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Crypto Game Crashouts: The Biggest Shutdowns So Far in 2025

by admin August 27, 2025



In brief

  • Crypto gaming has experienced a growing trend of games and studios shutting down.
  • Game creators are struggling to find funding to complete development, among other commonly cited issues.
  • Once-promising blockchain games like Deadrop, Nyan Heroes, Ember Sword, and Pirate Nation top the list.

While crypto gaming has long been seen as a key use for blockchain, letting gamers really own and freely trade their unique items and perhaps profit from a game’s success, developers are struggling to sustain their games and digital economies.

Some games, like Gunzilla Games’ Off the Grid, have punched through to a broader audience, gaining adoption from top streamers and gamers alike—albeit ahead of full blockchain integration. But many other games and studios building with tokens are struggling to find players and maintain funding. 

In 2025, a number of once-promising crypto games have already closed up shop, and the list has been growing recently with each new week. Here’s a look at some of the biggest games to go offline or shut down entirely.

Deadrop

Deadrop game developer Midnight Society announced that it was closing shop in January. The studio, which had previously removed co-founder Dr. Disrespect in 2024 after alleged misconduct, gave employees just two days notice, according to an employee post on X.

The extraction shooter game spent around two years in early access, selling players NFT access passes on Ethereum scaling network Polygon, as well as other non-NFT items that ultimately became useless. In March, players started rallying around the abandoned community Discord, helping each other secure refunds via credit card chargebacks and bank reversals by claiming the product was never fully delivered.

Ember Sword

Ethereum game Ember Sword at one point received more than $200 million in pledges for an NFT land sale, conveying the level of hype around metaverse gaming land NFTs in 2021. But the final sale brought in much less than that, and in May, the game was ultimately shut down.

Developer Bright Star Studios cited a lack of funding in its closing announcement—a common theme among crypto games ceasing development of late. The MMORPG entered closed beta last July and early access later in the year, but drew criticism from players. After moving chains multiple times in search of a permanent home, it’s since gone offline. 

“We explored every possible way forward. But in today’s market—where even some of the most promising projects are shutting down—we couldn’t find a path to keep building,” the project said.

Nyan Heroes

The Solana cat-mech shooter game Nyan Heroes ended its run in May, as well. 

The game, which had racked up more than 250,000 wishlist additions across PC gaming platforms, was unable to secure the necessary funding to complete development and push ahead with its planned full launch next winter.

Its closure rendered its NYAN Solana token useless, plummeting its value to more than 99% off its all-time high established in 2024. 

“It’s been a difficult last few months,” 9 Lives CEO and Creative Director Max Fu told Decrypt following the announcement. “Currently, we are exploring acquisition of the studio and/or the IP. Some discussions are underway, but I suspect it may take some time to finalize a decision.”

Realms of Alurya

A funding issue also signaled the end of the line for Realms of Alurya. The game, which was initially expected to launch on Treasure’s blockchain, was forced to migrate to the Ethereum gaming-focused sidechain Ronin as Treasure pivoted to focus on AI initiatives.

The developers claimed in a message to its community that Treasure unexpectedly cut grant funding that was expected along developmental milestones. Without that funding, the studio said it was no longer able to complete its roadmap, and has yet to secure additional backing. In late June, the studio confirmed that the game was done for good.



Symbiogenesis

Final Fantasy creator Square Enix brought its Ethereum-based blockchain game Symbiogenesis to an end in July. 

The browser-based narrative game, which has links to multiple Ethereum scaling chains, like Arbitrum and Polygon, was first announced by Square Enix in 2022 and billed as a “digital collectible art project,” offering multiple chapters and quests to players in a new continent set in the sky. Just recently, the game did a crossover promotion with a couple games on Sony’s new Ethereum layer-2 network, Soneium, but the end was still set in stone.

Unlike other games which have been forced to fold due to a lack of product market fit or funding, the Symbiogenesis roadmap has been intentionally designed to end in July 2025 as the storyline comes to its conclusion. And to be clear, Square Enix has ample resources to keep a game like this live, making this an anomaly on this list; maybe the game just ran its course.

The story centered around the Floating Continent of #SYMBIOGENESIS will officially come to an end on July 31.

Access to the official website and game service will be terminated at 12:00 PM (JST) on July 31.

