KOSDAQ-listed company Bitmax has emerged as the leading Bitcoin-holding public company in South Korea, surpassing Wemade by expanding its holdings to over 230 Bitcoins. According to recent disclosures, Bitmax added 35.63 BTC in its latest purchase, bringing its total holdings to 230.26 BTC—outpacing Wemade’s 223 BTC.
In May alone, Bitmax acquired 69.6 Bitcoins across three transactions. The company clarified that this is not a one-time investment but part of a broader long-term strategy to position digital assets as a core element of its treasury. Notably, Bitmax plans to allocate 400 billion KRW of the 500 billion KRW raised through its 4th convertible bond issuance specifically for Bitcoin acquisitions.
With this move, Bitmax now ranks 13th in Asia and 48th globally in terms of corporate Bitcoin holdings. The company sees Bitcoin not merely as an investment asset, but as a store of long-term value—an approach aligned with evolving global finance trends around blockchain and digital reserve assets.
Bitmax, formerly known as Maxst, was originally listed on the KOSDAQ in July 2021 through a technology-special listing program, focusing on XR (Extended Reality) technologies. However, in early 2025, the company initiated a sweeping strategic pivot toward Bitcoin-centered operations. This shift included a new CEO, changes in majority ownership, and an official name change to “Bitmax,” all signifying its firm commitment to a digital asset–driven future.
Bitmax’s steady accumulation of Bitcoin is now seen as a leading case of strategic digital asset management among South Korean public companies. As institutional interest in crypto continues to rise and local regulations evolve, Bitmax’s approach could serve as a bellwether for other firms considering a similar path.
