European bitcoin companies

The list takes the largest listed bitcoin holders in each European country from Bitcoin Treasuries and adds the companies that work only with bitcoin and hold a license from a European supervisor. Holdings are from October 2026, and the licenses come from the MiCA register of the European Securities and Markets Authority. The treasury companies hold bitcoin on their own balance sheets, while the apps and brokers keep the bitcoin of their customers in custody or send it straight to their wallets.

A bitcoin treasury company raises money through shares or bonds and buys bitcoin with it, so that each share stands for a growing amount of bitcoin. Capital B on Euronext Growth Paris held 3,538 bitcoin at the end of September 2026, and the Swedish health technology company H100 Group holds about 3,506 bitcoin according to Bitcoin Treasuries. The Smarter Web Company in London holds about 2,830 bitcoin, and Treasury, listed on Euronext Amsterdam, holds about 1,111. Investors compare these shares with the mNAV, the ratio between the market value of a company and the value of its bitcoin.

Several bitcoin-only apps hold a license under MiCAR, which lets them serve customers across the European Union from one country. The French supervisor AMF authorized Bitstack in June 2025, an app that rounds up card payments and invests the difference in bitcoin and that counted more than 300,000 active users in December 2025. In Austria the FMA licensed 21bitcoin from Salzburg, which reported more than 100,000 customers, and Coinfinity in Graz, a bitcoin-only broker since 2014. The Dutch AFM licensed Bitonic, a company that has sold only bitcoin since 2012, and the Swiss app Relai received its EU license from the AMF in October 2025.

Prague is home to two of the oldest bitcoin companies in Europe. SatoshiLabs launched the first Trezor hardware wallet in 2014, and Trezor offers a firmware that supports bitcoin only for owners who want no other code on the device. Braiins runs Braiins Pool, which started in 2010 as Slush Pool, the first mining pool in which miners combine their computing power and share the block rewards. Braiins also sells firmware and software that mining companies use to run their machines.

The largest institutional bitcoin holders in Europe are issuers of exchange-traded products, which hold bitcoin for the investors in their securities. Bitcoin Treasuries counts about 20,850 bitcoin in the Bitcoin Tracker One of CoinShares in Stockholm, about 19,260 bitcoin in WisdomTree Physical Bitcoin and about 12,250 bitcoin in the two bitcoin ETCs of Bitwise Europe in Frankfurt. 21Shares in Zurich issues physically backed bitcoin ETPs as well, and Bitcoin ETFs in Europe explains why these products are bonds and not funds.

Bitcoin mining needs cheap electricity, so mining companies in Europe cluster where hydropower or surplus energy is available, mainly in Norway, Sweden, Finland and Iceland. In these countries the cold air also cools the machines, which lowers the energy a mining hall needs besides the mining itself. Braiins in Prague supplies the pool and the software, while the mining machines come almost entirely from manufacturers in Asia.

A bitcoin treasury company is a listed company that holds bitcoin as its main reserve asset and buys more with money from new shares, convertible bonds or preferred shares. The company reports how many bitcoin stand behind each share and how that number changed over a period, often under the name BTC Yield. When the share trades above the value of the bitcoin held, every new share issue buys more bitcoin per share, and when it trades below, issuing shares reduces the bitcoin per share.