USDThis Week’s Smart Money Recap: Bitcoin Treasuries Surge, Ethereum, Solana in Play
Strategy Pauses BTC Buys, Hits $14B Q2 Gains, $4B Tax Bill, Unveils $84B Bitcoin War Chest, Faces Lawsuit
Between June 30 and July 6, 2025, Strategy (MicroStrategy) paused BTC acquisitions, holding 597,325 BTC (~2.8% of total supply, $65B value, $70,982 avg. cost). Q2 saw $14.05B unrealized gains, $4.04B deferred tax expense, and a $6.31B tax liability. Funded by $6.8B from stock programs—MSTR, STRK ($21B ATM), STRF ($2.1B ATM), STRD ($4.2B)—the “42/42” capital plan targets $84B for BTC by 2027. Strategy’s $110B market cap trades at a premium to NAV, amid rising institutional adoption and a new class action lawsuit over risk disclosures. Info released July 8, 2025.
Blockchain Group Acquires 116 BTC; Metaplanet Expands Holdings with 2,205 BTC
The Blockchain Group acquired 116 BTC for €10.7 million, achieving a remarkable 1,348.8% year-to-date yield, and now holds 1,904 BTC valued at €172 million. Metaplanet purchased 2,205 BTC for $238.7 million at $108,237 each, yielding 416.6%, increasing its total to 15,555 BTC. In contrast, Strategy paused purchases after acquiring 4,980 BTC for $531.9 million. Hamak Gold announced a Bitcoin treasury policy, raising £2.47 million to diversify assets. This trend reflects widespread corporate adoption of Bitcoin as a store of value, with traditional firms exploring treasury strategies across industries.
Semler Scientific Acquires 187 Bitcoin for $20M, Total Holdings Reach 4,636 BTC
Semler Scientific acquired an additional 187 BTC for about $20 million, raising its total holdings to 4,636 BTC valued at approximately $502 million. The purchases occurred between June 4 and July 2, financed through proceeds from an at-the-market stock program, generating around $156.6 million. Semler’s average bitcoin purchase price is $92,753 per BTC, totaling approximately $430 million, resulting in paper gains of around $72 million. It ranks 15th in corporate bitcoin holdings among 135 public companies, with a year-to-date BTC Yield of 29%, indicating its strategy’s effectiveness in enhancing shareholder value.
Animoca Partners with DDC to Provide Up to $100 Million in Bitcoin for Treasury Expansion
Animoca Brands has partnered with Asian food giant DDC Enterprise, offering up to $100 million in Bitcoin (BTC) to enhance DDC’s bitcoin treasury and yield strategies, as outlined in a non-binding memorandum of understanding. Yat Siu, Co-Founder of Animoca, will join DDC's Bitcoin Visionary Council, providing insights to bolster its treasury initiatives. DDC, known for its DayDayCook brand, previously secured $528 million for its bitcoin treasury, holding 368 BTC valued at $43.3 million, reflecting a 48.3% yield increase. Bitcoin soared to $117,600, and DDC's shares rose 12.4%, trading at $12.10.
Smarter Web Company Acquires $30M in Bitcoin, Eyes Top 20 Public Treasuries
The Smarter Web Company, a UK web design firm transitioning to a bitcoin treasury model, purchased an additional 275 BTC for $29.75 million, raising its total to 1,275 BTC. The firm's average purchase price is $106,719 per bitcoin, and it now has £31 million ($41.9 million) in cash reserves. Bitcoin is currently valued at $117,963, marking a 10% paper gain on Smarter Web's investments. It ranks 28th among 140 public bitcoin holders, aiming to break into the top 20 shortly. The company’s stock has surged approximately 13,350% since implementing its bitcoin treasury strategy in April.
K Wave Media Secures $1 Billion for Bitcoin Acquisition Strategy with Funding Deals
K Wave Media Inc. (KWM) has raised $1 billion to enhance its Bitcoin acquisition strategy, including a new $500 million convertible note agreement with Anson Funds, complementing a prior $500 million equity deal with Bitcoin Strategic Reserve. The company has acquired 88 BTC, aiming to scale holdings to 10,000 BTC. The convertible notes carry a 12% annual interest, maturing on July 3, 2027, with warrants exercisable at $3.66 per share for five years. Despite these advancements, KWM shares fell 16% to about $4.60, showcasing the volatility in investor sentiment amid aggressive treasury financing.
KULR Technology Invests $10 Million in Bitcoin, Joins 1,000 BTC Club
KULR Technology Group has invested an additional $10 million in bitcoin, acquiring 90 BTC at an average price of $108,884 each, thus boosting its total holdings to 1,021 BTC valued at $113 million. Funded partially by an $8 million drawdown from a credit facility with Coinbase, KULR now has a total investment of around $101 million, yielding approximately $12 million in paper gains. The company’s bitcoin strategy aims to enhance shareholder value, evidenced by a year-to-date BTC Yield of 291.2%. KULR ranks 31st among public firms following this strategy, joining the 1,000 BTC club for the first time.
