement with Nasdaq-listed CEA Industries (BNC) to end a governance dispute. The parties will jointly search for an independent director with expertise in digital assets, capital markets, and public company governance. David Namdar will continue as CEO during the transition. YZi Labs has terminated its shareholder consent solicitation and withdrawn related requests, signaling a move toward board restructuring and management optimization.
DeFi Lending Partnership: SUI Group Expands Loan to Bluefin for Suilend Acquisition
Nasdaq-listed SUI Group Holdings Limited expanded its strategic lending partnership with Bluefin, a decentralized exchange on the Sui blockchain. Under an amended digital currency loan agreement, SUI Group will lend an additional 4 million SUI to Bluefin, bringing total loans to 6 million SUI. The revenue-sharing percentage has been increased from 5% to 11%, payable in SUI. The new funds will support Bluefin’s participation in the financing transaction for Bluewater’s acquisition of Suilend, the largest lending and DeFi platform on Sui. This deal illustrates how public companies are deepening engagement with Layer-1 DeFi ecosystems through lending mechanisms.
