币股風向標丨Strategy暫緩增持BTC，董事會批准最高12.5億美元BTC出售計畫；Bitmine ETH持倉升至570萬枚（6月30日）
- 核心觀點：上週全球加密相關上市公司動態分化明顯，BTC財庫公司淨買入驟降83%，而ETH財庫公司Bitmine大幅增持；韓國政府推出800兆韓元投資計畫押注半導體，美光財報亮眼提振市場信心，羅素指數納入多家加密概念股標誌主流認可。
- 關鍵要素：
- 全球上市公司（不含礦企）單週BTC淨買入僅1465萬美元，環比減少83%，Strategy未購買且批准最高12.5億美元比特幣變現計畫用於優化資本結構。
- 富達報告顯示，持有至少1000枚BTC的上市公司數量從2024年底的22家增至49家，控制近5%的比特幣供應。
- ETH財庫公司Bitmine上週增持27084枚ETH，總持倉達570萬枚，約佔以太坊流通供應量的4.7%。
- SOL財庫公司Upexi通過私募募資1950萬美元，用於償還債務並增持SOL資產；Solmate則因管理不善遭股東起訴，股價年內下跌約78%。
- 韓國政府推出800兆韓元半導體投資計畫，美光Q3營收414.6億美元、毛利率84.9%，Q4營收預期超500億美元，提振板塊信心。
- 羅素指數新納入Bitmine、Sharplink、Galaxy Digital等加密概念股，顯示加密企業逐漸獲得主流市場認可。
Editor's Note: In last week's "Crypto-Stock Barometer" article, we mentioned that "South Korean regulators are considering measures due to concerns over retail investor FOMO risk." However, as the semiconductor sector experienced a correction, the South Korean government defied expectations by going ALL IN, unveiling an "800 trillion won investment plan." (Recommended reading: "This Afternoon, South Korea Will Go All-In on Its National Fortune for the Next Decade") Therefore, while the Korean stock market faces short-term headwinds, a long-term uptrend remains the dominant theme.
Additionally, last Wednesday, Micron's earnings report was stellar, with a gross margin of 84.9% and revenue reaching $41.46 billion. It also forecasts Q4 revenue of $50 billion, significantly exceeding market expectations. The massive $100 billion in long-term contract orders also provided ample confidence for Micron and the broader US semiconductor sector. (Recommended reading: "Super Spiral Explosion: Micron's Earnings Re-ignite the Long Bull Run for Semiconductors")
Another noteworthy event is the Russell Indexes adding several crypto-related listed companies, including ETH treasury companies like Bitmine and Sharplink, as well as established asset managers like Galaxy. As the DAT model marks its first anniversary, the few remaining crypto-concept stocks are gradually gaining mainstream market recognition. The next step is the progressive validation of their business models and cash flow generation capabilities. (Recommended reading: "From SpaceX and Micron to Galaxy Digital: A Guide to the 37 New AI Companies and 7 Crypto Dark Horses in the Russell Indexes")
Finally, the news of CXMT's upcoming IPO and its recent agreement with Tencent for a $3 billion memory chip supply contract have refocused capital markets on the domestic memory chip battleground. Coupled with Apple's earlier 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 could also become a hotly contested arena for major platforms.
For more information on the crypto and stock markets, please refer to MSX.COM. (Note from Odaily: The content of this article does not constitute investment advice and is for educational and exchange purposes only.)
Weekly Updates on Listed Crypto-Stock Companies
Representative BTC Treasury Listed Companies
Strategy Holds Steady, Weekly Net Purchases by Bitcoin Companies Plummet 83%
According to SoSoValue data, as of 8:00 AM EST on June 29, 2026, the total weekly net purchases of Bitcoin by global listed companies (excluding mining companies) was $14.65 million, an 83% decrease 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 Stock (primarily STRC) with annual dividend yields between 8% and 10%. This aims to optimize its capital structure without depleting its existing USD reserves. To fund these repurchases and support general corporate expenses, the board also approved a Bitcoin monetization plan. This allows the company to generate up to $1.25 billion in additional proceeds by selling Bitcoin to bolster its USD reserves. These funds can be used to pay preferred stock dividends and interest expenses (or replenish USD reserves after such payments) when deemed more favorable than issuing Class A common stock or other capital market transactions. They also directly support the two aforementioned repurchase programs (including related taxes and transaction fees). While MicroStrategy has authorized this sale mechanism, it currently serves as a reserve shield for repurchases, with the company holding off on actual selling. Its core strategy has shifted from the initial phase of "aggressive balance sheet expansion" to a more refined operational stage of "using crypto assets to optimize equity capital structure and reduce the cost of capital associated with high-yield preferred stock."
