Coinbase Converts Its Profits into Bitcoin: 1,922 BTC Added in 2026

In complete discretion. Coinbase continues its accumulation of bitcoins, quarter after quarter. As of June 30, the American exchange held 17,311 BTC for investment purposes, up from 15,389 six months earlier. This reserve, which belongs directly to the company, is worth approximately $1.1 billion at current prices. It remains entirely separate from the bitcoins that Coinbase holds for its clients and for ETF issuers.

Key Points

• Coinbase has added 1,922 BTC since January 1 and over 5,535 since last August, bringing its treasury to around 17,000 units.
• The purchases are financed by a portion of the quarterly net profit, without issuing dedicated shares or convertible bonds.
• This pace represents between 2% and 3% of the 450 bitcoins created each day since the halving in April 2024.
• These 17,311 BTC belong to Coinbase and remain distinct from the much larger reserves held for its clients and U.S. spot ETF issuers.

Coinbase Adds 1,922 BTC in Six Months

The detail appears in the latest quarterly report filed with the SEC. Coinbase owned 16,492 BTC as of March 31, after adding 1,103 in the first quarter. The company then acquired an additional 819 BTC between April and June, bringing its stock to 17,311 units.

The total cost of this reserve reaches $1.214 billion, or about $70,111 per bitcoin. Its fair value was only $1.013 billion as of June 30 due to market declines. At the current price, close to $62,600, it rises to around $1.08 billion but remains below its accounting acquisition price.

Coinbase has indicated that it invests a portion of its quarterly net income into various digital assets. The portfolio also includes about 150,000 ETH and other cryptocurrencies, although Bitcoin now represents the main component.

The strategy differs from that of companies created or transformed into Bitcoin treasuries. Coinbase does not present these purchases as the product of share or bond issuances specifically aimed at accumulating BTC. The company uses resources generated from its trading, custody, subscription, and stablecoin activities.

The Equivalent of 2.4% of New Bitcoins Absorbed

In the first six months of the year, Coinbase has added an average of 10.6 BTC per day. Since the halving in April 2024, miners create about 450 BTC daily. The exchange's accumulation rate thus equates to nearly 2.4% of this new supply.

Over a year, the progress is even more spectacular. Coinbase reported 11,776 BTC as of June 30, 2025: its portfolio has thus grown by 5,535 BTC in twelve months, or nearly 47%. According to BitcoinTreasuries, this stock places the company around ninth position among publicly traded companies holding bitcoins.

One distinction remains essential: the 17,311 BTC correspond to Coinbase's own investments. They do not include client deposits or the reserves of ETFs for which Coinbase Custody protects the private keys. These third-party assets remain legally separate from its balance sheet.

Coinbase is thus gradually converting a portion of the revenues generated by the crypto ecosystem into long-term held bitcoins. However, the pace will depend on its results and management decisions: unlike Strategy, the accumulation of BTC remains a component of its business, and not its reason for being.

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