American Bitcoin Corp (ABTC) expanded its bitcoin holdings by purchasing an additional 54 bitcoins amid Monday’s significant market downturn. This acquisition raised their total bitcoin reserve to 5,098 coins, valued at just under $450 million based on the current BTC price of $87,600.
With this accumulation, ABTC—co-founded by Eric Trump who also acts as the company’s chief strategy officer—now ranks among the top 20 publicly traded firms holding substantial bitcoin treasuries, according to bitcointreasuries.net.
The Nasdaq-listed company revealed that its growing stash was built through a mix of self-mining operations and strategic purchases. Some of these bitcoins are held in custody or secured via a miner purchase agreement with Bitmain.
Additionally, ABTC emphasized a remarkable 96.5% increase in bitcoin yield since going public on Nasdaq. As of December 14th, it reported holding 533 satoshis per share—a metric representing how much bitcoin corresponds to each outstanding share. The bitcoin yield indicates the percentage growth in satoshis per share over time.
Despite Tuesday’s positive movement in BTC prices, ABTC shares fell another 2.7%, continuing their downward trend following an unexpected expiration of stock lock-up restrictions two weeks prior. Since then, the stock has lost nearly 60% of its value.