Every company in CoinBucha's record holds bitcoin, but not for the same reason. The reason decides what a share carries besides the bitcoin. The class labels come from CoinBucha's research register and are printed on each company page.

Treasury companies: bitcoin is the strategy

A treasury company raises capital — new shares, convertible notes, preferred stock — and buys bitcoin with it. The bitcoin is most of the story, so bitcoin as a share of market capitalisation is usually large. Strategy: 848,000 BTC (as of 2026-10-04), 0.00221 BTC per share, bitcoin 128.0% of market cap. What else to read: the debt and preferred stock ranking ahead of common shares, and whether new issuance adds or dilutes bitcoin per share.

Miners: bitcoin is the output

A miner turns electricity and machines into newly issued bitcoin and decides how much to keep and how much to sell for costs. MARA Holdings: 35,577 BTC, 0.0000921 BTC per share, 109.2% of market cap. Riot Platforms: 11,380 BTC, 0.0000303 BTC per share. What else to read: hashrate, power costs, the machine fleet, and, for several, data-centre hosting businesses that sit beside mining.

Exchanges and financial infrastructure: bitcoin is the activity

An exchange, broker or custodian earns fees when people trade or hold bitcoin; it may also hold some for itself. Coinbase Global: 17,311 BTC on its own balance sheet, 0.0000656 BTC per share, 3.3% of market cap. What else to read: trading volumes, custody assets, and regulation — the bitcoin it holds is a small part of the share's value.

And companies that simply hold some

A fourth group holds bitcoin beside an unrelated business (a carmaker, a retailer). For them the bitcoin per share is real but small; CoinBucha keeps them in its register, outside the index, which admits bitcoin businesses and material holders only. Incidental holders.

One table for all of them

/companies lists every class side by side — bitcoin held, bitcoin per share, bitcoin as a share of market cap, next results date — filterable by class. The class tells you what else you are holding. Information, not financial advice.