{ "as_of": { "block_height": 969248, "height_source": { "title": "mempool.space block explorer", "url": "https://mempool.space/block/969248" }, "observed_on": "2026-09-30" }, "boundaries": { "clustering_heuristics_used": false, "external_action": false, "floor_not_estimate": true, "market_price_fetched": false, "read_only": true, "runtime_state_exposed": false }, "categories": [ { "entities": [ { "as_of_date": "2026-09-27", "btc_amount": "847666", "entity_key": "strategy_inc", "entity_name": "Strategy Inc", "evidence": { "kind": "regulatory_filing", "title": "Strategy Inc Current Report on Form 8-K dated September 28, 2026", "url": "https://www.sec.gov/Archives/edgar/data/1050446/000119312526403417/mstr-20260914.htm", "locator": "Item 8.01; BTC Update table; Aggregate BTC Holdings as of September 27, 2026" } }, { "as_of_date": "2026-06-30", "btc_amount": "43514", "entity_key": "twenty_one_capital", "entity_name": "Twenty One Capital, Inc.", "evidence": { "kind": "regulatory_filing", "title": "Twenty One Capital, Inc. Quarterly Report on Form 10-Q for the quarter ended June 30, 2026", "url": "https://www.sec.gov/Archives/edgar/data/2070457/000121390026087471/ea0299640-10q_twentyone.htm", "locator": "Part I, Item 1, Note 6 - Digital Assets, pages 15-16; Bitcoin units and outstanding balance at June 30, 2026" } }, { "as_of_date": "2026-06-30", "btc_amount": "43000", "entity_key": "metaplanet_inc", "entity_name": "Metaplanet Inc.", "evidence": { "kind": "company_disclosure", "title": "Metaplanet Inc. Consolidated Financial Results for the Six Months Ended June 30, 2026 (Interim) (Under Japanese GAAP)", "url": "https://contents.xj-storage.jp/xcontents/33500/ccef5126/8cc0/4501/b779/01892d97a274/140120260813519694.pdf", "locator": "Page 4, Overview of Operating Results; Bitcoin holdings totaled 43,000 BTC as of June 30, 2026" } }, { "as_of_date": "2026-06-30", "btc_amount": "35577", "entity_key": "mara_holdings", "entity_name": "MARA Holdings, Inc.", "evidence": { "kind": "regulatory_filing", "title": "MARA Holdings, Inc. Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2026", "url": "https://www.sec.gov/Archives/edgar/data/1507605/000150760526000022/mara-20260630.htm", "locator": "Part I, Item 1, Note 5 - Digital Assets, page F-16; Total bitcoin holdings as of June 30, 2026" } }, { "as_of_date": "2026-08-28", "btc_amount": "23156", "entity_key": "strive_inc", "entity_name": "Strive, Inc.", "evidence": { "kind": "regulatory_filing", "title": "Strive, Inc. Current Report on Form 8-K dated August 31, 2026", "url": "https://www.sec.gov/Archives/edgar/data/1920406/000162828026059468/asst-20260831.htm", "locator": "Item 8.01; balance and shares-outstanding table comparing August 21 with August 28, 2026" } }, { "as_of_date": "2026-06-30", "btc_amount": "12205", "entity_key": "cleanspark_inc", "entity_name": "CleanSpark, Inc.", "evidence": { "kind": "regulatory_filing", "title": "CleanSpark, Inc. Quarterly Report on Form 10-Q for the quarter ended June 30, 2026", "url": "https://www.sec.gov/Archives/edgar/data/827876/000119312526338382/clsk-20260630.htm", "locator": "Part I, Item 1, Note 4 - Bitcoin, pages F-13 to F-14; number of Bitcoin held at June 30, 2026" } }, { "as_of_date": "2026-06-30", "btc_amount": "11380", "entity_key": "riot_platforms", "entity_name": "Riot Platforms, Inc.", "evidence": { "kind": "regulatory_filing", "title": "Riot Platforms, Inc. Quarterly Report on Form 10-Q for the quarter ended June 30, 2026", "url": "https://www.sec.gov/Archives/edgar/data/1167419/000110465926093448/riot-20260630x10q.htm", "locator": "Part I, Item 1, Note 5 - Bitcoin, page 12; balance and restricted-Bitcoin reconciliation at June 30, 2026" } }, { "as_of_date": "2026-06-30", "btc_amount": "9314", "entity_key": "hut_8_corp", "entity_name": "Hut 8 Corp.", "evidence": { "kind": "regulatory_filing", "title": "Hut 8 Corp. Quarterly Report on Form 10-Q for the quarter ended June 30, 