Bitcoin Treasury Companies Statistics 2026: Holdings and Cost Basis

Strategy held 846,000 bitcoin as of June 30, 2026, at an average purchase price of $75,578 per coin. Its second-quarter Form 10-Q carries that position at a digital asset cost basis of $63.94 billion. No other filer among the public bitcoin treasury companies covered here is close, and that single balance sheet is why category-level totals move whenever one issuer buys or sells.

Public bitcoin treasury companies reach the same asset from three different directions: miners that kept what they produced, operating companies that bought coins outright years ago, and purpose-built vehicles created to hold nothing else. The figures below come from the filings themselves rather than from tracker aggregates, so every holding carries the as-of date the company reported and, where disclosed, the price it actually paid.

Key Takeaways

• Strategy’s position dominates the filer set. Its 846,000 bitcoin equal 87.3% of the 968,788 bitcoin held across the seven filers covered here.
• Mining companies can sit deep below their own cost. CleanSpark disclosed a cost basis of $90,188 per bitcoin against a fair value of $58,524 per bitcoin as of June 30, 2026, a gap of $31,664 per coin.
• Not every coin on a miner’s balance sheet is in hand. MARA reported 26,307 bitcoin plus 9,270 bitcoin classified as a receivable, for total bitcoin holdings of 35,577 as of June 30, 2026.
• Older corporate buyers carry far cheaper coins. Tesla’s 11,509 units of Bitcoin held at an acquisition cost of $386 million work out to roughly $33,538 each.
• Metaplanet described itself as the world’s third-largest corporate Bitcoin holder with 43,000 BTC in its August 18, 2026 announcement, the only non-US filer in the group.
• Treasury vehicles are no longer bitcoin-only. SharpLink reported approximately 888,938 ETH as of August 3, 2026, the largest single disclosed ether position in the cohort.

Editor’s Choice

• Largest holding in this filer set: 846,000 bitcoin at Strategy as of June 30, 2026.
• Capital committed: a digital asset cost basis of $63.94 billion behind that position.
• Largest ether treasury in this set: 888,938 ETH at SharpLink as of August 3, 2026.
• Third-largest corporate holder: Metaplanet at 43,000 BTC, listed in Tokyo as TSE: 3350.
• Largest miner treasury in this set: MARA at 35,577 total bitcoin, carried at a fair value of $2.083 billion.
• Dollar reserve behind the dividends: Strategy’s USD Reserve balance of $2.55 billion as of July 5, 2026.

Bitcoin Treasury Companies Ranked by Total Holdings

• Strategy reported 846,000 bitcoin as of June 30, 2026, and 843,775 bitcoin as of July 5, 2026, the difference reflecting sales rather than purchases.
• MARA Holdings carried total bitcoin holdings of 35,577 as of June 30, 2026 across two balance-sheet lines.
• CleanSpark held 12,205 bitcoin as of June 30, 2026, up from 10,428 at September 30, 2025.
• Tesla still carried 11,509 units of Bitcoin as of June 30, 2026, unchanged from its December 31, 2025 disclosure.
• Riot Platforms closed the quarter with 11,380 bitcoin, of which 5,821 were held as collateral.
• Block reported approximately 9,117 bitcoins held for investment purposes as of June 30, 2026, up from 8,883 at December 31, 2025.
• Metaplanet’s 43,000 BTC is the only non-US position in the group and the only one disclosed through a press release rather than a periodic filing.

Source: SEC filings and issuer press releases, 2026

About This Data

Every figure here is compiled from 14 primary sources: SEC Forms 8-K and 10-Q plus two issuer press releases, all Tier 1, captured between June and August 2026. A company qualifies only if it disclosed a specific holding in its own filing or release. Figures are reviewed on a rolling basis and updated when the next filing lands.

Don't chase the news. Let us curate it.

You get one weekly briefing with only the stories that matter. If the market is quiet, we skip it.

Email address

Get the Weekly Briefing - it's free!

✅ Join readers from Visa, Mastercard, Vanguard, and the FDIC.

Which company holds the most Bitcoin?

Strategy holds the most. Its 846,000 bitcoin as of June 30, 2026 sit at a digital asset cost basis of $63.939 billion, or $63.94 billion, which is larger than every other position in the filer set combined. The company’s MicroStrategy holdings history shows how that balance was assembled over successive quarters.

Balance-Sheet Value of Corporate Bitcoin Holdings

• MARA carried its bitcoin at a fair value of $2.083 billion against a cost basis of $1.945 billion as of June 30, 2026, one of the few holdings in the group marked above what it cost.
• CleanSpark’s position was worth $714.3 million in fair value against $1.101 billion of cost basis on the same date.
• Riot valued its coins at approximately $666.0 million, based on the market price for one bitcoin on June 30, 2026, of $58,527.
• Block reported a fair value of $533.9 million on approximately 9,117 bitcoins held for long-term investment.
• Reported currency units differ by filer: MARA’s fair value converts to $2,083.1 million and CleanSpark’s to $714.3 million, which is how both sit on the same scale as Riot and Block below.

