American Bitcoin Corp has recently expanded its Bitcoin reserves by acquiring an additional 416 BTC, increasing its total holdings to approximately 4,783 BTC. This accumulation is currently valued at over $440 million based on the latest market prices, as revealed in a press statement released on Wednesday.
The company’s key performance indicator, Satoshis Per Share (SPS), experienced a growth exceeding 17% within the last month. According to the announcement, this swift increase in reserves highlights the effectiveness of their acquisition strategy since their debut on Nasdaq.
Eric Trump, co-founder of American Bitcoin Corp, emphasized: “Since our Nasdaq listing three months ago, we have established one of the most substantial and rapidly expanding Bitcoin portfolios. Our cost efficiency and margin structure set us up for sustainable value creation over time. We are committed to pushing forward with our strategic initiatives and capitalizing on this momentum moving forward.”
On Tuesday, shares of ABTC saw a modest rise of about 1.5%. However, the stock faced downward pressure recently after private placement shares from before their merger became available for public trading.