2026", "url": "https://www.sec.gov/Archives/edgar/data/1964789/000110465926090025/hut-20260630x10q.htm", "locator": "Part I, Item 3 - Market Price Risk of Bitcoin, page 59; 17,316 consolidated BTC split between 9,314 held by Hut 8 and 8,002 held by American Bitcoin" } }, { "as_of_date": "2026-06-30", "btc_amount": "9117", "entity_key": "block_inc", "entity_name": "Block, Inc.", "evidence": { "kind": "regulatory_filing", "title": "Block, Inc. Quarterly Report on Form 10-Q for the quarter ended June 30, 2026", "url": "https://www.sec.gov/Archives/edgar/data/1512673/000162828026053368/xyz-20260630.htm", "locator": "Part I, Item 1, Note 11 - Bitcoin, page 24; Bitcoin investment balance at June 30, 2026" } }, { "as_of_date": "2026-06-30", "btc_amount": "8002", "entity_key": "american_bitcoin_corp", "entity_name": "American Bitcoin Corp.", "evidence": { "kind": "regulatory_filing", "title": "American Bitcoin Corp. Quarterly Report on Form 10-Q for the quarter ended June 30, 2026", "url": "https://www.sec.gov/Archives/edgar/data/1755953/000119312526329472/abtc-20260630.htm", "locator": "Part I, Item 1, Note 5 - Digital assets, pages 14-15; standalone reserve and custody/pledge split at June 30, 2026" } }, { "as_of_date": "2026-06-30", "btc_amount": "1056", "entity_key": "cango_inc", "entity_name": "Cango Inc.", "evidence": { "kind": "company_disclosure", "title": "Cango Inc. Reports Second Quarter 2026 Unaudited Financial Results", "url": "https://www.sec.gov/Archives/edgar/data/1725123/000149315226040816/ex99-1.htm", "locator": "Second Quarter 2026 Financial and Operational Highlights; digital asset reserves held at quarter-end" } } ], "exit_dependency": "A shareholder cannot redeem shares for bitcoin. Exit means selling the share to another buyer at whatever the market pays, which is not necessarily what the underlying bitcoin is worth.", "key": "public_company_treasury", "keys_held_by": "The company, or a custodian it appoints. Never the shareholder.", "label": "Held on public-company balance sheets", "limitation": "A selected set of eleven companies verified against filings, not a complete market. Companies outside the set are not counted, and a counted company may have bought or sold since the disclosure its row is dated by.", "status": "compiled", "what_the_holder_owns": "Shares in a company that owns bitcoin. The shareholder owns no specific coins and has no claim on them." }, { "entities": [ { "as_of_date": "2026-06-30", "btc_amount": "734261", "entity_key": "ishares_bitcoin_trust_etf", "entity_name": "iShares Bitcoin Trust ETF", "evidence": { "kind": "regulatory_filing", "locator": "Part I, Item 1, Schedules of Investments (Unaudited) at June 30, 2026, page 6: Bitcoin quantity 734,261; the same ending balance in Note 2's table of bitcoin activity for the three months ended June 30, 2026. The filing states whole bitcoin", "title": "iShares Bitcoin Trust ETF Quarterly Report on Form 10-Q for the quarter ended June 30, 2026", "url": "https://www.sec.gov/Archives/edgar/data/1980994/000143774926026004/bit20260630c_10q.htm" } } ], "exit_dependency": "Redemption in kind is generally unavailable to ordinary holders. Exit means selling shares during market hours, through a broker, subject to that broker's terms.", "key": "spot_etf", "keys_held_by": "The fund's appointed custodian. Never the shareholder.", "label": "Held inside spot exchange-traded funds", "limitation": "This floor counts one fund, BlackRock's iShares Bitcoin Trust (IBIT), at the bitcoin quantity its latest quarterly report on Form 10-Q states. The fund's holdings move daily as shares are created and redeemed, so the filed figure can be above or below what it holds today. Other spot products are not counted, so the category total is deliberately incomplete.", "status": "compiled", "what_the_holder_owns": "A beneficial interest in a trust that holds bitcoin. The shareholder never holds a key.", "why_it_matters": "A spot-fund share is often described as ordinary people owning bitcoin. Legally and operationally, the