Worth noting: MARA’s total bitcoin carried a fair value of $2.083 billion against $1.945 billion of cost, while CleanSpark’s $714.3 million of fair value sat below $1.101 billion of cost. Two miners, the same quarter, opposite sides of their own entry prices.

Recent Developments

• June 2026: On June 23, SharpLink completed a $75.0 million registered direct offering, issuing 10,013,351 shares of common stock and accompanying warrants at a combined purchase price of $7.49 per share and warrant.
• June 2026: Riot ended the quarter with over $1.2 billion in liquid assets, including 11,380 bitcoin and $548.9 million in cash, of which $77.5 million is restricted.
• June 2026: MARA closed the period with total digital assets of $2.085 billion in fair value, including $2.083 million of other digital assets.
• July 2026: Strategy reported 843,775 bitcoin and a USD Reserve balance of $2.55 billion, after selling 2,225 bitcoin between July 1 and July 5.
• August 2026: SharpLink’s ether treasury reached approximately 888,938 ETH, up from approximately 886,881 ETH at June 30, 2026.
• August 2026: Metaplanet agreed to contribute 2,100 Bitcoin through its wholly owned subsidiary to Super League Enterprise (Nasdaq: SLE), which will be renamed Superplanet, Inc. and become its US Bitcoin treasury platform.

Quarter-by-Quarter Growth in the Largest Treasury

• Strategy’s balance climbed across four consecutive quarter-ends, from 597,325 bitcoin at June 30, 2025 to 672,500 at December 31, 2025, 762,099 at March 31, 2026, and 846,000 at June 30, 2026.
• The June 2026 quarter added 83,901 bitcoin, below the 89,599 added in the March quarter.
• Accumulation ran against a falling market. Strategy disclosed a market price per bitcoin at the end of the June 2026 quarter of $58,714, against a highest market price during that quarter of $76,306 and a lowest of $58,000.
• Measured at the ending market price, the position was worth $49.672 billion at June 30, 2026.
• Year over year, the balance grew by 41.6% from the June 2025 quarter-end.

What Treasury Companies Paid per Bitcoin

• Strategy disclosed $75,578 as the average price it paid for the bitcoin it held as of June 30, 2026.
• CleanSpark disclosed a per-bitcoin cost basis of $90,188 as of June 30, 2026, down from $105,025 at September 30, 2025.
• The market reference point was low against both. Riot cited a market price for one bitcoin on June 30, 2026 of $58,527.
• CleanSpark’s own mark on the same day was a fair value of $58,524 per bitcoin, within $3 of Riot’s reference, which is a useful cross-check on two independently prepared filings.
• Production cost is a separate number from purchase cost. Riot reported an average cost to mine bitcoin, excluding depreciation, of $49,912 in the quarter, compared with $48,992 per bitcoin in the same three-month period in 2025.

Cost basis is the number the aggregator trackers usually omit, and it changes how a holding reads. A miner whose coins were produced near the top of a cycle carries a very different balance sheet from one that accumulated years earlier, even when both report similar coin counts. Reported production cost sits below both purchase-price figures above, which is the arithmetic behind why several miners became bitcoin treasury companies rather than sellers of their own output. Readers tracking the underlying economics can follow the cryptocurrency mining statistics that drive those production numbers.

Cost Basis Committed Across the Smaller Cohort

• MARA’s cost basis stood at $1.945 billion across total bitcoin holdings of 35,577 as of June 30, 2026, or about $54,663 per coin.
• CleanSpark had committed $1.101 billion of cost basis to 12,205 bitcoin by the same date.
• Tesla’s entry remains the cheapest disclosed in the group at an acquisition cost of $386 million for 11,509 units of Bitcoin.
• Block reported a cost basis of $310.2 million on approximately 9,117 bitcoins, against $292.6 million on 8,883 bitcoins at December 31, 2025, which implies an average near $34,024 a coin.
• Additions have been modest for the operating-company holders. Block’s bitcoin investment balance moved from 8,883 bitcoin at December 31, 2025, to 9,117, with additions of 149 bitcoin valued at $12.6 million.

