Next Technology Holding (NXTT) announced that its board of directors has authorized the potential sale or collateralization of approximately 5,833 Bitcoins, a move valued at around $450 million. This decision, made after market close on October 30, 2023, comes in response to growing concerns over cybersecurity incidents, including the recent Binance hack, and potential future threats such as quantum computing.
The company stated that no Bitcoin has been sold yet, and any transaction is not guaranteed. The authority to execute these transactions, including determining the timing, price, quantity, and method, rests with CEO Weihong Liu. Potential methods include direct sales on exchanges, over-the-counter sales, or using the Bitcoin as collateral for financing.
This authorization follows a period of financial strain for NXTT, which reported a net loss of $135.6 million in the first half of the year, largely due to unrealized depreciation in its Bitcoin holdings. As of June 30, the company had $159 million in cash on hand, with an operating cash outflow of $207 million in the first half of the year. NXTT has indicated that its existing resources are sufficient to support operations for the next 12 months.
The potential divestment or leverage of its Bitcoin holdings is framed by NXTT as a strategic response to evolving risks. The recent Binance hack highlighted exchange vulnerabilities, while the looming threat of quantum computing raises long-term security questions for digital assets. The company’s interpretation suggests this move could be a strategic effort to de-risk its balance sheet or secure capital without equity dilution.
NXTT’s Bitcoin holdings are primarily stored with an institutional-grade custodian in Japan, according to company filings. However, the company has not disclosed specific wallet addresses. The auditor reported the year-end balance with the custodian, and the auditor switched custodians from JWF Assurance to CHI-LLTC on January 21, 2026.
In its recent history, NXTT faced a delisting notice from Nasdaq on August 25, 2025, which was later withdrawn on September 29, 2025. The company has also denied claims in multiple lawsuits related to loan may provide and oral loans.
The company has not specified how the proceeds from any potential Bitcoin sale would be utilized. The authorization to sell or collateralize Bitcoin represents a proactive measure by NXTT to navigate the complex and evolving landscape of digital asset management, balancing potential risks with strategic financial objectives. The actual execution of any transaction remains subject to the CEO’s discretion and market conditions.
Why This Matters
The materials describe a narrow update: The board of directors of Next Technology Holding (NXTT) has authorized the potential sale or collateralization of approximately 5,833 Bitcoins, valued at around $450 million. Whether Next Technology Holding (NXTT) will actually sell or collateralize any of its Bitcoins.
Broader Context
Source materials place the factual news in this context: Next Technology Holding (NXTT) is a Nasdaq-listed company.
