When Onfolio Holdings secured $300 million in convertible bond financing to build a multi-asset crypto treasury, and HIVE Blockchain disclosed holding 4,125 BTC while continuing to increase its holdings, yesterday the global listed companies' crypto-related financing and investments reached $660 million in a single day. The enterprise-level allocation is shifting from mere asset accumulation to a systematic operation of "financing + allocation + returns."
- Treasury Strategy Upgrade: Onfolio's $300 Million Multi-Asset Allocation
Onfolio Holdings (NASDAQ:ONFO) achieved a significant breakthrough in its [strategic financing]:
- Secured $300 million through convertible notes from U.S. institutional investors.
- The new funds will be used to establish a multi-asset crypto treasury, initially building positions in three mainstream assets: BTC, ETH, and SOL.
- Plans to generate stable returns through staking, strengthen the balance sheet, and support operational expansion.
- Marks a shift in institutional allocation from single assets to diversified return strategies.
- New SPAC Channel: Rigel Resource's $250 Million Mining Layout
Rigel Resource Acquisition Corp. (NYSE:RRAC) completed a $250 million IPO:
- As a SPAC company, it aims to acquire companies related to mining, metals, and digital asset infrastructure.
- Clearly includes Bitcoin mining and on-chain computing power as investment directions.
- Provides a new listing channel for traditional capital to enter the crypto mining sector.
- Mining Companies' Holding Strategy: Transition from Production to Reserves
HIVE Blockchain Technologies (TSXV:HIVE) Q3 2025 financial report shows:
- Holds 4,125 BTC, an 8% quarterly increase.
- Mined 875 BTC this quarter, with 65% allocated to long-term reserves.
- Indicates a shift in mining companies from pure production and sales to a "production + reserves" composite strategy.
Canaan Inc. (NASDAQ:CAN) also reported impressive results:
- Revenue of $150.5 million, a year-on-year increase of 104.4%.
- Bitcoin mining revenue of $30.6 million, a year-on-year increase of 241%.
- Holds 1,610 BTC and 3,950 ETH, with asset reserves continuously expanding.
- Diversification of Financing Models: From Equity to Stablecoins
Nocera, Inc. (NASDAQ:NCRA) reached a $120 million equity financing agreement with institutional investors:
- Funds will be used to expand the company's stablecoin reserves.
- Advances its digital asset treasury strategy.
- Indicates that institutions are beginning to incorporate stablecoins into treasury management.
- Trend Insights: Operationalization of Treasuries and Professionalization of Financing
Treasury functionality upgrade: Shifting from passive holding to active operation, obtaining returns through strategies like staking, enhancing capital efficiency.
Professionalization of financing tools: Parallel use of various tools such as convertible notes, SPACs, and equity financing, providing customized funding solutions for companies at different stages.
Accelerated transformation of mining companies: Transitioning from pure computing power providers to "computing power + assets" comprehensive operators, with holding assets becoming a core strategy.
According to industry analysis, cases of fundraising for crypto allocation through professional financing tools are expected to grow by 150% quarter-on-quarter by Q4 2025, with deepening institutional participation.
From Onfolio's $300 million multi-asset treasury to mining companies allocating 65% of their output to reserves, the $660 million single-day scale reflects a profound shift in corporate crypto treasuries from "allocation" to "operation." Crypto assets are evolving from mere numbers on balance sheets to core tools for corporate capital operations.
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