Unrealized Losses Running Through Treasury Earnings

• Strategy reported an unrealized loss on digital assets of $8.32 billion for the three months ended June 30, 2026, and $22.77 billion for the six months.
• The gap between what it paid and what the coins were worth is visible on the balance sheet: a digital asset cost basis of $63.939 billion against a digital asset fair value of $49.672 billion, a shortfall of $14.27 billion.
• CleanSpark sat in the same position at a smaller scale, $386.5 million below cost at June 30, 2026.
• MARA carried its coins $138.4 million above cost on the same date.
• Even collateral positions moved. Coinbase’s bitcoin held as collateral carried a cost basis of $1.657 billion against a fair value of $1.323 billion.
• Holdings grew through the drawdown rather than shrinking. Strategy’s balance rose from 672,500 bitcoin at December 31, 2025 to 846,000 at June 30, 2026.

Key finding: Strategy booked $22.77 billion of unrealized loss on digital assets across the six months ended June 30, 2026 while its holdings rose from 672,500 to 846,000 bitcoin. Mark-to-market accounting means the reported loss and the accumulation trend point in opposite directions in the same filing.

Bitcoin Miners That Became Treasury Holders

• MARA splits its balance in two: 26,307 bitcoin at a cost basis of $1.890 billion and a fair value of $1.541 billion, plus 9,270 bitcoin receivable at $55.2 million of cost and $542.5 million of fair value.
• The receivable line is the distinction that coin-count trackers flatten. Coins recorded as receivable are owed to the company rather than sitting under its own keys, so a headline balance and a controlled balance are not the same number.
• Riot’s collateral position works the same way: of its 11,380 bitcoin, 5,821 were held as collateral.
• Production still feeds these balances. Riot produced 1,587 bitcoin in the quarter, compared with 1,426 during the same three-month period in 2025.
• Mining revenue fell even as production rose: $113.7 million for the quarter against $140.9 million in the same period of 2025.
• CleanSpark grew its holdings through the same route, from 10,428 bitcoin at September 30, 2025 to 12,205 at June 30, 2026.

Operating Companies That Hold Bitcoin Without Mining It

• Tesla’s disclosure is the shortest in the group: the majority of its digital assets were comprised of 11,509 units of Bitcoin held at an acquisition cost of $386 million as of June 30, 2026, and December 31, 2025.
• Block accounts for its coins as an indefinite-lived intangible asset and holds them for long-term investment purposes, separately from bitcoin held for the facilitation of customer sales and purchases on Cash App.
• On its own investment position, the Company states it has ownership of and control over its bitcoin, which it accounts for as an indefinite-lived intangible asset.
• Coinbase carries a broader crypto position: $1.468 billion of crypto assets held for investment as of June 30, 2026, against $1.999 billion at December 31, 2025.
• Coinbase also books crypto it does not own outright, including 22,609 bitcoin and 24,965 ethereum recognized as crypto assets held as collateral as of June 30, 2026.

Source: SEC Form 10-Q filings, 2026

The accounting treatment matters as much as the coin count when comparing bitcoin treasury companies. A holding carried at fair value moves through earnings every quarter, which is why the same market drawdown produces a remeasurement loss at one filer and a quieter footnote at another. Regulatory treatment of these disclosures continues to evolve alongside the wider SEC crypto enforcement data that shapes what issuers must publish and when.

Metaplanet and the Asia-Pacific Treasury Cohort

• Metaplanet trades in Tokyo as TSE: 3350 and described itself as the world’s third-largest corporate Bitcoin holder with 43,000 BTC on August 18, 2026.
• Its US entry point is an existing Nasdaq listing rather than a new float: Super League Enterprise (Nasdaq: SLE) is to be renamed Superplanet, Inc. and become Metaplanet’s US Bitcoin treasury platform.
• The seed contribution is 2,100 Bitcoin, contributed through Metaplanet Holdings, Inc., its wholly owned US subsidiary.
• The structure carries a lock-up: a five-year Metaplanet lock-up that the companies framed as reflecting long-term commitment.
• Twenty One Capital sits in the same purpose-built category on the US side, and it describes itself as a Bitcoin-native public company bringing together Bitcoin treasury, financial services, mining and capital markets into a single operating platform.
• Ownership of that vehicle changed hands at the top, when Tether International, S.A. de C.V., Twenty One’s controlling shareholder, announced it had acquired SoftBank Group’s stake in XXI.

Source: Issuer press releases and SEC filings, 2026

mNAV, Premium to Net Asset Value and How Raises Are Funded

• SharpLink’s June raise is the clearest disclosed example of the mechanic: a $75.0 million registered direct offering completed at a premium to its net asset value.
• The pricing detail sits in the same filing: 10,013,351 shares of common stock and accompanying warrants at a combined purchase price of $7.49 per share and warrant.
• Strategy funds obligations from a dedicated cash buffer rather than from equity alone, and its USD Reserve is intended to support payment of dividends on preferred stock and interest on outstanding indebtedness, and stood at $2.55 billion as of July 5, 2026.
• That buffer is replenished in part through sales, since proceeds from the bitcoin sales were used to fund payment of distributions on preferred stock and to replenish the portion of the USD reserve used for this purpose.
• Equity issuance is the primary funding route. In the second quarter of 2026, Strategy purchased bitcoin using $5.46 billion of the net proceeds from ATM sales of STRC Stock and $0.96 billion of the net proceeds from ATM sales of class A common stock.