Since its announcement in November 2022, SYMBIOGENESIS has carried out…

— 【EN_Official】SYMBIOGENESIS | SQUARE ENIX (@symbiogenesisEN) July 28, 2025

The Mystery Society

The Mystery Society, an Ethereum game that blended vibes of the casual Among Us game with murder mystery, suspended operations in February. 

The game’s developer, Great Big Beautiful Tomorrow, was unable to find the funding necessary to complete the game, despite having previously raised $3 million.

The game first launched on Polygon before migrating to gaming-centric scaling chain Immutable in late 2024. 

After the announcement, the game developer’s CEO Chris Heatherly told Decrypt that “greed and stupidity from just about all players is killing the space before it can prove itself.”

Raini: The Lords of Light

Hearthstone-style card-battling game Raini: The Lords of Light shut down its online services for good in July, Raini Studios announced in late June, marking a new era for the studio as it pivots to a pair of upcoming games.

The Lords of Light, which had NFT assets minted on Ethereum and Avalanche, and an RST token on Avalanche L1 network Beam, leaned into crypto culture and humor for its tradable digital cards, which included subjects such as FTX founder Sam Bankman-Fried, Bitcoin creator Satoshi Nakamoto, Elon Musk, and even Dogecoin.

Raini paid out 2 million worth of RST rewards (about $3,300 worth) to players in June and July before Lords of Light shut down. Going forward, the studio plans to launch a pair of action-oriented games—Lucha Throwdown and Uncaged: The Jon Jones Brawler—with a new focus on deflationary tokenomics, including buying and burning RST with a percentage of studio revenue.

The Walking Dead: Empires

Gala Games’ zombie-themed MMORPG The Walking Dead: Empires also found its way to the graveyard. The Ethereum game, which was officially licensed from the AMC show The Walking Dead, was playable through the end of July.

“After careful consideration, we have made the difficult decision to sunset The Walking Dead: Empires, with the last playable date set for July 31, 2025,” wrote Gala Games in early May.

The game challenged players to craft weapons and build bases to protect themselves from the undead, at one point commanding major price tags for its NFTs on the secondary market. As compensation for the game’s shutdown, players will get mystery boxes filled with NFTs from other games published by Gala.

MetalCore

Mech shooter MetalCore closed its game servers and Discord community in March, ending communications with its community as developer Studio 369 makes “important changes to the game.” The official X post on the matter even restricted replies to only those that the MetalCore account follows.

Thank you to all the mercs who joined us for the Battlegrounds event! 🫡

MetalCore servers and Discord channels will be down as we make important changes to the game. Thanks for your dedication and support—stay sharp, we will return soon!

— METALCORE | Let’s #PlayMetalCore! (@playmetalcore) March 25, 2025

The game, which is still listed as available in the Epic Games Store, started on Ethereum layer-2 network Immutable zkEVM, but began a migration to Solana last October. But no updates have come since that March 25 announcement, despite a mention in the post that the team will “return soon.”

It appears that Studio 369 has moved on to a new project, launching the fantasy game Noble Legacy in early access on Steam—apparently without crypto features, given the PC gaming platform’s ban on such features.

Blast Royale

The developer of mobile game Blast Royale signaled its discontinuation in mid-May “after exploring every path and possibility,” it said. 

The creators of the battle royale-style game, which had a collection of Ethereum NFTs, open-sourced its code on June 1, allowing anyone in the community to pick up where they left off and further develop and modify the game. But otherwise, the game closed to players on June 30.

With a heavy heart, we confirm the news about Blast Royale’s closure. Thank you to our amazing community for being part of this journey. Please see the attached community statement shared by @Renny0x last week. pic.twitter.com/2iAv0VSGZg

— Blast Royale (@blastroyale) May 16, 2025

The game’s NOOB token will still be distributed and trade freely on Base, the Ethereum layer-2 built by Coinbase, but it has plummeted more than 99% from its all-time high price.

Mojo Melee

One of the latest additions to this list is Mojo Melee—the NFT-fueled auto-battler game in the vein of Teamfight Tactics. We went hands-on with Mojo Melee back in 2023 and enjoyed it, and the game subsequently held a promotion with Amazon to give out free in-game assets to Prime subscribers.

But now developer Planet Mojo is closing up shop, making a pivot to AI with plans to launch a movie-making platform. Mojo Melee and the studio’s WWA platform for AI gaming agents shut down on July 1.

