Public Firms Hold Over 1 Million BTC, Strategy Leads by Wide Margin

As of July 25, 2026, ten public companies collectively hold over 1 million BTC. Strategy (formerly MicroStrategy) leads by a wide margin with 843,775 BTC.

The company's bitcoin holdings continue to grow, but its stock has fallen 40% in 2026 due to capital management moves and market conditions.

In contrast, bitcoin mining companies like Riot Platforms and Cleanspark have seen strong stock gains this year, benefiting from lower production costs and diversified AI infrastructure businesses.

The divergence highlights investor preference for companies that mine bitcoin over those that only hold it, as miners control production costs and have more stable revenue streams.