Next Technology Holding
NXTT · NasdaqTreasury vehicleMediumUnited States (Wyoming-incorporated; operations in China/Asia-Pacific)
BTC held
5,833
as of Mar 31, 2025 · 0.028% of 21M
Value now
$453M
at BTC $77,670
Basic mNAV
0.02×
mkt cap $9M as of Aug 28, 2026
Sats per share
395,995
1.47M shares as of Aug 10, 2026
Cost basis
- Average cost per BTC
- $31,386
- Total invested
- $183M
- Unrealized gain
- $270M (+147.5%)
Treasury debt
No convertible notes or treasury-linked debt on file.
Recent activity
No new BTC purchases disclosed in 2026 — the last acquisition was ~5,000 BTC in March 2025 funded by an ~$157M registered direct offering, after which it filed a $500M shelf partly earmarked for more bitcoin. On Aug 10, 2026 it executed a 100-for-1 reverse stock split to keep Nasdaq compliance.
Risk notes
Extreme red flag: market cap (~$9M) is roughly 2% of the claimed BTC value (~$455M at Aug 2026 prices), an mNAV discount reflecting deep market skepticism about verification/custody of the holdings, governance, and the China-based operating history (formerly WeTrade). Holdings have not been re-confirmed by the company since Q1 2025, and the reverse split underscores delisting pressure. Post 100-for-1 reverse split (Aug 10, 2026); warrants for ~2.94M post-split shares at nominal price remain — fully diluted is ~3× the basic count. Holdings last disclosed Mar 31, 2025; the extreme discount reflects market doubt.
Sources
- https://www.coingecko.com/en/treasuries/companies/next-technology-holding
- https://bitcointreasuries.net/public-companies/next-technology-holding-inc
- https://www.theblock.co/treasuries/nxtt
- https://www.sec.gov/Archives/edgar/data/1784970/000121390026085658/ea030055901ex99-1.htm
- https://stockanalysis.com/stocks/NXTT/
- https://bitcointreasuries.net/
Figures are compiled from public disclosures and may lag. This page is information, not investment advice or a recommendation regarding NXTT securities.