Top Publicly Traded Companies Investing in Cryptocurrency in 2025

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The world of finance is undergoing a seismic shift as more publicly traded companies integrate digital assets into their corporate strategies. From Bitcoin treasury holdings to strategic Web3 investments, corporations across the U.S. and Hong Kong are embracing blockchain technology not just as a speculative play, but as a core component of long-term growth and diversification.

This article explores the leading上市公司 (publicly listed companies) that are actively investing in cryptocurrency — either by holding Bitcoin on their balance sheets, engaging in mining operations, launching Web3 products, or funding innovative blockchain ventures.

U.S. Publicly Traded Companies Leading the Bitcoin Charge

As institutional adoption accelerates, several American firms have emerged as pioneers in corporate crypto investment. These companies are not only holding significant amounts of Bitcoin but are also shaping market sentiment through their bold financial strategies.

1. MicroStrategy (MSTR)

MicroStrategy stands at the forefront of corporate Bitcoin adoption. With 158,245 BTC in its treasury — representing 0.754% of Bitcoin’s total supply — the company has effectively become a Bitcoin proxy for investors. Founded in 1989 by Michael J. Saylor, MicroStrategy transitioned from a business intelligence firm into the world’s largest corporate holder of Bitcoin.

Its average acquisition cost sits at **$29,556 per BTC**, with an initial investment totaling $4.68 billion. Despite market volatility, MicroStrategy continues to signal strong confidence in Bitcoin as a long-term store of value.

👉 Discover how institutional investors are reshaping digital asset markets.

2. Marathon Digital Holdings (MARA)

Marathon Digital is a major player in the Bitcoin mining ecosystem. Headquartered in Las Vegas and led by CEO Fred Thiel since 2021, the company holds 13,286 BTC — approximately 0.063% of total circulation.

Marathon acquired its holdings at an average price of $14,247 per BTC**, with its portfolio now valued at over **$3.65 billion. Beyond mining, Marathon contributes to network security and decentralization, reinforcing its role as a key infrastructure provider in the crypto economy.

3. Galaxy Digital Holdings (GLXY)

Founded by former hedge fund manager Michael Novogratz, Galaxy Digital operates across multiple sectors of the digital asset space — including trading, asset management, and investment banking. The firm currently holds 12,545 BTC, worth around $3.45 billion.

Though exact purchase prices aren’t disclosed, Galaxy’s diversified approach positions it as both a strategic investor and financial services bridge between traditional finance (TradFi) and decentralized finance (DeFi).

4. Tesla, Inc. (TSLA)

Elon Musk’s Tesla made headlines in 2021 when it announced a **$1.5 billion investment in Bitcoin**. While the company later sold part of its holdings, it still retains **10,500 BTC**, originally purchased for $336 million.

With an average buy-in of $32,000 per BTC, Tesla’s continued ownership signals underlying confidence in digital currencies despite regulatory scrutiny and environmental debates around proof-of-work mining.

5. Coinbase Global (COIN)

As one of the most recognized cryptocurrency exchange platforms, Coinbase holds 9,182 BTC in cold storage for operational and strategic purposes. Its average acquisition cost is $22,609 per BTC**, with the current value exceeding **$2.5 billion.

Coinbase not only serves millions of retail users but also provides institutional-grade custody solutions — making it a critical node in the global crypto infrastructure.

6. Hut 8 Mining Corp (HUT)

This Canadian-based tech company focuses exclusively on Bitcoin mining and data innovation. Hut 8 currently owns 8,289 BTC, valued at approximately $2.3 billion.

While initial investment data isn't public, Hut 8's commitment to sustainable mining practices and green energy aligns with growing ESG concerns in the industry.

7. Block Inc. (SQ)

Formerly Square, Block Inc., co-founded by Jack Dorsey, has long been a proponent of open financial systems. The company holds 8,027 BTC at an average price of $27,416**, with a total portfolio value near **$2.2 billion.

Block’s ecosystem includes Cash App — one of the most popular peer-to-peer payment platforms in the U.S., which has significantly driven retail adoption of Bitcoin.

8. Riot Platforms (RIOT)

Riot Platforms operates large-scale Bitcoin mining facilities in Texas and is committed to expanding its hash rate capacity. It holds 7,265 BTC, worth about $2 billion.

As a pure-play mining stock, RIOT offers investors direct exposure to Bitcoin production and network growth without owning the asset directly.