person owns a claim on a trust while the trust's custodian controls the keys." }, { "entities": [ { "as_of_date": "2026-09-18", "btc_amount": "7778.37428655", "entity_key": "el_salvador_onbtc", "entity_name": "El Salvador National Bitcoin Office", "evidence": { "kind": "official_disclosure", "locator": "Government-labelled ONBTC wallet endpoint; disclosed total balance at the captured block height", "title": "El Salvador National Bitcoin Office ยท ONBTC Wallet", "url": "https://bitcoin.gob.sv/api/v1/wallet/ONBTC" } } ], "exit_dependency": "Disposal is a political decision, not a market one. Holders of the currency the state issues have no claim on it whatsoever.", "key": "government", "keys_held_by": "The state, or an agency or contractor acting for it.", "label": "Held by states", "limitation": "This floor counts only El Salvador's government-labelled ONBTC wallet set. It excludes states that disclose no current quantity, seized assets whose ownership or disposition is unsettled, and third-party estimates.", "status": "compiled", "what_the_holder_owns": "Nothing. This is state property." } ], "method": { "complement_warning": "The remainder is not evidence of self-custody. It contains exchange balances, custodial wallets that publish nothing, coins that are lost, coins that have never moved, and coins held directly by individuals. Satoshi Gazette does not know the split and does not guess it.", "floor_rule": "Every counted quantity must be a named entity row with its own exact BTC amount, as-of date, primary source and document locator. Only holdings disclosed by the holder in a filing, an audited report, or a direct public statement are counted. Anything requiring an inference about who controls an address is excluded, so no undisclosed holding can enter the figure.", "percentage_rule": "Percentages are computed against issued supply at the pinned block height using exact decimal arithmetic. The floor is cut to four places, never rounded up, and the unclassified remainder is 100 minus it, so the two always sum to 100. The pinned block is never older than the newest disclosure the floor counts; older disclosures keep their own dates.", "supply_rule": "Issued supply is computed deterministically from the pinned block height using the protocol's own subsidy schedule: 50 BTC for the first 210,000 blocks, halving every 210,000 blocks thereafter. It is not fetched from a third party.", "why_a_floor": "The floor adds each holder's latest disclosure, each as of its own date, and takes the sum against the bitcoin issued at one pinned block. The block pins the denominator only. Holders that disclosed nothing, custodians that publish nothing and every exchange are left out, which is why the figure is a floor on disclosed positions rather than an estimate. It is not a guarantee about the pinned block: a holder that sold after its disclosure could hold less by then, and one that bought could hold more. Nothing is inferred from address clustering, a heuristic that attributes coins to entities without proof." }, "methodology_version": "2.2.0", "schema_version": "sg_bitcoin_custody_public.v2", "scope": { "description": "How much bitcoin is held through disclosed claims on somebody else, rather than as bearer property. Every category counts only what its holder has disclosed, each as of its own date, so the total is a floor on disclosed positions and never an estimate.", "excludes": [ "Exchange reserves, which require address-clustering heuristics rather than disclosure", "Custodians who publish no holdings", "Any inference about who controls an unlabelled address", "Lost, dormant, and never-moved coins, whose status nobody can verify" ] }, "summary": { "issued_btc": "20091403.125", "intermediated_floor_btc": "1786026.37428655", "intermediated_floor_percent": "8.8895", "unclassified_btc": "18305376.75071345", "unclassified_percent": "91.1105" }, "input_sha256": "c1977d63d3035079a51a61bfcc94216b286426718e5415c5f82e7b8b9af3f09f" }