币股风向标丨Strategy暂缓增持BTC，董事会批准最高12.5亿美元BTC出售计划；Bitmine ETH持仓升至570万枚（6月30日）
- 核心观点：上周全球加密相关上市公司动态分化明显，BTC财库公司净买入骤降83%，而ETH财库公司Bitmine大幅增持；韩国政府推出800万亿韩元投资计划押注半导体，美光财报亮眼提振市场信心，罗素指数纳入多家加密概念股标志主流认可。
- 关键要素：
- 全球上市公司（不含矿企）单周BTC净买入仅1465万美元，环比减少83%，Strategy未购买且批准最高12.5亿美元比特币变现计划用于优化资本结构。
- 富达报告显示，持有至少1000枚BTC的上市公司数量从2024年底的22家增至49家，控制近5%的比特币供应。
- ETH财库公司Bitmine上周增持27084枚ETH，总持仓达570万枚，约占以太坊流通供应量的4.7%。
- SOL财库公司Upexi通过私募募资1950万美元，用于偿还债务并增持SOL资产；Solmate则因管理不善遭股东起诉，股价年内下跌约78%。
- 韩国政府推出800万亿韩元半导体投资计划，美光Q3营收414.6亿美元、毛利率84.9%，Q4营收预期超500亿美元，提振板块信心。
- 罗素指数新纳入Bitmine、Sharplink、Galaxy Digital等加密概念股，显示加密企业逐渐获得主流市场认可。
Editor's Note: In last week's "Crypto-Stock Barometer" article, we mentioned that "South Korean regulators are considering measures due to retail investor FOMO risk," but contrary to expectations, as the semiconductor sector faced a correction, the South Korean government chose to go ALL IN, unveiling an "800 trillion won investment plan." (Recommended reading: "This Afternoon, South Korea Goes All-In on the Next Decade's National Fortune") Therefore, despite a short-term correction in Korean stocks, the long-term upward trend remains the main theme.
Additionally, last Wednesday, Micron's earnings report was impressive, with a gross margin of 84.9% and revenue of $41.46 billion. It also forecasted Q4 revenue of $50 billion, significantly exceeding market expectations. A massive $100 billion in long-term agreement orders provided ample confidence for Micron and the broader US semiconductor sector. (Recommended reading:"Super Mega Boom: Micron's Earnings Rekindle the Long-Term Bull Run in Semiconductors")
Another noteworthy development is that the Russell Index added several crypto-related listed companies, including ETH treasury companies like Bitmine and Sharplink, as well as established asset managers like Galaxy. A year after the DAT model began, the few surviving crypto-concept stocks are gradually gaining recognition from the mainstream market. The next step is the gradual validation of business models and cash flow generation capabilities. (Recommended reading: "From SpaceX and Micron to Galaxy Digital: A Guide to the 37 AI Companies and 7 Crypto Dark Horses Newly Added to the Russell Indices")
Finally, the news of ChangXin Memory Technologies (CXMT)'s upcoming IPO and its recent $3 billion memory chip supply agreement with Tencent have refocused capital markets on the domestic memory battlefront. Coupled with Apple's previous attempts to lobby the US government to lift procurement restrictions on CXMT, CXMT's IPO next month could become another landmark listing worth participating in. The pre-market pricing is also likely to become a fiercely contested battleground among major platforms.
For more information on the crypto-stock market, please visit MSX.COM. (Odaily Note: The content of this article is for informational and educational purposes only and does not constitute investment advice.)
Weekly Updates on Listed Crypto-Stock Companies
Representative BTC Treasury Listed Companies
Strategy Holds Steady, Weekly Net Purchases by Bitcoin-Listed Companies Plunge 83%
According to SoSoValue data, as of 8:00 AM ET on June 29, 2026, the total weekly net purchases of Bitcoin by global listed companies (excluding mining companies) was $14.65 million, down 83% from the previous week.
