Public Companies With Huge Bitcoin Balances: The Full 2026 List

Public Companies With Huge Bitcoin Balances | Last Updated July 2026

TL;DR: Public Companies With Huge Bitcoin Balances in 2026

• Strategy (formerly MicroStrategy) still leads the pack. It holds roughly 840,000 BTC.
• Twenty One Capital and Metaplanet are racing for second place. Each holds close to 43,000 BTC.
• MARA Holdings sold a big chunk of its treasury in early 2026. It still holds nearly 39,000 BTC.
• Miners like Riot Platforms, CleanSpark, and Hut 8 hold Bitcoin as a byproduct of digging it up, not just as a bet.
• Coinbase and Strive Asset Management are growing their own Bitcoin treasuries too.
• New players like Bitcoin Standard Treasury Company (BSTR) are shaking up the rankings.
• Tesla and GameStop hold Bitcoin as a side asset, not their main business.
• Public companies now control over 5% of all Bitcoin. That is up from roughly 1.5% just two years ago.
• Some smaller firms are actually selling Bitcoin in 2026. This trend is not one-way anymore.
• Any dollar value here is just a snapshot. Bitcoin's price moves fast, so the numbers shift daily.

Not every company on this list got here the same way. So that matters if you want the full picture. Broadly, these firms fall into three groups.

First, there are treasury companies. These firms buy Bitcoin on the open market as their core strategy. For example, Strategy, Twenty One Capital, Metaplanet, and BSTR all fit here. Their pitch to investors is simple. Basically, buy our stock, and you get exposure to Bitcoin.

Second, there are Bitcoin miners. Companies like MARA, Riot, CleanSpark, and Hut 8 earn Bitcoin directly. They run mining rigs and collect block rewards plus fees. Meanwhile, some of that Bitcoin gets sold to cover costs. Still, a lot of it stays on the books as a long-term treasury.

Third, some companies hold Bitcoin as a side asset. In other words, it is not their main business. Tesla and GameStop are good examples here. Bitcoin sits next to cash and other investments on their balance sheet. But it is not why the company exists.

Knowing which group a company falls into explains a lot. For instance, some firms keep buying no matter what. Others, however, sell fast when cash gets tight.

Public Companies With Huge Bitcoin Balances: The Full 2026 List

Here is a snapshot from mid-2026. Keep in mind that Bitcoin's price swings hard. So dollar values shift daily, even when BTC counts stay flat.

Company

Approx. BTC Held

Category

Strategy (MSTR)

~840,000

Treasury

Twenty One Capital (XXI)

~43,500

Treasury

Metaplanet

~43,000

Treasury

MARA Holdings

~38,700

Miner

Riot Platforms

~17,500

Miner

Coinbase Global

~15,400

Exchange

Hut 8

~14,000

Miner

Strive Asset Management

~13,700

Treasury

CleanSpark

~13,000

Miner

Tesla

~11,500

Side holder

Bitcoin Standard Treasury Co. (BSTR)

~30,000+

Treasury

GameStop

Undisclosed (bought $500M+ in 2025)

Side holder

Strategy Holds More Bitcoin Than Any Other Public Company

Strategy used to be called MicroStrategy. Then, it rebranded in early 2025 and has not slowed down since. Co-founder Michael Saylor turned a plain business software firm into a Bitcoin buying machine. Today, the company holds around 840,000 BTC. That is a massive jump from the 226,500 BTC it held back in 2024. So, no other public company comes close to that stack. Overall, Strategy is, by far, the heavyweight champ of corporate Bitcoin.

Twenty One Capital Is Bitcoin's Newest Heavyweight

Twenty One Capital trades under the ticker XXI, and it holds about 43,500 BTC. Older companies often added Bitcoin to a business they already ran. Twenty One Capital, however, did the opposite. Instead, it built its entire model around Bitcoin from day one. As a result, that laser focus earned it second place among public Bitcoin holders, right behind Strategy.

Metaplanet Is Japan's Bitcoin Powerhouse

Metaplanet started small. Back in 2024, it was just a Tokyo hotel and tech firm with barely any Bitcoin. Fast forward to mid-2026, though, and it holds roughly 43,000 BTC. So that makes it Japan's biggest corporate Bitcoin holder and a top-three name worldwide. The company raises cash through stock and debt sales. Also, it runs a side business selling Bitcoin options for extra income. Its stated goal is 210,000 BTC by the end of 2027. Still, hitting that number will take some serious fundraising.