It is with deep regret that we announce that Planet Mojo is officially sunsetting on July 1. Thank you to everyone who played, supported, and built with us. You can read our full message to the community here 👇 pic.twitter.com/2B0OGQzN57

— Mojo AI 🌱 (@WeArePlanetMojo) May 30, 2025

“While we’re incredibly proud of how far these projects came and and the passionate community that grew around them, shifting market realities have made it unsustainable to continue developing them at the level they deserve,” the studio said in a Discord message cross-posted to X.

OpenSeason

OpenSeason, a Fortnite-style battle royale game with loads of crypto meme references, had launched on the Epic Games Store and seemed promising. But the game is now offline after developer Fractional Uprising Studios faced funding issues, and the affiliated FU token cratered in price.

Pseudonymous co-founder Krypticrooks confirmed the move to Decrypt in early July, noting that the “server costs are too expensive” to have the game online at the moment, and noting the they faced challenges in developing the game while supporting community demands over the token price.

They’ve gone on to instead launch Booby Bot, a crypto-fueled gambling game with AI-generated nudity.

Tokyo Beast

Tokyo Beast barely had a chance to live before it died, with developers speedrunning the crypto gaming lifespan and announcing the imminent demise of the game just weeks after it launched. The makes of the mobile combat game announced the news in July, following the June 9 launch, with the servers shuttering on August 24.

There was good news amid the disappointment, however, with the developers revealing plans to compensate buyers of Tokyo Beast NFTs on Ethereum layer-2 network Immutable zkEVM, as well as people who had staked the associated TGT token.

Pirate Nation

Pirate Nation, a role-playing game with all assets and game logic put on-chain, had endured for a couple years, even amid a transition from Polygon to Arbitrum to cut costs. But in August, developer Proof of Play said that the game will be shut down in favor of the team launching bite-sized games using chunks of the overall experience.

Like many other games on this list, the devs cited high costs to support the game with a small user base. Proof of Play will continue building on-chain infrastructure and says it’ll support the PIRATE token, which is down 92% from its peak as of this writing.

“Shutting down Pirate Nation was one of the most difficult decisions I’ve ever been part of,” Adam Fern, co-founder and product lead, wrote on X. “I love Pirate Nation and I spent nearly seven days a week for the past three-plus years on it, but the truth is it wasn’t ever going to be a breakout, mass market success.”

Editor’s note: This story was originally published on May 31, 2025 and last updated with new details on August 27.

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August 27, 2025 0 comments
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Ripple CTO Proves He's Biggest XRP Fan
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Ripple CTO Proves He’s Biggest XRP Fan

by admin August 26, 2025


David Schwartz has long been known as the brains behind Ripple and XRP Ledger, but this week he decided to wear his loyalty a little more literally. Stopping by a café branded “XRPRESSO,” the Ripple CTO showed up with an XRP belt, an XRP t-shirt, a Gemini-issued XRP rewards card in hand and even a branded mug to match.

The scene looked more like a fan convention than a coffee run, and judging by the reactions online, the community loved every second of it.

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That display of enthusiasm comes as Gemini’s latest product tied to XRP is gaining traction in its own right. The Gemini credit card, which pays out XRP rewards, has climbed into the top 20 apps in the U.S. App Store, surpassing Coinbase in the rankings. 

Gemini currently sits in 16th place, as opposed to Coinbase at 20th, a detail that has not gone unnoticed at a time when exchange competition in the U.S. remains fierce and new user growth is hard to come by.

Major XRP Ledger update by Schwartz on way

The lighthearted café stop also followed a more serious note from Schwartz last week, when he revealed that XRPL’s next upgrade is already being tested in conditions close to production. He hinted that, if the results continue as they have, the new hub could move straight into the live system in the coming days.

While no firm launch date has been announced, the suggestion that the upgrade might roll out without the usual delays has lifted expectations across the XRP community.

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Schwartz manages to balance technical leadership with a sense of showmanship, switching from café selfies to detailed system updates in the same breath. It is that dual presence — half engineer, half ambassador — that keeps him firmly at the center of XRP’s culture as well as its codebase.



