Metaplanet Tops Tesla in BTC, Strategy Pauses Buys, CoreWeave Strikes $9B Deal, SEC Speeds Up Solana ETFs

Metaplanet Adds 2,204 Bitcoin for $237M, Overtakes Tesla and CleanSpark in Corporate Holdings

Japanese Bitcoin treasury firm Metaplanet has acquired another 2,204 BTC for $237 million at an average price of roughly $107,700 per coin, bringing its total holdings to 15,555 BTC purchased at an average of $99,985. This makes Metaplanet the fifth-largest corporate Bitcoin holder, surpassing Tesla’s 11,509 BTC and CleanSpark’s 12,502 BTC.

The purchase follows recent large-scale buys by other corporate players, including Strategy (formerly MicroStrategy) adding 4,980 BTC and ProCap making its first purchase of 3,724 BTC. Meanwhile, Semler Scientific plans to dramatically scale its holdings to 105,000 BTC.

Strategy Pauses Bitcoin Buys After Record Q2 Gains, Still Holds Over 597,000 BTC Worth $65B

Bitcoin treasury firm Strategy (formerly MicroStrategy) temporarily halted its BTC acquisitions from June 30 to July 6, marking the first pause since early April. The company still holds 597,325 BTC (over $65 billion) bought at an average price of $70,982, representing about 2.8% of bitcoin’s total supply and $22.6 billion in unrealized gains.

Strategy has been funding purchases through at-the-market sales of common and preferred shares, raising $6.8 billion last quarter. Its “42/42” plan now targets $84 billion in capital raised for bitcoin buys through 2027.

In Q2, Strategy reported a $14.05 billion unrealized gain on digital assets but also recorded a $4.04 billion deferred tax expense. Despite concerns about its premium valuation and legal challenges, MSTR stock is up over 34% year-to-date, outperforming bitcoin’s 17%.

Co-founder Michael Saylor hinted at the pause by stating, “Some weeks you just need to HODL.”

CoreWeave to Buy Core Scientific for $9B, Gaining Major U.S. Data Center Footprint for AI Expansion

GPU-cloud provider CoreWeave has struck a $9 billion all-stock deal to acquire bitcoin mining firm Core Scientific, securing over a gigawatt of data center power in the U.S. to fuel its AI infrastructure. The merger, set to close in Q4 2025 pending approvals, values Core Scientific shares at $20.40 each — a 66% premium over their late-June price — and will leave its shareholders with under 10% ownership in the combined company.

CoreWeave, which supplies Nvidia GPU clusters to giants like OpenAI and Microsoft, already has a long-term hosting agreement with Core Scientific. By fully acquiring the miner, CoreWeave will cancel a $10 billion lease arrangement and take direct control of high-performance data center assets, aiming to improve efficiency and reduce expansion risks.

Following the merger announcement, Core Scientific shares dropped roughly 20% on Monday despite the acquisition premium, reflecting investor reactions to its challenging history and shifting strategic focus.

Strategy Unveils $4.2B Preferred Stock Sale to Expand Bitcoin War Chest and Support Operations

Strategy (formerly MicroStrategy) has announced plans to raise up to $4.2 billion by selling its 10% Series A Perpetual Stride Preferred Stock (STRD) through a flexible at-the-market program. The company will issue shares in stages, depending on market conditions, and intends to direct the proceeds toward further bitcoin accumulation, general corporate needs, and dividend payments on existing preferred stock.

This new stock offering builds on Strategy’s ambitious “42/42” plan, which aims to secure $84 billion in capital by 2027 for large-scale bitcoin purchases — doubling its original goal.

Despite this aggressive funding strategy, Strategy temporarily paused its bitcoin buying spree from June 30 to July 6, the first such break in three months. The firm currently holds 597,325 BTC, valued at over $65 billion, with an average purchase price of $70,982 per coin.

In its latest quarterly report, Strategy revealed $14.05 billion in unrealized gains on its bitcoin holdings but also recorded a $4.04 billion deferred tax expense. While shares of MSTR slipped 1.3% in pre-market trading on Monday, the company continues to signal unwavering commitment to its bitcoin-focused treasury strategy.

SEC Pushes for Faster Approval of Spot Solana ETFs After First Staking Fund Launch

The U.S. SEC has asked issuers to revise and refile Solana ETF applications by the end of July, signaling it may approve them much sooner than the October 10 deadline. This acceleration follows the automatic approval and launch of the REX-Osprey Solana and Staking ETF (SSK), which began trading last week as the first Solana staking fund. The SEC aims to avoid giving any single product a first-mover advantage, similar to its approach with ether and bitcoin ETFs. If approved, spot Solana ETFs would join spot bitcoin and ether funds as the third type of spot crypto ETFs available in the U.S., with applications for XRP, Dogecoin, and Litecoin ETFs also pending.