An increasing number of public companies are building cryptocurrency reserves. In recent days, education platform Classover, fintech firm Treasure Global (TGL) and South Korean media alliance K Wave Media (KWM) have unveiled such plans.
Classover opts for a Solana treasury
The Nasdaq-listed firm plans to raise up to $500m to build a Solana-denominated corporate treasury.
Classover has signed agreements with Solana Growth Ventures LLC and announced the issuance of senior secured convertible notes. The first $11m funding tranche is expected shortly after customary closing conditions are met. The firm will allocate up to 80% of the net proceeds from the notes to purchasing SOL tokens.
The new financing complements Classover’s previously announced $400m equity purchase agreement, taking the total potential firepower earmarked for SOL to $900m.
In May the company launched a SOL-based treasury strategy to “strengthen its balance sheet with a high-performance and scalable digital asset”.
At the time of writing, Classover shares under the ticker KIDZ trade at $4.56, down 16.18% over the day, according to Google Finance.
Treasure Global to invest in bitcoin, ether and stablecoins
TGL will invest up to $100m in cryptocurrencies. It will acquire digital gold, Ethereum and “regulated stablecoins”.
Half of the funds will come from existing equity capital, with a further $50m via an institutional partnership. The assets will also support an AI platform for consumer-behaviour analytics, slated to launch by year-end.
The company added that the move will lay the groundwork for tokenised loyalty programmes and cryptocurrency payments.
Treasure Global (TGL) shares trade at $1.48 (+0.68 on the day).
K Wave Media targets a bitcoin strategy
The Nasdaq-traded company will raise up to $500m to execute a bitcoin strategy. The firm has entered into a securities purchase agreement with Bitcoin Strategic Reserve KWM. According to the press release, K Wave Media aims to become “the Korean Metaplanet”.
Proceeds from common-stock sales will fund a bitcoin-focused treasury. The firm is also considering purchases of other cryptocurrencies.
Funds will also be used for M&A to expand its content and K-POP businesses. K Wave Media plans to run Lightning Network nodes and invest in infrastructure that enables on-chain rewards and decentralisation.
The firm’s shares (KWM) trade at $4.48, up 133.33% on the day.
Bluebird Mining Ventures to allocate proceeds to digital gold
British public gold miner Bluebird Mining Ventures has also adopted a bitcoin strategy. The firm plans to convert future revenues from its projects into bitcoin.
Strategy shift to covert gold into digital gold — #bitcoin #goldmining #goldequities #investinbitcoin #investingold
“Combining income streams from gold mining projects and recycling these revenues into a proactive “Bitcoin in Treasury” management approach, whilst maintaining a… pic.twitter.com/BpJA6hFU9Y— Bluebird Mining Ventures Ltd (LSE:BMV.L) (@bluebirdIR) June 5, 2025
Bluebird Mining Ventures owns three large precious-metal projects located in South Korea and the Philippines. The total estimated gold resources at these sites are about 1.8m ounces.
The company’s shares (BMV) on the London Stock Exchange trade at $0.59 (+58.51% on the day).
According to BiTBO, 73 companies hold 3.6% of bitcoin’s total supply.
On June 3, former Binance chief Changpeng Zhao warned about the risks associated with companies widely building bitcoin-based treasuries.
Experts Saifedean Ammous, Max Keiser and Matt Hougan urged corporate investors to reassess their bitcoin strategies.
Investor and billionaire Tim Draper, by contrast, believes that companies which have not included the first cryptocurrency in their treasury reserves are “irresponsible”.