Golden Finance reported that Alex Thorn, the research director of Galaxy Digital, wrote that the market’s concerns about Bitcoin Treasury companies and their debt problems were exaggerated. From an overall scale perspective, the debt scale of these companies is not an exaggeration, and the vast majority of the debts are due after the next two years.
According to the data chart of Galaxy Research, as of May 2025, the debts of $650 million due in July 2024, $500 million due in September 2024, and $1.05 billion due in February 2025 have all been successfully repaid. This shows that the Bitcoin Treasury Company has a good debt-paying ability when its past debts matured, effectively reducing the risk of short-term debt default.
Further data indicates that the debts of the majority of Bitcoin Treasury companies are concentrated between 2027 and 2030. Among them, a debt of 1 billion US dollars is due in December 2027. The debt due in March 2028 is 2 billion US dollars. The $3.65 billion due in June 2028 is the largest amount due in a single period. This data covers multiple companies such as Strategy, Marathon, Riot, Semler Scientific, Marathon Holdings and H100, and the statistics are up to May 27, 2025.
Such a long distribution of debt maturities means that in the next two years, these companies will not face the pressure of large-scale concentrated debt repayment, and will have relatively ample time to plan their capital flow and deal with future debt maturities through operating income, asset disposal or refinancing, etc. For example, during this period, the company can take advantage of the fluctuations in the price of Bitcoin and sell some Bitcoin assets in a timely manner to repay debts. Or by improving one’s own business, enhancing profitability and accumulating sufficient cash flow for debt repayment.
Previously, the market was on edge due to the debt defaults of some crypto enterprises and was overly concerned about the debt situation of Bitcoin Treasury companies involved in the crypto field. However, judging from the current actual maturity time of debts, such concerns lack sufficient realistic basis. As the crypto market gradually matures, Bitcoin Treasury Company has become increasingly stable in debt management. The relatively lenient debt maturity environment in the next two years provides favorable conditions for its continuous development and strategic layout.
Related Topics:
- Gavin Wood, the founder of Polkadot: Personally, I don’t plan to issue new tokens based on the JAM protocol
- The US spot Ethereum ETF saw a net inflow of 11.3 million US dollars yesterday
- Jpmorgan Chase expects the European Central Bank to cut interest rates next in September, later than the previously predicted July
