Publicly listed companies sharply reduced their bitcoin buying last week, with net purchases totaling just $5.32 million by 8:00 a.m. Eastern on Aug. 17, according to SoSoValue. The figure was down 90.34% from the previous week and came entirely from two reported buyers: Capital B and Strive.
Capital B bought 5 BTC at an average price of $64,395.60, taking its holdings to 3,145 BTC. Strive spent roughly $5 million to acquire 79 BTC at an average price of $63,231, increasing its balance to about 20,246 BTC. Metaplanet made no purchases for a fifth consecutive week.
The slowdown left the combined bitcoin holdings of tracked listed companies, excluding miners, at 1,139,641 BTC. That was only 0.007% higher than a week earlier, according to SoSoValue. The holdings were valued at approximately $72.42 billion and represented 5.7% of Bitcoin’s circulating market value.
Strategy shifts capital to preferred-share repurchases
Strategy, the largest corporate bitcoin holder, did not report a bitcoin purchase during the period. Instead, the company repurchased 1,388,720 shares of its STRC preferred stock for $132 million.
The move illustrates a capital-allocation decision facing large digital-asset treasury companies: buying more coins is no longer the only route for deploying cash or raising shareholder value. A preferred-share repurchase can reduce outstanding claims and alter the company’s financing profile, while avoiding additional exposure to short-term bitcoin price movements.
Other corporate holders moved in the opposite direction. Empery Digital sold 235 BTC to repay a separate $10 million debt, reducing its bitcoin balance to 1,279 BTC. BitcoinTreasuries.NET ranked the company No. 39 among publicly disclosed corporate bitcoin holders following the sale.
Zhibao Technology said it completed a private placement involving 2,380 BTC, with participation restricted to non-U.S. buyers. The disclosure points to another route companies are using to build or structure crypto balances outside open-market purchases.
Norway fund’s exposure remains concentrated in Strategy
Norway’s sovereign wealth fund increased its indirect bitcoin exposure to the equivalent of 11,549 BTC at the end of the first half of 2026, according to Vetle Lunde, head of research at K33. The exposure was valued at about $725 million, up 21.2% during the first six months of the year and 60.5% from a year earlier.
Nearly 86% of that exposure, or roughly 9,914 BTC, came through the fund’s stake in Strategy. The fund held about 1.17% of Strategy as of June 30. Its remaining bitcoin-linked exposure included holdings corresponding to 671 BTC through Metaplanet, 421 BTC through MARA, 183 BTC through Coinbase, 120 BTC through Block and 97 BTC through Tesla.
The figures show how a large institutional portfolio can accumulate bitcoin sensitivity through listed equities without directly holding the asset. They also underline Strategy’s outsized role in the public-market bitcoin treasury trade: changes in its share price, financing structure or balance-sheet strategy can affect the crypto exposure of funds that own the stock for broader equity reasons.
Trump Media reports losses and expands bitcoin balance
Trump Media reported a second-quarter net loss of $238 million and said it planned to adjust its digital-asset treasury strategy while allocating more resources to Truth Social, Truth+ and other media operations.
The company recorded $190.4 million in unrealized losses related to digital assets, staked digital assets and equity securities. It also warned that lending and yield arrangements can create counterparty credit risk, including the risk that assets may not be recovered.
As of June 30, Trump Media held 9,477.16 BTC and had another 2,077.34 BTC posted as collateral for options strategies. The company later disclosed that it sold $159.6 million in bitcoin-related securities during July and purchased bitcoin, ending July with roughly 14,139 BTC, including staked coins, valued at about $890.5 million.
Its quarterly results demonstrate how digital-asset treasury programs can produce large earnings swings under fair-value accounting, which requires qualifying crypto assets to be remeasured at market prices. The accounting treatment brings price declines into reported results more quickly than older impairment-based approaches, even if a company has not sold its holdings.
Ether treasuries pursue staking income
While bitcoin purchases slowed, companies holding Ether and other proof-of-stake assets continued to emphasize staking returns. Bitmine Immersion Technologies added 9,926 ETH last week, bringing its Ether balance to 5,815,164 ETH. It also reported holding 210 BTC, $73 million in Eightco Holdings equity and $180 million in Beast Industries shares.
Bitmine said 5,067,309 ETH, valued at about $9.6 billion, had been staked. The company’s board also approved 17 cash dividend payments in 2026 for its NYSE-listed Series A perpetual preferred shares, BMNP. Most payments are scheduled at $0.1847 per share, with a fixed 9.50% dividend rate.
SharpLink also committed more of its Ether reserve to staking, moving $200 million worth of ETH through Lido. The company said it would receive wrapped staked ETH, or wstETH, representing its staked assets and accumulated rewards, while Anchorage Digital would act as custodian.
SharpLink later reported holding about 863,000 ETH valued at $1.46 billion, including 632,784 ETH held directly and 181,321 ETH held through liquid-staking tokens. Its second-quarter net loss widened to $394 million from $103 million a year earlier, including $321 million in unrealized crypto-asset losses and $76 million in impairment tied to staked ETH. Revenue reached $11.5 million, almost all of it from ETH staking.
Alternative-token treasuries face sharper valuation risk
Forward Industries reported a fiscal third-quarter net loss of $69 million, largely tied to fair-value accounting for its Solana holdings. The company ended the quarter with about 7.55 million SOL and said per-share SOL holdings rose 9% to 0.0730 after it acquired and staked more than 500,000 SOL and repurchased 2.5 million shares.
Revenue rose more than fourfold from a year earlier to $10.8 million, driven mainly by SOL staking and treasury-related income. As of Aug. 3, Forward said it held about 7.8 million SOL.
Other companies reported even more concentrated token positions. Cypherpunk Technologies said it held 323,400 ZEC as of Aug. 11, equal to about 1.92% of ZEC’s circulating supply, after reporting $46 million in non-cash gains during the quarter as ZEC rose from $243.35 to $400.09. Greenlane Holdings, by contrast, said its 81.30 million BERA treasury was worth about $16.4 million, down 76.6% from a cost basis near $70 million.
StablecoinX reported holding about 3 billion ENA, or roughly 20% of the token’s total supply, and booked a $36.2 million ENA impairment during the quarter. These concentrated treasury strategies can create recurring staking income or token-linked gains, but they also place corporate earnings and balance sheets under heavier pressure when a single asset falls sharply.
To act on shifting corporate bitcoin demand, explore strategic bitcoin positioning beyond institutional treasury moves today.
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