American Bitcoin Corp. (ABTC), co-founded by Eric Trump who currently holds the position of chief strategy officer, increased its bitcoin holdings by 416 BTC during the week ending December 8.
The firm, primarily owned by bitcoin mining company Hut 8 (HUT), now possesses a total of 4,783 bitcoins, as stated in a press release issued on Wednesday.
Eric Trump highlighted that ABTC’s key performance indicator, Satoshis Per Share (SPS), climbed to 507 — marking an increase exceeding 17% within just over one month. SPS measures the quantity of bitcoin allocated per outstanding share.
Although ABTC’s stock showed slight gains in early trading on Wednesday, it has yet to rebound from a sharp 50% drop experienced on December 2. This plunge was caused by the unlocking of private placement shares related to an upcoming merger.
Meanwhile, ProCap Financial (BRR), led by Anthony Pompliano and having recently finalized its SPAC merger last week, added a smaller amount of bitcoin—49 coins—to reach a total holding of approximately 5,000 BTC. This acquisition resulted in a realized loss that can be utilized to offset future taxable gains according to their announcement.
“Through implementing a tax-efficient optimization approach, we have generated tangible value for our shareholders,” Pompliano explained.
BRR also saw modest increases during early trading sessions but has declined more than 60% over recent days.
Based on data from bitcointreasuries.net, BRR and ABTC are ranked as the twenty-first and twenty-second largest publicly traded companies holding bitcoin respectively.