SharpLink Shares Surge 71% After $30 Million Ethereum Acquisition from Foundation
SharpLink Gaming's shares surged by 71% to around $20 following its acquisition of 10,000 Ethereum from the Ethereum Foundation for $30 million, marking a 50% increase over the past week. As Ethereum surpassed $3,000, the Foundation confirmed the OTC sale, which it described as a strategy to support research and development. Despite the gains, SharpLink's stock remains significantly below its all-time high of $124. The company now holds approximately 215,000 Ethereum, worth $644 million, making it the second-largest holder after the Ethereum Foundation. The initiative is led by SharpLink Chairman Joe Lubin, also an Ethereum co-founder.
Bit Digital Converts Entire Treasury to Ethereum, Becomes Major ETH Holder
Bit Digital has transformed its treasury by converting its entire holdings from Bitcoin to Ethereum, amassing over 100,000 ETH and becoming one of the largest public holders of the token. The Nasdaq-listed company liquidated around 280 BTC, worth over $30 million, and raised $173 million through a share offering to fund the acquisition. They now hold approximately 100,603 ETH, up from 24,434 ETH earlier this year. This shift is driven by Ethereum's potential in the financial sector and staking benefits. Following the announcement, Bit Digital's stock surged over 21%, elevating its market cap from $594 million to over $833 million.
GameSquare Launches $100M Ethereum Treasury Strategy with 8–14% Yield Target
GameSquare is launching a $100 million Ethereum treasury strategy, collaborating with Dialectic's Medici platform to target annual yields of 8–14%. To initiate this plan, an underwritten public offering of 8.42 million shares at $0.95 each aims to raise about $8 million, with a 45-day option for additional shares. This aligns GameSquare with trends among firms like Bit Digital and GameStop, moving from traditional reserves to Ethereum. The strategy reflects a significant pivot from eSports/media to a finance-tech focus, as Ethereum becomes a pivotal reserve asset for corporations, enhancing investor confidence and driving a stock price surge.
BTC Digital Shares Surge 20% After Establishing $1M Ethereum Reserve
Nasdaq-listed BTC Digital (ticker BTCT) announced a strategic reserve of $1 million in Ethereum, leading to a 20% surge in its stock price. This initiative marks the company's shift from a "hash-rate provider" to a participant in onchain financial infrastructure, aiming for long-term growth amid the expanding stablecoin market. CEO Siguang Peng emphasized Ethereum's role in decentralized finance and value transfer. Founded in 2006 and public since April 2020, BTC Digital’s shares have traded under $10 since September 2022, with a market cap of approximately $32 million, signifying ongoing strategic evolution and expansion plans.
Binance Founder’s Family Office Backs BNB Treasury Firm Eyeing US IPO
Binance founder Changpeng Zhao's family office is backing a new BNB treasury firm intending to go public in the US. YZi Labs supports 10X Capital in launching this company, aimed at providing institutional exposure to BNB, which currently trades at $663.86. David Namdar will serve as CEO. The firm anticipates closing financing soon. Zhao, who controls 94 million BNB tokens worth nearly $63 billion, is banned from managing Binance due to legal issues but remains its largest shareholder. Recent trends show firms increasingly stockpiling cryptocurrencies like BNB and Bitcoin for investment purposes, enhancing market accessibility.
Bit Mining Stock Soars 350% on Strategic Shift to Solana, Plans $300M Token Treasury
Bit Mining's stock surged by 350% in pre-market trading after announcing a strategic pivot to the Solana ecosystem, rising from $2 to a high of $11. The company plans to raise $200 million to $300 million to build a Solana token treasury, converting most of its existing crypto holdings into SOL. Currently holding 19 Bitcoin valued at approximately $2 million, Bit Mining will also run validator nodes on Solana to enhance network security. CEO Xianfeng Yang emphasized their commitment to adapting in the evolving blockchain industry, positioning Bit Mining as the 17th-largest Bitcoin miner by market cap.
Upexi to Raise $200M, Aiming for 1.65M SOL Treasury Expansion
Upexi plans to raise $200 million through a private placement of common stock and convertible notes to expand its Solana treasury to 1.65 million SOL, valued at approximately $273 million. The company raised about $50 million from selling 12.5 million shares at $4 per share, expected to close by July 14. Additionally, Upexi aims to secure $150 million from a deal with Big Brain Holdings. Following this, it will exceed its previous SOL holdings of 735,692 tokens. Upexi's shares traded at $5.29, reflecting a 5.81% gain, while Solana's current price is $166.
This article has been refined and enhanced by ChatGPT.