MARA Holdings Still Ranks Among the Biggest Bitcoin Miners

MARA Holdings used to go by Marathon Digital. Then, in March 2026, it sold over 15,000 BTC to pay down debt. Even after that sale, MARA still holds close to 38,700 BTC. Most of that Bitcoin came straight from mining, not market purchases. So, the sale did knock MARA down a few spots. Basically, it is proof that even the biggest miners feel financial pressure sometimes.

Riot Platforms and the Bitcoin Miner Balancing Act

Riot Platforms built its name on huge mining operations in Texas. For a while, it refused to sell any mined Bitcoin at all. Then, that changed a bit in 2026. Instead, Riot sold part of its treasury to fund a pivot into AI and data centers. So, its holdings now sit around 17,500 BTC. Overall, Riot is a great example of how miners sometimes treat Bitcoin like working capital, not a permanent vault.

Coinbase Holds a Sizeable Bitcoin Treasury of Its Own

Coinbase is best known as a crypto exchange. But it also keeps real Bitcoin on its own books, separate from what customers store there. As of 2026, that treasury sits around 15,400 BTC. Sure, it is smaller than Strategy's stack. Still, it shows real confidence from one of crypto's biggest players.

Hut 8 and CleanSpark Round Out the Top Miners

Hut 8 is based in Canada, and it holds close to 14,000 BTC from its mining work. Also, the company is branching into data centers and AI infrastructure. CleanSpark, meanwhile, is based in the US and holds just over 13,000 BTC. Instead of buying BTC on the open market, it leans hard into mining efficiency. Overall, both firms show how mining-based Bitcoin stacks keep growing, even as the space matures.

Strive Asset Management Is a New Kind of Bitcoin Holder

Strive Asset Management crossed into the top holders list with roughly 13,700 BTC. A massive capital raise fueled that growth. Also, the firm, co-founded by Vivek Ramaswamy, pushed GameStop toward its own Bitcoin buy. Later, Strive bought Semler Scientific, a smaller Bitcoin treasury firm. Basically, it blends old-school asset management with a Bitcoin-first strategy. So this is a name worth watching closely.

Tesla Still Holds Bitcoin, Just Less Than Before

Tesla made headlines in 2020 by buying $1.5 billion worth of Bitcoin. Then, it sold part of that stash in 2021. These days, Tesla holds around 11,500 BTC. So that is a modest position next to the treasury-focused firms on this list. Still, Tesla's early move helped make corporate Bitcoin buying feel normal in the first place.

GameStop and BSTR Show How the List Keeps Growing

GameStop was once known for meme-stock chaos. But in 2025, it bought more than $500 million worth of Bitcoin. Later, it placed those funds into a covered call strategy through Coinbase. Meanwhile, Bitcoin Standard Treasury Company launched with backing from Blockstream's Adam Back. It started with a contribution of over 30,000 BTC and a Nasdaq listing under the ticker BSTR. Together, both stories prove one thing. Basically, new players keep joining the corporate Bitcoin space, even as some smaller firms quietly step away.

Why Public Companies Keep Buying Bitcoin

There is no single reason every firm on this list loaded up on BTC. But a few themes keep showing up.

For treasury companies, Bitcoin is basically the whole business. So, buying BTC and holding it long-term gives investors an easy way in. Often, it is simpler than buying and storing crypto yourself. Instead, you just buy the stock.

For miners, holding Bitcoin instead of selling it fast is a bet. Specifically, it is a bet that the price will climb over time. Also, it avoids flooding the market with sell pressure. That said, 2026 proved miners will sell fast when cash flow gets tight.

For firms like Tesla, Bitcoin works more like digital gold. In other words, it diversifies the balance sheet without becoming the company's whole identity.

And yes, there is a status angle too. Basically, big firms buying Bitcoin signals that they are forward-thinking. However, that signal does not always mean more profit. Still, it matters to plenty of investors, and that alone keeps the trend rolling.

Not Every Company Is Buying: The 2026 Sell-Off Trend

Here is something new for 2026. Public companies are actually cutting their Bitcoin positions, not just adding to them. For example, Sequans Communications and Empery Digital both sold chunks of their treasuries this year. They needed cash to pay down debt or shift business strategy. Even Riot and MARA, two major miners, trimmed their stacks.

That said, this does not mean corporate Bitcoin buying is falling apart. Instead, it means the trend is growing up. Basically, firms that jumped in during the hype years now feel real money strain. Since Bitcoin sells fast and easy, it is often the first thing firms cash out when times get tough.

Meanwhile, the biggest treasury companies keep buying hard. Strategy, Metaplanet, and Twenty One Capital have not blinked. So that tells you conviction has not vanished. It has just gotten more selective, and a lot more sensitive to who can actually afford to hold long term.

