Public companies holding bitcoin on their balance sheets recorded a net weekly sale of $15.92 million last week, according to SoSoValue data as of 8 a.m. Eastern Time on July 27, 2026. The figure covers listed companies excluding mining firms.
Odaily said in its latest market roundup that South Korea’s stock market saw its eighth market-wide trading halt of the year over the past week. In the U.S., memory-related stocks posted a modest rebound, but the broader downtrend remained in place. In mainland China, ChangXin’s IPO reached the STAR Market, though the broader A-share market still posted a mild pullback and memory names did not break away from the wider move. The report also noted that the U.S. stock market is entering a heavy earnings week. Tesla and Google both fell sharply after releasing results, and Odaily said investors should watch for spillover risk tied to related headlines.
On the data side, U.S. brokerage account net credit balances fell by about $70 billion in June to negative $1.061 trillion, a record low. Over the same period, margin debt rose by about $86 billion to $1.53 trillion, marking a third straight monthly increase and a fresh high.
BTC treasury allocations kept cooling off
Among representative public bitcoin treasury companies, Strategy did not buy bitcoin last week. Company filings show that between July 20 and July 26, Strategy sold about 5.43 million shares of MSTR and generated net proceeds of $544.5 million. It also spent $25 million to repurchase 288,930 shares of STRC preferred stock.
Japan-listed Metaplanet also made no bitcoin purchases last week.
Three other companies disclosed bitcoin transactions during the period:
- KULR said on July 24 that it generated about $21.5 million from July 9 to July 23 and sold 333 BTC at $64,538 per coin, reducing total holdings to about 760 BTC.
- Asset manager Strive said on July 27 that it spent $5.19 million to buy 79 BTC at $65,723, bringing its total holdings to about 20,000 BTC.
- Brazilian bitcoin company OrangeBTC said on July 27 that it spent $394,500 to buy 6 BTC at $65,742, lifting total holdings to 3,918 BTC.
Bitcoin Japan, a Metaplanet subsidiary, also announced a convertible bond financing agreement with EVO Fund. The company plans to raise 9.66 billion yen, or about $59.5 million, to build a crypto asset treasury.
As of publication, listed companies tracked in the dataset, excluding miners, held a combined 1,139,480 BTC, down 0.02% from the previous week. Those holdings were valued at about $74.16 billion and accounted for 5.7% of bitcoin’s circulating market capitalization.
Metaplanet moves into securities infrastructure
Metaplanet has acquired Siiibo Securities, which holds a Type I Financial Instruments Business license and is authorized to design and sell securities in Japan. Research firm Benchmark said the market has largely viewed the acquisition, worth about 2.1 billion yen or roughly $13 million, as a small expansion. Odaily reported that Metaplanet’s actual plan is to use the platform to issue bitcoin-backed bonds called Bitbonds with annual yields of about 4% to 6%, then migrate the product on-chain and settle through stablecoins to gradually form a secondary market.
KULR sold BTC and repaid its Coinbase credit line
BitcoinTreasuries.NET said KULR Technology sold 333 BTC and used the proceeds to fully repay its $20 million Coinbase credit facility. The company currently holds 760 BTC.
Several bitcoin treasury firms are changing course
Odaily said a number of listed companies that had accumulated BTC aggressively are now facing lower share prices, debt pressure and a weaker funding environment as bitcoin has pulled back sharply. Some have started selling bitcoin and repaying debt, while others are shifting toward AI data center operations.
The report said Strategy was the first to push the Digital Asset Treasury, or DAT, model, using financing and borrowing to keep buying bitcoin and drawing a group of public companies into the same approach. But after BTC fell about 50% from its roughly $126,000 peak in October 2025, share prices tied to that model also dropped sharply, pushing some firms to reassess the strategy.
This week, shareholders of London-listed Satsuma Technology approved the liquidation of its entire 668 BTC position, a return of capital, and the company’s delisting process. Another London-listed company, The Smarter Web Company, sold 178 BTC to repay convertible debt.
Sequans Communications has sold 1,025 BTC and also sold nearly 80% of its remaining holdings to repay convertible notes. The company said it will not continue buying bitcoin and plans to sell its remaining roughly 658 BTC.
Nakamoto has fallen about 99% since its SPAC listing in May 2025. The company recently sold about 284 BTC to raise about $20 million for working capital. Of its remaining roughly 5,342 BTC, nearly 70% has been pledged against a Kraken loan.
Mining firms are also adjusting. Bitdeer Technologies and MARA Holdings are among the companies selling part of their BTC to repurchase shares, repay debt, and redirect energy resources and compute infrastructure toward AI data center business lines.
Other firms that have sold BTC include Empery Digital. The report added that Strategy has recently sold about 3,620 BTC and has authorized further asset sales to maintain U.S. dollar reserves.
Even so, Strategy remains the largest public corporate holder of bitcoin globally, with more than 840,000 BTC. CEO Michael Saylor said the company may sell some bitcoin in the future to pay dividends, but that does not mean it is exiting bitcoin investment. Beyond portfolio adjustments, management and capital market moves are also changing across the sector. Jack Mallers has stepped down as CEO, and Bitcoin Standard Treasury Company, or BSTR, backed by Adam Back, failed to complete a proposed merger because of worsening market conditions.
The report said rising funding costs and heavier BTC price swings are reshaping the debt-funded bitcoin treasury model, with some companies moving away from pure accumulation and toward AI infrastructure and business lines with stronger cash-flow potential.
VanEck’s Matthew Sigel lists firms that exited or adjusted BTC reserves
Matthew Sigel, head of digital assets research at VanEck, said since the start of 2026 a number of public companies using the DAT strategy have abandoned or adjusted their bitcoin reserve approach. He named Satsuma Technology, Bitdeer, Prenetics, Genius Group, Vaultz Capital and MAIA Biotechnology as companies that sold all of their bitcoin or digital asset holdings. MARA Holdings, Strategy, Nakamoto, Smarter Web Company and Cango, he said, sold part of their BTC to repay debt, buy back shares or support working capital. Exodus and DigitalX also shifted from simple accumulation to active digital asset management.
Empery Digital invested in AI data center developer CDP
Nasdaq-listed bitcoin treasury company Empery Digital said it completed a $20 million strategic investment in preferred shares of AI data center developer Cardinal Data Power, or CDP. After the deal, Empery Digital holds about 8% of CDP. The investment forms an important part of CDP’s $70 million Series A financing, and the proceeds will be used entirely for the company’s first AI data center campus in West Texas.
ETH treasury firms: Bitmine added 9,946 ETH in a week
On the ETH side, Bitmine Immersion Technologies added 9,946 ETH over the past week and repurchased 6.1 million common shares. As of July 27, Beijing time, its total ETH holdings rose to 5.7874 million ETH, equal to about 4.8% of Ethereum’s total supply.
SOL treasury firms saw only one buyer in the past 30 days
According to CoinGecko data, among public companies holding SOL as a treasury asset, only Forward Industries added to its position over the past 30 days. The company bought 500,000 SOL on June 30, bringing aggregate holdings to 7.55 million SOL, valued at nearly $554 million.
No representative update was listed for other altcoin treasury companies
For listed companies with altcoin treasury strategies beyond BTC, ETH and SOL, the report listed no representative developments.