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August 26, 2025 0 comments
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When to Buy Bitcoin? Biggest Skeptic Offers Brutal Idea
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When to Buy Bitcoin? Biggest Skeptic Offers Brutal Idea

by admin August 25, 2025


Michael Saylor’s Bitcoin strategy made headlines again after a software producer revealed that it bought 3,081 BTC for around $357 million at an average price of $115,829. The company now has 632,457 BTC, worth over $71 billion, with an average entry of $73,527. 

Based on the numbers, Strategy is still up more than 52% despite the recent market ups and downs.

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Before the announcement, Saylor had said that Bitcoin was on sale, but it is all fun until Peter Schiff steps into the Bitcoin debate. 

Buy Bitcoin? It may be a good idea, but according to Schiff the real opportunity will not come until companies like Strategy go bust. For him, the only interesting entry point would be when companies that are heavily invested in Bitcoin have to sell a lot of their holdings, which would be like a fire sale.

Says the man who leveraged up to go all-in on Bitcoin. if you really want to buy Bitcoin, wait until the Strategy going out of business sale.

— Peter Schiff (@PeterSchiff) August 24, 2025

That critique is in line with a growing concern about how companies are handling their “Bitcoin treasuries.”

Risks of Bitcoin treasury companies

The model often involves issuing stock at premiums, channeling the proceeds into Bitcoin, and watching valuations rise in a feedback loop. It works while the premium is good, but once it fades, capital inflows stop and the setup starts to look like a margin trade with no room for error.

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For now, Strategy is still the big name in this field. The company’s market cap is currently at $99 billion, with an enterprise value of almost $113 billion, and its Bitcoin holdings account for nearly three-quarters of that total. 

Even so, Schiff’s point is still hanging in there: that the best time to buy Bitcoin might not be when Saylor talks about but when the system that supports corporate treasuries built on BTC finally breaks down.





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August 25, 2025 0 comments
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Gamescom 2025 Was The Biggest And Most Diverse In Show History
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Gamescom 2025 Was The Biggest And Most Diverse In Show History

by admin August 25, 2025


Gamescom 2025 was officially the biggest and most diverse in show history, according to the association that organizes the annual event in Cologne, Germany. Bringing in nearly 400,000 visitors from more than 100 countries, with international participation at an all-time high and its digital reach breaking a new record, the association is calling it the most successful show yet. 

Having spent a week in Cologne to cover the show for Game Informer, it was both one of the most exhausting and exciting weeks of my career. I played so many amazing games, spoke to just as many interesting devs, and ultimately, came away from the show excited about the future of gaming, despite the industry’s many, many problems. It turns out, I was one of 357,000 visitors from 128 countries at the show this year. More than 34,000 trade visitors attended the show, and Gamescom saw the strongest growth in this sector from the U.S., China, Canada, and Japan. 

 

Speaking of international participation, a total of 1,568 exhibitors from 72 countries participated on the show floor, “with a foreign share of 70%,” according to a press release. “There were also 40 country pavilions representing 35 countries, including for the first time the pavilion of official partner country Thailand, along with Dubai and Kyrgyzstan.”

Digitally, Gamescom 2025 reached new heights, too, garnering over 630 million views worldwide as of this past Saturday evening (Gamescom’s final day was yesterday). Gamescom says that’s a 105 percent increase compared to last year’s show. Seventy-two million of those views were for Gamescom’s Opening Night Live last Tuesday, marking an 80 percent increase in viewership compared to last year. 

“Gamescom combines business and entertainment like no other event worldwide, as shown by 1,568 exhibitors spread across 233,000 square meters of gross exhibition space,” Koelnmesse (the event hall) president and CEO Gerald Böse writes in a press release. “With record figures once again in nearly every category, the enormous variety of experiences and global participation, Gamescom is the most important event for the global gaming community.” 

 

Here are Gamescom 2025 stats, at a glance: 

  • 357,000 visitors from 128 countries

  • Over 34,000 trade visitors, with the strongest growth from the US, China, Canada, and Japan

  • More than 630 million views across the entire show program (as of Saturday evening) – an increase of 105 percent over the previous year

  • 72 million views for Gamescom Opening Night Live (as of Saturday evening) – an increase of 80 percent over the previous year

  • 5.7 million page views for Gamescom Epix (as of Saturday evening)

  • 1,568 exhibitors from 72 countries, with a foreign share of 70 percent

  • 40 country pavilions from 35 countries

  • Approximately 233,000 square meters of gross exhibition space

  • Around 80,000 people at the Gamescom city festival

We have a ton of coverage for Gamescom 2025 up on the Game Informer site, with many more previews for upcoming games to come, so check out some of the pieces so far: 

What was your favorite game shown during Gamescom 2025? Let us know in the comments below!