Source: SEC filings and issuer press releases, 2026

What is mNAV for a bitcoin treasury company?

mNAV is shorthand for the ratio between a treasury company’s market capitalization and the net asset value of the crypto it holds. A ratio above one is a premium, below one a discount. The mechanic matters because an issuer selling shares above net asset value raises more crypto per share issued, which is the structure SharpLink’s June offering described.

Ethereum Treasury Vehicles as the Comparison Cohort

• SharpLink’s ether position is the largest single disclosed non-bitcoin treasury in the group at approximately 888,938 ETH as of August 3, 2026.
• The June quarter-end figure was approximately 886,881 ETH as of June 30, 2026, so the position grew by roughly two thousand coins over five weeks.
• Valued on a US GAAP basis, SharpLink’s crypto assets totaled approximately $1.4 billion as of June 30, 2026.
• Coinbase’s ether exposure runs through a different mechanism: 24,965 ethereum recognized as crypto assets held as collateral, with a cost basis of $58.2 million and a fair value of $39.2 million as of June 30, 2026.
• That collateral pool is bitcoin-weighted: 22,609 bitcoin sat alongside it at a fair value of $1.323 billion.

The ether cohort is younger and thinner than the bitcoin one, and it rests on a different funding argument: staking yield gives an ether treasury an income line a bitcoin treasury does not have. Coinbase’s collateral lines show a second route into the same asset. Anyone tracking the fund-wrapper version of this exposure can compare it against Ethereum ETF statistics.

Source: SEC Form 8-K and Form 10-Q filings, 2026

How Concentrated Corporate Bitcoin Holdings Really Are

• No filing publishes an audited total for corporate bitcoin. The honest version of the category number is a sum of disclosed positions with their as-of dates attached, not a single figure presented as a market total.
• Summing the seven filers above gives 968,788 bitcoin across positions dated between June 30 and August 18, 2026.
• Strategy accounts for 87.3% of that total, which makes the category arithmetic a single-issuer story with a long tail attached.
• Removing Strategy leaves 122,788 bitcoin spread across the remaining six filers.
• Share of circulating supply is a different question, and these filings do not answer it. None of the sources here states a supply figure, so any percentage of total bitcoin would be an estimate rather than a disclosure. The separate question of how many bitcoins exist is answered on-chain rather than in a 10-Q.

By the numbers: Seven public filers disclosed 968,788 bitcoin between June 30 and August 18, 2026, and 846,000 of them sat with Strategy on June 30. Concentration at that level means one issuer’s buying and selling decisions set the direction of every category-level chart.

Concentration also shapes how comparable this cohort is to other pooled bitcoin holders. A fund wrapper reports daily, and a treasury company reports quarterly, so the two data sets move at different speeds even when the underlying asset is identical. The Bitcoin ETF flow data updates far more often than any filing schedule allows, and BlackRock’s bitcoin position is disclosed on a cadence no corporate treasury matches.

How many public companies hold Bitcoin?

No regulator publishes a count of bitcoin treasury companies, and no single filing produces one. What the disclosures support is a tracked set rather than a census: the seven filers above each stated a specific bitcoin position in their own filing or press release, and several more, including Twenty One Capital, describe bitcoin treasury operations without stating a holding in the documents cited here.

Broader numbers circulating online come from aggregator trackers compiling third-party estimates, and those totals cannot be reconciled to a filing line by line. We publish what the filings state and name the gap where they do not. Governance-driven holders sit outside the corporate perimeter entirely, as the DAO treasury holdings data shows.

Conclusion

Bitcoin treasury companies this year amount to one very large position surrounded by a varied group of smaller ones. Strategy’s 846,000 bitcoin at an average purchase price of $75,578 dwarf every other disclosure, while the miners around it carry coins at very different entry prices, from CleanSpark’s $90,188 cost basis to Tesla’s $386 million book. The receivable and collateral lines inside MARA’s and Riot’s balances add a layer that a coin count alone hides.

The lines worth watching next are cost basis rather than holdings, since those reveal whether a treasury is compounding or absorbing losses. Metaplanet’s Tokyo listing and its Nasdaq platform point to the same reporting question arriving in a second jurisdiction with a different filing calendar.