TechFlow news, June 9 — Alex Thorn, Head of Research at Galaxy Digital, posted that concerns about Bitcoin treasury companies and their debt becoming problematic are overstated. He noted that in terms of overall scale, the debt levels of these companies are not significant, and most of the debt does not mature for over two years.
According to a data chart from Galaxy Research, as of May 2025, the $650 million due in July 2024, the $500 million due in September 2024, and the $1.05 billion due in February 2025 have all been successfully repaid.
The data also shows that the majority of debt held by Bitcoin treasury firms will mature between 2027 and 2030, including $1 billion due in December 2027, $2 billion due in March 2028, and $3.65 billion due in June 2028—the largest single amount. The data covers multiple companies including Strategy, Marathon, Riot, Semler Scientific, Marathon Holdings, and H100, with statistics current as of May 27, 2025.
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