Market Background: South Korea Goes All-In on Semiconductors, Micron Earnings Shine
Last week, South Korea surprised markets by announcing an 800 trillion won investment plan, going all-in on semiconductors despite short-term corrections. Micron posted stellar earnings with 84.9% gross margin and $41.46B revenue, guiding Q4 revenue to $50B. ChangXin Memory Technologies (CXMT) is preparing for IPO and signed a $3B supply agreement with Tencent, while Apple lobbies US government to lift procurement restrictions.
Listed Company BTC Holdings: Strategy Idles, Net Purchases Plunge 83%
According to SoSoValue, global listed companies (excluding miners) added only $14.65M in BTC net last week, down 83% WoW. Strategy (formerly MicroStrategy) made no purchases, announced two $1B stock buyback programs (Class A common and STRC preferred stock), and authorized selling up to $1.25B in BTC to boost USD reserves, pay dividends, and fund buybacks. The company's focus has shifted from aggressive expansion to capital structure optimization. Japan's Metaplanet remained inactive for 10 weeks. Hong Kong's CIMG received $13.5M in BTC (207.7 BTC) as part of a stock/warrant issuance, now holding 937.7 BTC. Brazil's OrangeBTC bought 74 BTC for $4.9M, now holding 3,896 BTC. Total holdings across listed companies reached 1,142,484 BTC ($68.52B, 5.7% of circulating supply).
Fidelity Report: Number of Listed Firms Holding 1000+ BTC Doubles
Fidelity Digital Assets reported that the number of listed companies holding at least 1,000 BTC rose from 22 at end-2024 to 49 by end-2025, controlling nearly 5% of BTC supply. Top holders: Strategy (~847,000 BTC), Twenty One Capital (~43,500 BTC), Metaplanet (~40,000 BTC), MARA Holdings (~36,000 BTC). As of early June 2026, 170-199 companies held ~1.265M BTC (6% of supply, worth ~$76B). Net purchases in May totaled 43,557 BTC, with SpaceX appearing on the list.
Strategy Approves $1.25B BTC Sale Plan
Strategy launched the 'Digital Credit Capital Framework,' permitting sale of up to $1.25B in BTC under specific conditions to replenish cash reserves, pay Stretch (STRC) obligations, or repurchase shares. Michael Saylor emphasized BTC remains the primary treasury asset, and the framework aims to enhance credit quality. USD Reserve now stands at $2.25B, covering about 1.5 years of dividend payments.
ETH & SOL Moves: Bitmine Adds ETH, SharpLink Buys 39K ETH
Bitmine Immersion Technologies purchased 27,084 ETH for ~$43M, boosting holdings to 5.7M ETH (4.7% of circulating supply), nearing its 5% target but slowing pace. Chairman Tom Lee attributed recent price weakness to quarter-end window dressing. SharpLink Gaming bought 39,196 ETH (~$62.43M), now holding over 202,000 ETH. FG Nexus sold another 3,375 ETH ($5.34M), with cumulative losses exceeding $86.8M. Upexi raised $19.5M via private placement to repay debt and continue accumulating SOL.
Solmate Shareholder Sues Board; Zcash Miner Merges to Go Public
Solmate Infrastructure's largest external shareholder RBCH sued the company's directors for breach of fiduciary duty and self-dealing, citing a ~50% discount to NAV and 78% YTD stock decline. Solmate holds ~2M SOL. Meanwhile, DCG's Zcash miner Fortitude Mining signed a definitive merger agreement with HeartSciences, causing HeartSciences shares to surge over 55%. The deal aims to provide public market access. YZi Labs reached an agreement with CEA Industries to resolve governance disputes and restructure the board. SUI Group expanded its lending to Bluefin by an additional 4M SUI (total 6M SUI), supporting DeFi ecosystem growth.
