US Stock Next Technology Soars Over 700% Due to Heavy Bitcoin Holdings in Q1

On Friday afternoon, U.S. stocks of Next Technology Holding Inc. skyrocketed by 777% to $2.7. This was because the company significantly increased its Bitcoin holdings in the first quarter. According to the information disclosed by the company, as of March 31, 2025 (it should be noted that there may be a mistake in the date here as 2025 is in the future and usually such reports are based on past or current dates), it held approximately 5,833 Bitcoins, with a book value of $481.7 million. At the end of 2024, it only held 833 Bitcoins. This growth is mainly due to a significant cryptocurrency acquisition in March, which was financed through the issuance of stocks and warrants. Next Technology's core business is focused on software development and Bitcoin investment. The company also reported that its first-quarter net revenue was $193.4 million, almost all of which came from unrealized gains on digital assets.