Top 10 Public Companies Holding the Most Bitcoin in 2025

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In recent years, the perception of Bitcoin as a corporate treasury asset has undergone a dramatic transformation. Once dismissed as too volatile and speculative for serious enterprises, Bitcoin is now being embraced by major public companies worldwide as a strategic reserve. From software firms to electric vehicle manufacturers and dedicated mining operations, organizations are increasingly allocating capital to Bitcoin, signaling growing institutional confidence in its long-term value.

According to data from BitcoinTreasuries.org, publicly traded companies now collectively hold nearly 1.5% of Bitcoin’s total 21 million supply—a testament to its rising legitimacy in mainstream finance. This shift didn’t happen overnight. The turning point came in August and September 2020, when MicroStrategy made headlines by investing $425 million in Bitcoin, opening the floodgates for other institutions to follow.

Today, these forward-thinking companies aren’t just holding Bitcoin—they’re actively expanding their positions, integrating it into business models, and reshaping investor expectations. Below are the top 10 public companies with the largest Bitcoin holdings as of mid-2025.

1. MicroStrategy: The Bitcoin Standard-Bearer

Bitcoin Holdings (as of May 2025): 214,400 BTC (~$14.8B)

MicroStrategy stands head and shoulders above all others in corporate Bitcoin adoption. What began as a bold financial strategy has evolved into a full-scale institutional embrace of digital assets. Under CEO Michael Saylor’s leadership, the company has transformed itself from a business intelligence provider into the world’s largest corporate holder of Bitcoin.

Saylor famously stated that the company was buying Bitcoin at a rate of $1,000 per second during peak accumulation periods. In Q1 2024, he emphasized that MicroStrategy’s “Bitcoin strategy” had outperformed traditional enterprise software peers by 10x to 30x in shareholder returns.

Beyond corporate holdings, Saylor is also one of the most prominent individual Bitcoin investors, personally owning an estimated 17,732 BTC—worth over $1.2 billion. Remarkably, this marks a complete reversal from his 2013 stance, when he declared Bitcoin had "limited lifespan."

“We are in the early innings of institutional adoption of Bitcoin as a digital asset,” Saylor said in 2024. “Bitcoin won’t compete with other cryptos—it will compete with gold, art, real estate, and bonds for wealth preservation.”

👉 Discover how leading institutions are reshaping their treasuries with digital assets.

2. Marathon Digital Holdings Inc.

Bitcoin Holdings (as of May 2024): 17,631 BTC (~$1.23B)

As a major player in North American Bitcoin mining, Marathon Digital not only earns BTC through mining but also holds it long-term. The company operates around 240,000 miners with a total hashrate capacity of 29.9 EH/s, making it one of the continent's largest mining operations.

Marathon has aggressively expanded post-2024 halving to offset reduced block rewards. However, operational challenges—including equipment failures and weather-related constraints—led to missed revenue targets in Q1 2024.

Despite setbacks, Marathon remains committed to scaling efficiently and sustainably. Its goal is to double mining operations by end-of-year, focusing on low-cost energy sources.

3. Tesla

Bitcoin Holdings (as of June 2024): 9,720 BTC (~$677M)

Tesla made waves in February 2021 when it disclosed a $1.5 billion investment in Bitcoin—an unprecedented move for an automaker. Elon Musk further fueled excitement by briefly allowing Bitcoin payments for vehicles before suspending them due to environmental concerns over fossil fuel usage in mining.

In July 2022, Tesla sold about 75% of its holdings for $936 million, citing liquidity needs amid pandemic uncertainties. Musk clarified this wasn’t a rejection of Bitcoin, leaving the door open for future re-acquisition.

As of Q1 2024, Tesla maintains its remaining position without further changes. Meanwhile, the company continues supporting Dogecoin for select merchandise purchases.

4. Hut 8 Mining Corp

Bitcoin Holdings (as of June 2024): 9,109 BTC (~$644M)

Hut 8 has positioned itself at the intersection of energy infrastructure and digital asset creation. After merging with US Bitcoin Corp in late 2023, the combined entity operates mining facilities across Alberta, Texas, and New York with 7.5 EH/s of self-mined capacity.

The company leverages its BTC reserves through yield-bearing accounts with top-tier digital asset prime brokers, generating fiat income while retaining long-term upside.

Hut 8 reported $51.7 million in revenue for Q1 2024—a 231% year-over-year increase—driven by improved efficiency and higher BTC prices.

5. Riot Platforms, Inc.

Bitcoin Holdings (as of June 2024): 9,084 BTC (~$643M)

Riot Platforms is one of North America’s largest listed Bitcoin miners by development capacity. Its flagship facility in Rockdale, Texas—a one-gigawatt powerhouse acquired for $650 million in 2021—solidified its industry leadership.

