Next Technology Holding Inc. (NASDAQ: NXTT) received board approval to sell or pledge its Bitcoin (BTC), creating options to reduce its Bitcoin exposure and obtain liquidity without committing to a transaction.
The board approved the measure unanimously through written consent effective Oct. 30. It allows the company to sell Bitcoin on exchanges, arrange block trades with specific buyers or pledge holdings as security for financing. The chief executive officer can set timing, price, volume and tranche schedules, negotiate and sign transaction documents, and delegate authority to senior officers in writing.
Next Technology said it held approximately 5,833 BTC on Oct. 30, without providing a current dollar valuation. It disclosed no transaction date, amount, sale price or financing terms and gave no assurance a deal would be completed. The company did not identify the holdings’ custodian.
The company said the board considered attacks on crypto platforms, weaknesses in exchange security and emerging threats to cryptography, including possible effects from quantum computing. Its review also covered Binance’s recent security incident. Next Technology said none of its Bitcoin was held on or through Binance.
Binance said its hot wallets were compromised around 4:05 p.m. ET (20:05 UTC) Oct. 29, with estimated token losses of $6.3 billion. In an Oct. 30 update, the exchange said about $3 billion had been frozen on-chain and it had set aside more than $6.34 billion to cover the losses. Binance said it would take the financial hit itself rather than leave customers to bear it.
Next Technology’s Form 10-Q for the quarter ended June 30, 2026, listed approximately 5,833 BTC with a carrying value of $351.5 million. The filing reported an unrealized digital-asset fair-value loss of $164.6 million for the six months ended June 30, 2026. It described an ongoing accumulation strategy while keeping sales for corporate purposes and financing secured by Bitcoin among the company’s options.
Next Technology set no date for a sale, pledge or follow-up announcement. Binance said it expected to share further technical findings within about 48 hours of its Oct. 30 update and planned to have proof-of-reserves results ready by Nov. 2.