9. Hive Blockchain (HIVE)

Hive Blockchain leverages renewable energy sources to mine both Bitcoin and Ethereum. With 2,332 BTC in reserves — valued at $640 million — Hive demonstrates how environmentally conscious operations can coexist with profitable mining.

10. Nexon Co., Ltd.

Though headquartered in Japan and incorporated in Korea, Nexon is publicly traded and holds 1,717 BTC purchased for roughly $1 billion**, implying an unusually high average cost of **$58,277 per BTC.

Despite this premium pricing, Nexon’s move reflects growing interest among Asian gaming giants in digital asset integration.

Hong Kong Listed Companies Embracing Web3 Innovation

Hong Kong’s progressive regulatory stance toward virtual assets has catalyzed a wave of Web3 adoption among local listed firms. From stablecoin issuance to strategic fund allocations, these companies are leveraging blockchain to diversify revenue and future-proof their businesses.

1. Meitu (1357.HK)

Meitu made history as the first Hong Kong-listed company to invest heavily in crypto, purchasing $40 million worth of BTC and ETH in March 2021. Although it faced losses during the bear market, it recovered nearly all losses by mid-2023.

Chairman Cai Wensheng remains bullish on real-world asset (RWA) tokenization and Web3 development in Asia.

2. Boyaa Interactive (0434.HK)

Boyaa Interactive has fully embraced Web3 transformation. It allocated up to $100 million for crypto purchases, including BTC, ETH, and USDT. As of May 2024:

These investments contributed to a staggering 1130% year-on-year profit increase in Q1 2024. Additionally, Boyaa has invested in multiple Web3 projects and formed strategic partnerships focused on metaverse and NFT infrastructure.

👉 See how Web3 is transforming traditional business models today.

3. Coolpad Group (2369.HK)

Once a struggling smartphone maker, Coolpad is reinventing itself through crypto. Its subsidiary Digital Tech invested $27.86 million in:

Coolpad also plans to spin off its mining arm, Coolbit Technologies Limited, for a potential Nasdaq listing — signaling serious ambitions in the digital asset space.

4. ZhongAn Online (6060.HK)

ZhongAn Bank is positioning itself at the intersection of traditional banking and Web3 innovation. It partnered with HashKey and OSL to issue Hong Kong’s first regulated stablecoin and provides banking services to over 80 Web3 companies, including OKX Hong Kong.

It plans to launch virtual asset trading services for retail clients — tapping into Hong Kong’s newly opened retail crypto market.

5–14: Other Notable HK Players

Other forward-thinking Hong Kong-listed companies include:

Frequently Asked Questions

Q: Why are public companies investing in Bitcoin?

A: Companies view Bitcoin as a hedge against inflation, a long-term store of value, and a way to diversify corporate treasuries beyond traditional cash equivalents.

Q: Is holding cryptocurrency risky for public firms?

A: Yes — price volatility poses financial reporting challenges and investor concerns. However, many firms adopt dollar-cost averaging or hold for strategic positioning rather than short-term gains.

Q: Can Hong Kong-listed companies legally hold crypto?

A: Yes — under Hong Kong’s updated regulatory framework introduced in 2023, licensed platforms allow institutional and retail participation in virtual assets under clear compliance guidelines.

Q: How does crypto investment affect stock performance?

A: Stocks like MARA, RIOT, and MSTR often see increased trading volume and volatility correlated with Bitcoin price movements — making them indirect proxies for crypto exposure.

Q: Are there tax implications for corporate crypto holdings?

A: Yes — gains from disposal may be subject to capital gains taxes depending on jurisdiction. Firms must also comply with accounting standards like IFRS or GAAP for fair value reporting.

Q: What’s the difference between holding crypto vs mining it?

A: Holding involves direct purchase and storage; mining requires operating hardware to validate transactions and earn block rewards — offering operational revenue but higher overhead costs.

Final Thoughts: The Future Is On-Chain

Corporate involvement in cryptocurrency is no longer experimental — it's strategic. Whether through direct holdings like MicroStrategy or ecosystem building like Boyaa Interactive, public companies are positioning themselves at the forefront of the digital asset revolution.

As regulations mature and infrastructure strengthens, expect more firms to follow suit — integrating blockchain into core operations, launching tokenized assets, or launching Web3-native products.

👉 Stay ahead of the curve with insights from the evolving digital economy.

The convergence of public markets and decentralized technology marks a new era of innovation — where balance sheets go on-chain, and forward-thinking companies lead the charge.