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August 25, 2025 0 comments
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The 10 Public Companies With the Biggest Bitcoin Portfolios

by admin August 18, 2025



For many years, the idea that publicly traded corporations might buy Bitcoin for their reserves was considered laughable. The top cryptocurrency was considered too volatile, too fringe to be embraced by any serious business.

That taboo has been well and truly broken, with a number of major institutional investors buying up Bitcoin in recent years.

The floodgates first opened when cloud software company Strategy (formerly MicroStrategy) bought $425 million worth of Bitcoin in August and September 2020. Others followed suit, including payments processor Block and electric car manufacturer Tesla.

Per BitcoinTreasuries, public companies holding Bitcoin now account for nearly 4.5% of the total supply of 21 million BTC. These are the biggest holders as of this writing.

1. Strategy

Strategy, a prominent business analytics platform turned Bitcoin treasury company, has adopted BTC as its primary reserve asset. The company is perhaps better known as MicroStrategy, but changed its name in February 2025 with co-founder Michael Saylor citing the “power and positivity” of “strategy.”

The firm, which produces mobile software and provides cloud-based services, has aggressively pursued a Bitcoin buying spree, scooping up millions of dollars worth of the cryptocurrency. As of this writing in August 2025, it holds 628,946 BTC in reserve, equivalent to more than $73 billion and more than 2.8% of the total number of Bitcoin that will ever be issued.

At one point, Strategy Executive Chairman Michael Saylor said, he was buying $1,000 in Bitcoin every second. In the company’s Q1 2024 earnings call, Saylor claimed that the company’s adoption of a “Bitcoin strategy” had enabled it to deliver 10x to 30x the performance of rival enterprise software companies in the business intelligence sector.

Unlike other executives who typically shy away from discussing their personal investments, Saylor has made it public that he personally purchased 17,732 BTC—currently worth over $1.6 billion and still holds them as of September 2024. It’s something of an about-face for the Strategy co-founder, who in 2013 claimed that Bitcoin’s days were numbered.

“We’re at the beginning of the stage of rapid institutional adoption of digital property in the form of Bitcoin,” Saylor said during the company’s Q1 2024 earnings call. He added that in the future, Bitcoin won’t compete against other crypto assets, but against, “gold, art, equities, real estate, bonds, and other types of store-of-value money in wealth creation, wealth preservation, and the capital markets.”



Strategy plans to buy even more Bitcoin in the near future, as it’s in the midst of raising a planned $42 billion to do just that, and Saylor is making the pitch to other public companies as well—like Microsoft, though shareholders ultimately voted against the proposal.

Perhaps the loudest Bitcoin proponent out there, Saylor has already said the firm will be “buying the top forever.”

2. Marathon Digital Holdings Inc.

Bitcoin mining company Marathon Digital, unsurprisingly, is also a large holder of Bitcoin, with 50,639 BTC in its corporate treasury according to a recent social update. That’s worth nearly $6 billion at today’s prices.

The company, which aims to build “the largest Bitcoin mining operation in North America at one of the lowest energy costs,” originated as a patent holding firm (and was often referred to as a patent troll) before its pivot into crypto mining.

The firm noted that it is accelerating its growth plans following the 2024 Bitcoin halving, in a bid to “mitigate the impact” of receiving half the BTC rewards per each successfully mined block.  The firm had said that it aimed to double the scale of its mining operations in 2024.

The company increased its revenue by 64% in Q2 2025, marking its highest ever revenue quarter at $238.5 million. It recently raised nearly $2 billion via convertible notes, most of which has been used to buy Bitcoin.

3. Twenty-One (XXI)

The Jack Mallers-led Twenty One (XXI) expects to hold 43,514 Bitcoin—over $5 billion worth currently—when transactions are finalized and it begins trading publicly. 

Set to launch via a planned SPAC merger with Cantor Equity Partners, the firm is also working alongside stablecoin giant Tether, crypto exchange Bitfinex, and Japanese investment firm SoftBank to build its Bitcoin treasury.

