Corporate Bitcoin Treasuries Triple Mining Output Over Six Months
In a remarkable shift, corporate digital asset treasuries (DATs) have accumulated a net total of 260,000 Bitcoin in the last half-year, vastly exceeding the 82,000 BTC mined during the same timeframe. According to on-chain analytics firm Glassnode, Bitcoin treasuries held by both public and private entities have surged from approximately 854,000 BTC to 1.11 million BTC. This represents an increase of about 260,000 BTC, equivalent to $25 billion at current market rates, or an average of 43,000 BTC monthly.
Glassnode highlights this growth as a sign of "the steady expansion of corporate balance-sheet exposure to Bitcoin." During this period, Bitcoin miners produced approximately 450 BTC daily, totaling around 82,000 coins, suggesting a positive supply-demand dynamic.
Strategy Dominates Corporate BTC Holdings
The majority of the 1.2 million BTC held in corporate treasuries is controlled by Michael Saylor’s Strategy, which possesses 687,410 BTC, or 60% of the total, valued at approximately $65.5 billion. After a brief pause, the company resumed its acquisitions, adding 13,627 BTC between January 5 and 11, marking its largest purchase since July.
MARA Holdings follows as the second-largest corporate Bitcoin DAT with 53,250 BTC, valued at around $5 billion, according to Bitcoin Treasuries.
Bitcoin ETFs and Market Dynamics
Spot Bitcoin exchange-traded funds (ETFs) might further influence this supply-demand equation if the inflow trend persists. Bitwise's chief investment officer Matt Hougan noted that if ETF demand continues, Bitcoin's price could experience a significant rise. Since the debut of ETFs in January 2024, they have acquired more than the new supply of Bitcoin, offset by existing holders selling their assets.
In the US, spot BTC ETFs saw nearly $22 billion in net inflows in 2025, with BlackRock’s iShares Bitcoin Trust (IBIT) capturing a substantial share. However, 2026 has started with mixed results, showing $1.9 billion in inflows and $1.38 billion in outflows, leading to a net inflow of just over $500 million.