Strategy (formerly MicroStrategy) did not purchase Bitcoin last week. Concurrently, Strategy announced two securities repurchase programs, each up to $1 billion, targeting Class A common stock and digital credit preferred shares (led by STRC with an annual dividend yield of 8% to 10%), aiming to optimize its capital structure without depleting its existing USD reserve. To fund these repurchases and support general corporate expenses, the board also approved a Bitcoin monetization plan, allowing the company to generate up to $1.25 billion in additional proceeds by selling Bitcoin to bolster its USD reserve. This reserve can be used to pay dividends and interest on outstanding preferred shares (or replenish the USD reserve after such payments) when management deems it more advantageous than issuing Class A common stock or other capital market transactions, and to directly fund the two aforementioned repurchase programs (including related taxes and transaction fees). While MicroStrategy has authorized this sale plan, it currently serves as a reserve shield for the repurchases and has not yet been executed. Its core logic has shifted from the initial phase of "aggressively expanding the balance sheet" to a more refined operational stage of "using crypto assets to optimize equity capital structure and reduce the cost of high-yield interest-bearing capital."
Japanese listed company Metaplanet did not purchase Bitcoin last week, marking 10 consecutive weeks without a purchase.
Additionally, two other companies bought Bitcoin last week. CIMG, a Hong Kong-based global technology group spanning digital health, consumer goods sales, and AI computing power, announced the completion of the first tranche of a large stock and warrant offering, receiving $13.5 million paid in Bitcoin (207.7 BTC at an average price of $65,000), bringing its total holdings to 937.7 BTC. Brazilian Bitcoin company OrangeBTC announced on June 29 that it invested $4.9 million to purchase 74 BTC at $66,233 each, bringing its total holdings to 3,896 BTC.
As of press time, the total Bitcoin held by the surveyed global listed companies (excluding mining companies) stands at 1,142,484 BTC, an increase of 0.02% from last week, with a current market value of approximately $68.52 billion, representing 5.7% of Bitcoin's circulating market cap.
Fidelity: Number of Public Companies Holding Over 1,000 BTC More Than Doubles Year-Over-Year
In a report, Fidelity Digital Assets noted that as of the end of 2025, the number of public companies holding at least 1,000 BTC increased to 49, up from 22 at the end of 2024. These companies now control nearly 5% of the Bitcoin supply.
Among them, Strategy holds approximately 847,000 BTC, Twenty One Capital holds about 43,500 BTC, Metaplanet holds around 40,000 BTC, and MARA Holdings holds about 36,000 BTC. As of early June 2026, between 170 and 199 public companies held approximately 1.265 million BTC, representing 6% of the total supply, valued at around $76 billion. In May 2026, public companies added a net of 43,557 BTC, with companies like SpaceX also appearing on the list of holders.
Strategy Board Approves Plan to Sell Up to $1.25 Billion in Bitcoin
Strategy introduced its "Digital Credit Capital Framework" on Monday, disclosing conditions under which it might sell Bitcoin in the future. The board approved a plan allowing Strategy to sell up to $1.25 billion in Bitcoin to replenish cash reserves, make payments for products like Stretch (STRC), or repurchase common stock and other securities when appropriate.
Strategy co-founder and Executive Chairman Michael Saylor stated that the company still holds Bitcoin as its primary treasury reserve asset, but the Digital Credit framework requires liquidity, discipline, and active capital management. Saylor said the framework aims to enhance credit quality and reduce expected preferred dividend payments when accretive.
Strategy did not announce new Bitcoin purchase plans this time and stated its USD Reserve had been restored to $2.25 billion. The company claims that at current levels, its cash reserves can cover approximately one and a half years of dividend payments.
Representative ETH Treasury Listed Companies
Bitmine Adds 27,084 ETH Last Week, Holdings Rise to 5.7 Million
Bitmine Immersion Technologies purchased 27,084 ETH last week for approximately $43 million, increasing its holdings to 5.7 million ETH, representing about 4.7% of Ethereum's circulating supply.
The company currently controls approximately $9.8 billion in crypto assets, cash, and investments, and is nearing its goal of holding 5% of all ETH, though the pace of recent purchases has slowed. Chairman Tom Lee attributed recent crypto price weakness to quarter-end "window dressing."
Sharplink Purchases 39,196 ETH Last Week, Valued at Approximately $62.43 Million
Last week, SharpLink Gaming purchased a total of 39,196 ETH, valued at approximately $62.43 million. The company holds over 202,000 ETH.