Unlike other treasury firms that may accumulate Bitcoin for their balance sheets while operating non-crypto businesses, Twenty One’s primary focus will be on acquiring BTC and providing Bitcoin-related services to help differentiate itself from others.

The firm pledges a long-term focus with plans not to “outperform inflation,” but instead “render the concept of inflation irrelevant.”

4. Bitcoin Standard Treasury Company

Bitcoin Standard Treasury Company (BSTR) is another soon-to-be public entity that will launch with more than 30,000 Bitcoin when its transactions finalize, expected to take place in Q4 2025.

The firm, which will be led by early Bitcoiner and BTC whale Adam Back, is the result of a merger between BSTR and the Cantor Fitzgerald-linked special purpose acquisition company, Cantor Equity Partners I.

As part of the merger, Back and founding shareholders will contribute 25,000 Bitcoin to the company, with another 5,021 Bitcoin provided via an in-kind PIPE, or private investment in public equity.

“We are putting unprecedented firepower behind a single mission: maximizing Bitcoin ownership per share while accelerating real-world Bitcoin adoption,” Back said of the firm, in a statement.

In addition to its 30,031 Bitcoin, currently valued at $3.5 billion, the firm also announced it could raise up to $1.5 billion in funding for more purchases.

5. Riot Platforms, Inc.

Another crypto mining outfit, U.S.-based Riot Platforms, holds 19,273 BTC—worth $2.25 billion at today’s prices.

With its valuation surging from below $200 million in 2020 to highs of over $6 billion in 2021, the Nasdaq-listed company went on an aggressive expansion drive. In April 2021, it spent $650 million on a one-gigawatt Bitcoin mining facility in Texas, eventually expanding further in 2022 before rebranding to Riot Platforms to diversify its business model in 2023.

In 2024, it warned shareholders that there was “no guarantee” the Bitcoin halving would improve profitability and while RIOT shares traded briefly around $18 in the early part of the year, the stock fell gradually before ranging below $10 from August until late October. After such, it gained alongside a resurgence for Bitcoin mining stocks and the broader cryptocurrency market after Donald Trump was named President-elect in November.

The company also reached a settlement with Bitcoin mining firm, Bitfarms, as it attempted a hostile takeover of the rival in 2024.

6. Metaplanet

Metaplanet, a Tokyo-listed firm nicknamed the “Asian Strategy,” now holds 18,113 Bitcoin after its latest purchase, worth over $2.1 billion at today’s prices. 

Outside of its Bitcoin operations, the company owns and operates a hotel that is being rebranded to the “Bitcoin Hotel,” and claims that it is the first and only publicly listed Bitcoin treasury company in Japan. 

Following in Strategy’s footsteps, the firm has aggressively added to its Bitcoin holdings of late, increasing its reserves more than 10x from less than 400 BTC in September 2024 to more than 4,500 in April 2025. It then more than tripled that number in just a couple months as it heads towards a goal of owning more than 210,000 Bitcoin by 2027.

In other headline news, the company added President Donald Trump’s son Eric Trump to a Strategic Advisory Board in March.

7. Trump Media & Technology Group

President Trump’s publicly traded media and technology firm is the 7th largest holder of Bitcoin with an estimated 15,000 BTC, according to data from Bitcointreasuries.net.

That number is likely derived from the firm’s recent $2 billion purchase of Bitcoin and Bitcoin-related securities in July—although it has not publicly detailed exactly how much of that purchase is denominated in BTC itself.

Trump Media has been leaning into crypto heavily since the president returned to the White House in January.

In addition to its Bitcoin purchases, it also teased the launch of a crypto token and wallet for its Truth Social platform, and has filed to launch multiple crypto ETFs.

8. CleanSpark

U.S. Bitcoin mining firm CleanSpark holds 12,703 BTC as of July 31, worth just under $1.5 billion at today’s prices.

Ahead of the 2024 Bitcoin halving, the firm expanded its operations, snapping up three Bitcoin mining facilities in Mississippi for $19.8 million and adding up to 2.4 EH/s to its mining capacity. The company also added a third facility in Dalton, Georgia to its lineup, with a further 0.8 EH/s.

Today $CLSK reported fiscal year third quarter 2025 results (ended 6/30/25).