What This Trend Means for Bitcoin Miners

If you run or follow a mining operation, this shift matters beyond the headlines. Miners that hold Bitcoin instead of selling it right away are making a treasury bet on top of their operating business. So that doubles their exposure to price swings.

When Bitcoin's price drops, miners with big BTC stacks can feel it twice. Their mining margins shrink, and their treasury value drops too. That combo, in fact, is exactly what pushed Riot and MARA to sell portions of their holdings in 2026.

So, smaller mining operations should watch this closely. Sure, a "mine and hold everything" plan sounds great during a bull run. But it can turn into a cash crunch fast when the market cools off. Instead, many larger miners now mix things up. They sell some Bitcoin to cover costs, and they bank the rest for the long term. Overall, that mixed plan looks smarter with each passing quarter. It is also worth copying if your own setup leans too hard on one side.

Public Companies vs. Spot Bitcoin ETFs: What's the Difference?

You might wonder why anyone buys Strategy or Metaplanet stock instead of a spot Bitcoin ETF. After all, both give you Bitcoin price exposure. But they work quite differently under the hood.

A spot ETF holds real Bitcoin. It issues shares that track the price closely. So, if you want plain Bitcoin exposure with low fees, an ETF often does the job well. Also, ETFs let you cash out shares fast. That means less drama around price gaps.

Treasury companies work differently. Their stock price can trade well above or below the value of the Bitcoin they hold. People often pay extra for the growth story or the debt-fueled buying that a firm like Strategy offers. Other times, the stock trades below that value, and that can spook shareholders fast.

Basically, ETFs are simpler and easier to predict. Treasury stocks, on the other hand, add extra risk and extra upside. That is because they can take on debt or sell new shares to buy even more Bitcoin. Neither choice is always better. It just depends on the risk you want to take.

How to Track These Numbers Yourself

Bitcoin balances move fast, so a static list goes stale quickly. If you want live numbers, a few resources update constantly. For instance, Bitcoin Treasuries and similar tracking sites pull data straight from company filings and public disclosures. Also, quarterly earnings calls are a great source, especially for miners like Riot, MARA, and CleanSpark, since they report both production and treasury changes each quarter.

For the treasury-first companies like Strategy and Metaplanet, watch their own investor relations pages instead. Many post real-time or near-real-time updates whenever they make a new purchase. So that is often faster than waiting for the next earnings report.

Public Companies With Huge Bitcoin Balances FAQ

Which public company holds the most Bitcoin?

Strategy, formerly known as MicroStrategy, holds the most Bitcoin of any public company. It sits at roughly 840,000 BTC as of mid-2026. No other firm comes close. Michael Saylor's company has held the top spot for several years running.

How much of Bitcoin's total supply do public companies control?

Public companies now hold more than 5% of Bitcoin's fixed 21 million coin supply. That is a sharp jump from around 1.5% just two years ago. It shows how fast corporate Bitcoin adoption has grown.

Why do Bitcoin mining companies hold onto their coins instead of selling them?

Many miners hold Bitcoin instead of cashing out right away. They bet the price will rise over time. Holding also avoids adding extra sell pressure to the market. Still, some miners sell part of their treasury when they need cash. Riot Platforms and MARA both did this in 2026.

Are any public companies selling their Bitcoin in 2026?

Yes, quite a few. Smaller firms like Sequans Communications and Empery Digital sold Bitcoin this year to pay down debt or shift strategy. Even some big miners trimmed their positions. Meanwhile, the largest treasury-focused firms are still buying aggressively.

Is it risky for a public company to hold this much Bitcoin?

Holding a large Bitcoin position ties a company's balance sheet to crypto's price swings, and those swings can be steep. This is not financial advice. Every company weighs that risk differently, depending on its business model and how much debt it carries.

Should I buy a Bitcoin treasury stock or a spot Bitcoin ETF instead?

That depends on your goals. A spot ETF gives you straightforward Bitcoin exposure with fewer moving parts. A treasury stock like Strategy or Metaplanet adds extra risk and extra upside, since the company can raise debt or issue shares to buy more BTC. Neither choice is automatically right, so consider your own risk tolerance first. This is not financial advice.

The Bottom Line

The list of public companies with huge Bitcoin balances looks nothing like it did two years ago. It will probably look different again by next quarter too. Strategy remains the clear heavyweight. But newer names like Twenty One Capital, Metaplanet, and BSTR prove the space is far from settled.

At the same time, a wave of smaller sellers shows this trend has real financial stakes attached. It is not just hype anymore. If you are tracking this space, do not treat any single list as gospel. Company filings and quarterly earnings calls are your best bet for staying current, since these numbers move faster than almost any other corporate metric out there.

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