Treasuries Weekly — December 12, 2025: 11,170 BTC · 139,573 ETH · 4,113 SOL from 5 entities

Section 01 The Week

Five companies deployed $1.45 billion across bitcoin, ethereum, and solana this week, with Strategy (MSTR) accounting for 66 percent of the dollar volume through a $963 million acquisition of 10,624 BTC on December 8. BitMine Immersion Technologies (BMNR) followed with a $432.6 million ethereum purchase of 138,452 ETH, also on December 8. Smaller positions materialized in solana and additional ethereum: Lion Group Holding (LGHL) acquired 4,113 SOL for $561,137, while Canaan (CAN) added 1,121 ETH for $3.7 million. Cango (CANG) rounded out the week with 546 BTC for $50.2 million. No new corporate stackers entered the cohort.

Filings Recent Purchases

Company	Amount	USD	Date
Lion Group Holding (LGHL)	4,113 SOL	$561.1K	Dec 11
Canaan (CAN)	1,121 ETH	$3.7M	Dec 10
BitMine Immersion Technologies (BMNR)	138,452 ETH	$432.6M	Dec 8
Strategy (MSTR)	10,624 BTC	$963.0M	Dec 8
Cango (CANG)	546 BTC	$50.2M	Dec 5

Section 02 Notable Filings

Strategy filed its BTC acquisition in an 8-K (https://www.sec.gov/Archives/edgar/data/1050446/000119312525310607/mstr-20251117.htm), now holding 818,334 BTC — the largest position across all public companies and ETFs tracked. BitMine's 138,452 ETH purchase and Lion Group's solana entry lack filed disclosures in the bundle; readers tracking ETH and SOL treasury adoption may find color in each company's next quarterly or current-report filing. Canaan's ethereum position also remains unfiled in the dataset.

Leaderboard Top Five

#	Company	Holdings	Value
1	Strategy (MSTR)	818,334 BTC	$64.5B
2	BlackRock iShares Bitcoin Trust (IBIT)	811,982 BTC	$64.0B
3	United States (GOV-US)	328,372 BTC	$25.9B
4	China (GOV-CN)	194,000 BTC	$15.3B
5	Fidelity Wise Origin Bitcoin Fund (FBTC)	187,975 BTC	$14.8B

Section 03 One Chart

Entity	Share of top-five concentration	Holdings
Strategy (MSTR)		818,334 BTC
BlackRock iShares Bitcoin Trust (IBIT)		811,982 BTC
United States (GOV-US)		328,372 BTC
China (GOV-CN)		194,000 BTC
Fidelity Wise Origin Bitcoin Fund (FBTC)		187,975 BTC

BTC treasury activity concentrated in two filers (Strategy and Cango) totaling 11,170 BTC; ETH spread across two buyers (BitMine and Canaan) totaling 139,573 ETH; SOL represented by a single entrant (Lion Group) with 4,113 SOL. By USD value, BTC and ETH each commanded roughly 70 percent and 30 percent of weekly deployment, while SOL represented negligible dollar volume despite token-unit count. Corporate treasuries continue to privilege bitcoin's scale over alternative-asset adoption.

You're reading Treasuries Weekly — a briefing on corporate BTC, ETH, and SOL balance-sheet adoption from CorpStacking.
Editorial is not investment advice. Data sourced from SEC EDGAR, CoinGecko, and primary corporate filings.

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