*Quarterly revenue: $198.6 million (up 90.8% from same prior fiscal quarter)

*Quarterly bitcoin production: 2,012

*Quarterly average revenue per coin: $98,753

Full press release here:… pic.twitter.com/PcZ0wXPUZA

— CleanSpark Inc. (@CleanSpark_Inc) August 7, 2025

In June 2024, CleanSpark revealed that it had mined 417 BTC in the month of May, claiming to have “outperformed industry expectations” in its first full month of production following the halving. The company added that it would further expand to a site in Wyoming.

While other public companies on the list have made it a habit of buying Bitcoin for their treasuries, CleanSpark CFO Gary Vecchiarelli said in February 2025, “We continue to invest in ourselves, because why buy Bitcoin at current spot prices when we can mine it for $34,000?”

9. Coinbase

Arguably the best-known crypto firm in this list, crypto exchange Coinbase went public in a landmark direct listing on the Nasdaq in April 2021.

Ahead of its listing, in February 2021, Coinbase revealed that it held $230 million in Bitcoin on its balance sheet. As of its most recent 10-q filing, it holds 11,776 BTC in its treasury for investment, currently worth nearly $1.4 billion.

The company’s stock has charged back towards its previous all-time high in the wake of the 2024 Presidential election, later surpassing the mark in June 2025 and pushing to a new high again in July.

It continues to innovate with Bitcoin, recently announcing its own wrapped Bitcoin product, cbBTC. Coinbase also recently restarted Bitcoin lending services.

10. Tesla

Electric vehicle manufacturer Tesla joined the ranks of companies holding Bitcoin in December 2020, with an SEC filing revealing that the company invested “an aggregate $1.5 billion” in Bitcoin. Today the company holds 11,509 BTC according to its July 2025 10-Q, or about $1.35 billion worth.

After its first purchase, the company sold 10% of its Bitcoin holdings in Q1 2021; according to CEO Elon Musk, this was “to prove liquidity of Bitcoin as an alternative to holding cash on balance sheet.”

The company’s Bitcoin play followed months of speculation, after CEO Elon Musk took to Twitter (aka X) to discuss the cryptocurrency. In late 2020, Strategy’s Saylor offered to share his “playbook” for Bitcoin investing with Musk, after arguing that a move into Bitcoin would be doing Tesla shareholders a “$100 billion favor.”

However, Musk and Tesla have had an on-and-off relationship with Bitcoin. After announcing that Tesla would accept payments in Bitcoin for its products and services in March 2021, just two months later the CEO abruptly announced that the company would no longer accept the cryptocurrency for payments.

Arkham Intelligence believes the acceptance of Bitcoin payments fueled a jump in the Tesla Bitcoin holdings, placing its current treasury at 11,509 BTC compared to a once widely reported 9,720 BTC based on its previous purchases and ensuing sales. Tesla’s latest financial reports validate the total of 11,509.

It remains to be seen whether Tesla will add to its balance sheet, but Musk has said that “he’s open to increasing its Bitcoin holdings in the future.”

Musk is perhaps best known as a keen advocate of another cryptocurrency, Dogecoin. Tesla has enabled Dogecoin purchases for some merchandise, plus Musk led the Department of Government Efficiency (DOGE) earlier this year, spawning new meme coins and a swift movement upward for Dogecoin.

Additional reporting by Daniel Phillips

Editor’s note: This article was first published in July 2022 and last updated with new details on August 15, 2025.

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August 18, 2025 0 comments
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  • New PlayStation 6 tech all but confirmed by Sony and AMD – and it looks like it’ll make its way into other hardware too

    October 9, 2025
  • Arc Raiders Wants To Make Progression Wipes Less Unfair

    October 9, 2025
  • Battlefield 6 Review – Good Company

    October 9, 2025
  • BF6 Review: The first Battlefield game I can recommend without reservations

    October 9, 2025

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Welcome to Laughinghyena.io, your ultimate destination for the latest in blockchain gaming and gaming products. We’re passionate about the future of gaming, where decentralized technology empowers players to own, trade, and thrive in virtual worlds.

Recent Posts

  • Absolum Review – The Sweet Spot

    October 9, 2025
  • New PlayStation 6 tech all but confirmed by Sony and AMD – and it looks like it’ll make its way into other hardware too

    October 9, 2025

Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

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