Corporate Bitcoin Buying Surges, Outpacing Mining 3-to-1

Corporate Bitcoin buying has outpaced mining by a 3-to-1 ratio, with treasuries adding 260,000 BTC in six months. Holdings now total about 1.11 million BTC, led by Strategy with 687,410 BTC.

Corporate Bitcoin treasuries have accumulated 260,000 BTC over the past six months, three times the amount mined in the same period (about 82,000 BTC). This surge has increased corporate holdings from around 854,000 BTC to approximately 1.11 million BTC, marking a 30% rise. The largest corporate holder, Strategy, possesses 687,410 BTC, representing 60% of all corporate Bitcoin and valued at about $65.5 billion. MARA Holdings follows with 53,250 BTC. Spot Bitcoin ETFs have also contributed to demand, with US spot Bitcoin ETFs recording nearly $22 billion in net inflows during 2025 and consistently buying more than 100% of new supply since their debut in January 2024. The start of 2026 saw mixed ETF flows, with net aggregate inflows just over $500 million. Existing holders have been willing sellers, preventing sharp price increases, but if this supply diminishes, the demand imbalance could become more pronounced. This concentrated accumulation among a few companies marks a significant shift in Bitcoin's supply dynamics.