FG Nexus Loss Exceeds $86.8 Million, Sells Another 3,375 ETH
ETH treasury company FG Nexus has sold another 3,375 ETH, valued at $5.34 million, bringing its total realized loss to over $86.8 million. FG Nexus had previously purchased 50,770 ETH for $196 million. It has now sold 41,675 ETH for $94.51 million.
Representative SOL Treasury Listed Companies
Nasdaq-listed Solana treasury company Upexi announced it has signed a securities purchase agreement to sell approximately 12.2423 million shares of common stock (or equivalent pre-funded warrants) in a private placement at an offering price of approximately $1.60 per share, raising total gross proceeds of $19.5 million. The new funds will be used to repay existing debt and continue accumulating SOL as a strategic reserve asset.
Largest External Shareholder of Solana Treasury Company Solmate Sues Board of Directors
RBCH, the largest external shareholder of Solana digital asset treasury company Solmate Infrastructure (SLMT), has sued the company's current executives and directors in the New York State Supreme Court, alleging breaches of fiduciary duty, misleading statements, and self-dealing.
RBCH is associated with RockawayX founder and CEO Viktor Fischer and currently holds approximately 22.74% of Brera Holdings, Solmate's parent company. In September 2025, it led Solmate's $300 million PIPE financing and committed $50 million.
The lawsuit alleges that Solmate's board engaged in several actions detrimental to shareholders, including selling stock while other investors were still in a lock-up period, signing advisory agreements favoring board-related parties, and directors Ron Sade and Keren Maimon personally purchasing approximately 2.298 million Class B shares at $4.97 per share, resulting in approximately 20% dilution for shareholders. The plaintiff claims the transaction was unlawful.
Fischer stated that Solmate has significantly underperformed, trading at approximately a 50% discount to its net asset value, attributing the problems to poor management and board self-dealing. Solmate holds approximately 2 million SOL on its books. Its stock price has fallen approximately 78% year-to-date, making it one of the worst-performing SOL DATs. In comparison, SOL has fallen approximately 50% over the same period.
Representative Altcoin Treasury Listed Companies
Zcash Miner Plans Merger with HeartSciences, Latter's Stock Surges Over 55%
Fortitude Mining, a Zcash miner under Digital Currency Group, announced it has signed a definitive merger agreement with HeartSciences Inc., a Nasdaq-listed small-cap medical technology company, planning to combine the two firms. Following the news, HeartSciences' stock rose as much as 60% during Tuesday's trading session, closing up approximately 55% at $2.70.
Fortitude primarily operates Zcash mining operations. Despite ZEC's recent poor performance, DCG founder and CEO Barry Silbert stated that Zcash represents one of the most attractive opportunities in the digital asset space.
Fortitude CEO Andrea Childs stated the merger was not based on business synergies but rather to access public capital markets, thereby gaining more flexible financing channels to accelerate its core strategy, including its "venture mining" platform primarily focused on Zcash, and to continue exploring high-return opportunities within its power asset portfolio.
The parties expect the transaction to close in the second half of this year. The deal also indicates that some crypto mining companies are attempting to access capital markets by merging with listed companies to support subsequent expansion.
YZi Labs Management, the management entity of YZi Labs, announced it has reached an agreement with Nasdaq-listed CEA Industries (BNC) to facilitate further optimization surrounding digital asset strategy and corporate management. BNC and YZi Labs will jointly seek an independent director with experience in digital assets, capital markets, and listed company governance to further refine the board structure. Current CEO David Namdar will continue his duties during the transition period. YZi Labs has agreed to terminate the previously initiated stockholder consent solicitation and withdraw related requests for books and records inspection and stockholder list date demands. This agreement marks the end of potential governance differences, shifting the focus towards promoting company development through board restructuring and management optimization.
Nasdaq-listed SUI Group Holdings Limited announced the expansion of its strategic lending partnership with Bluefin, a decentralized exchange on the Sui ecosystem. Under the amended Digital Currency Loan Agreement, SUI Group will lend an additional 4 million SUI to Bluefin, increasing the total loan size to 6 million SUI. Concurrently, the company has raised its revenue share percentage from the original 5% to 11%, payable in SUI. The additional funds are intended to support Bluefin's participation in the financing transaction for Bluewater's acquisition of Suilend, the largest lending and DeFi platform on the Sui chain.