Japanese listed company Metaplanet did not purchase Bitcoin last week, extending its streak without purchases to ten consecutive weeks.
Additionally, two other companies purchased Bitcoin last week. CIMG, a Hong Kong-based globalization group focused on digital health, consumer goods sales, and AI computing power technology, announced the completion of the first tranche of a large stock and warrant offering. It received $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 holdings of global listed companies (excluding mining companies) in the survey reached 1,142,484 BTC, an increase of 0.02% from the previous week. The current market value is approximately $68.52 billion, representing 5.7% of Bitcoin's circulating market cap.
Fidelity: Number of Listed Companies Holding Over 1,000 BTC More Than Doubles Year-over-Year
Fidelity Digital Assets reported that by the end of 2025, the number of listed companies holding at least 1,000 BTC increased to 49 from 22 at the end of 2024. These companies now control nearly 5% of the Bitcoin supply.
Key holders include Strategy (~847,000 BTC), Twenty One Capital (~43,500 BTC), Metaplanet (~40,000 BTC), and MARA Holdings (~36,000 BTC). As of early June 2026, between 170 and 199 listed companies held approximately 1.265 million BTC, representing 6% of the total supply and valued at around $76 billion. In May 2026, listed companies added a net 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 on Monday launched its "Digital Credit Capital Framework," disclosing conditions under which it might sell Bitcoin in the future. The board of directors has 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 securities like common stock when deemed appropriate.
Strategy co-founder and Executive Chairman Michael Saylor stated that the company still considers Bitcoin its primary treasury reserve asset but that Digital Credit requires liquidity, discipline, and active capital management. Saylor noted that the framework aims to enhance credit quality and reduce expected preferred stock dividend payments when accretive.
Strategy did not announce new Bitcoin purchase plans and stated its USD Reserve has 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 for approximately $43 million last week, increasing its holdings to 5.7 million ETH, representing about 4.7% of Ethereum's circulating supply.
The company now controls approximately $9.8 billion in crypto assets, cash, and investments, close to its target of holding 5% of all ETH, though the pace of recent purchases has slowed. Chairman Tom Lee attributed the recent weakness in crypto prices to quarter-end "window dressing."
Sharplink Acquired 39,196 ETH Last Week, Valued at Approximately $62.43 Million
Last week, SharpLink Gaming cumulatively acquired 39,196 ETH, with a total value of approximately $62.43 million. The company now holds over 202,000 ETH.
FG Nexus Loss Exceeds $86.8 Million, Sells Another 3,375 ETH
ETH treasury company FG Nexus sold another 3,375 ETH, valued at $5.34 million, bringing its total loss to over $86.8 million. FG Nexus previously purchased 50,770 ETH for $196 million and 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) at an offering price of ~$1.60 per share via a private placement, raising a total of $19.5 million. The new funds will be used to repay existing debt and continue increasing its SOL asset strategic reserve.
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 breach 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 Solmate's parent company, Brera Holdings. The institution led Solmate's $300 million PIPE financing in September 2025, committing $50 million.
The lawsuit alleges that Solmate's board engaged in several actions detrimental to shareholder interests, including selling shares while other investors were still in a lock-up period, signing consulting agreements favoring board-related parties, and directors Ron Sade and Keren Maimon personally purchasing approximately 2.298 million Class B shares at $4.97 each, causing a ~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 issues to poor management and board self-dealing. Solmate currently 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 Mining Company Plans Merger with HeartSciences, Sending the Latter's Stock Up Over 55%
Fortitude Mining, a Zcash mining company under Digital Currency Group, announced it has signed a definitive merger agreement with HeartSciences Inc., a Nasdaq-listed small-cap medical technology company, to combine the two entities. Following the announcement, HeartSciences' stock price surged as much as 60% during Tuesday's trading session, closing up approximately 55% at $2.70.
Fortitude primarily engages in Zcash mining. Despite ZEC's recent weak 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 that the merger is not based on business synergies but to gain access to the public capital market, thereby obtaining more flexible financing channels to accelerate its core strategy. This includes a "venture mining" platform focused on Zcash and continuing to pursue 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 future expansion.
YZi Labs Management, the management entity of YZi Labs, announced it has reached an agreement with Nasdaq-listed company CEA Industries (BNC) to facilitate further optimization around digital asset strategy and corporate management. It is reported that 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. David Namdar, who previously served as CEO, will continue his current duties during the transition period. YZi Labs has agreed to terminate its previously initiated shareholder consent solicitation and withdraw related demands for inspection of books and records and requests for a record date. This agreement signals an end to potential governance disagreements, shifting the focus towards driving company development through board restructuring and management optimization.
Nasdaq-listed company 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 the revenue sharing percentage from the original 5% to 11%, payable in SUI. The new funds will be used 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.