Despite criticism from short-seller Kerrisdale Capital in mid-2024 calling mining “one of the dumbest business models,” Riot’s stock rebounded quickly. The company continues expanding into Navarro County and adapting to post-halving economics.

CEO Jason Les remains bullish: “Even with lower margins, there’s still massive opportunity in U.S.-based mining.”

6. Coinbase Global, Inc.

Bitcoin Holdings (as of June 2024): ~9,000 BTC (~$642M)

As the most recognizable name in cryptocurrency exchanges, Coinbase holds significant BTC on its balance sheet—not just for trading but as part of its treasury strategy.

While it started with $230 million in Bitcoin back in early 2021, its current holdings reflect both strategic accumulation and appreciation in value. Coinbase also plays a key role in managing spot Bitcoin ETFs approved by the SEC in January 2024.

👉 See how major financial platforms are integrating Bitcoin into mainstream investing.

7. Galaxy Digital Holdings

Bitcoin Holdings (as of June 2024): 8,100 BTC (~$578M)

Founded by Michael Novogratz in 2018, Galaxy Digital operates as a crypto-native merchant bank. Though it reduced its BTC holdings from a peak of 16,400 BTC in 2022, rising prices mean its current stash is more valuable than ever.

Novogratz remains a vocal advocate, predicting Bitcoin would never fall below $50,000 again and forecasting a $100,000 price target by year-end 2025.

Galaxy is also active in ETF management and venture investments across the blockchain ecosystem.

8. Block, Inc.

Bitcoin Holdings (as of June 2024): 8,027 BTC (~$573M)

Formerly known as Square, Block has been deeply involved in Bitcoin since its early days. CEO Jack Dorsey is a well-known proponent who runs his own Bitcoin node.

Since investing $50 million in BTC in October 2020, Block has expanded its commitment—launching Cash App features that let businesses auto-convert sales into Bitcoin and pledging to reinvest 10% of profits from Bitcoin services back into BTC via dollar-cost averaging.

The rebrand from Square to Block was a clear nod to blockchain technology and Dorsey’s vision for an open financial system.

9. CleanSpark

Bitcoin Holdings (as of June 2024): 6,154 BTC (~$439M)

CleanSpark exemplifies agility in post-halving mining economics. It acquired three Mississippi mining sites for $19.8 million before the halving, boosting capacity by 2.4 EH/s. Additional expansions in Georgia and planned growth in Wyoming highlight its aggressive scaling strategy.

In May 2024 alone, CleanSpark mined 417 BTC—the highest output among U.S.-listed miners that month—outperforming industry expectations after the halving.

10. Bitcoin Group SE

Bitcoin Holdings (as of June 2024): 3,830 BTC (~$275M)

Based in Germany, Bitcoin Group SE is a venture firm with stakes in Bitcoin.de and Futurum Bank—the latter branded as Germany’s first “crypto bank.” Following regulatory changes allowing banks to custody crypto assets, the merger created new opportunities for institutional crypto adoption.

CEO Marco Bodewein emphasizes the “high return and secure nature” of digital assets for institutional clients.

Frequently Asked Questions (FAQ)

Q: Why are companies buying Bitcoin instead of holding cash or bonds?
A: Many executives view Bitcoin as a superior store of value due to its scarcity (capped at 21 million) and resistance to inflation—especially compared to fiat currencies subject to monetary expansion.

Q: Is holding Bitcoin risky for corporations?
A: While price volatility exists, companies like MicroStrategy argue that long-term appreciation potential outweighs short-term fluctuations—especially when hedging against currency devaluation.

Q: Does owning Bitcoin affect a company’s stock performance?
A: Evidence suggests strong correlation between Bitcoin holdings and stock valuation spikes during bull markets—though investor sentiment can shift rapidly based on macroeconomic factors.

Q: Are these companies mining or just buying Bitcoin?
A: Some—like Marathon and Riot—are active miners earning BTC through computation. Others—including Tesla and MicroStrategy—are pure buyers using treasury reserves.

Q: Could more companies adopt Bitcoin in the future?
A: Yes—especially if regulatory clarity improves and accounting standards evolve to better reflect digital asset valuations on balance sheets.

Q: How do I invest in these Bitcoin-holding companies?
A: Most trade on major exchanges like NASDAQ under tickers MSTR, TSLA, RIOT, MARA, COIN, etc.—offering indirect exposure to Bitcoin without direct ownership.

👉 Explore investment opportunities across innovative digital asset leaders today.

Core Keywords:

These organizations represent the vanguard of institutional Bitcoin integration—blending innovation with financial strategy to redefine modern treasury management in the digital age.