American Bitcoin Increases Holdings by 416 BTC, Total Reserve Reaches 4,783 BTC

American Bitcoin has further expanded its Bitcoin holdings, adding 416 BTC in its latest accumulation round.

The update, released Wednesday, confirms that the company’s total reserve has climbed to 4,783 BTC as of December 8.

Consistent Expansion Amid Market Volatility

This latest increase follows a 363 BTC addition made just one week earlier, which had raised the firm’s reserve to 4,367 BTC. In November, the company reported a treasury of 4,004 BTC.

The firm’s continued buying coincided with a significant decline in Bitcoin price. Specifically, the cryptocurrency fell to approximately $82,000 after reaching a record high of $126,080 in October.

Nevertheless, American Bitcoin maintained its accumulation strategy, signaling a long-term approach to market cycles.

A Multi-Channel Approach to Bitcoin Acquisition

American Bitcoin reported that its holdings are sourced through a combination of mined Bitcoin, direct purchases, and custody arrangements. Additionally, some of the Bitcoin is also pledged under a BITMAIN agreement associated with miner procurement. Together, this reflects the company’s integrated strategy for mining and accumulation.

The company, majority-owned by Hut 8 Corp, operates as both a mining operator and a strategic buyer. This combination enables it to pursue multiple avenues for expanding its reserve base.

SPS Metric Shows Strong Monthly Growth

Alongside its reserve update, the company reported a significant improvement in its Satoshis Per Share (SPS) metric.

According to the announcement, SPS increased by more than 17% in just over one month. This metric enables shareholders to gauge the amount of Bitcoin each outstanding share represents.

Co-founder and Chief Strategy Officer Eric Trump said the company is advancing at an “exceptional pace” as its Bitcoin reserve continues to expand.

Rapid Development After Public Listing

The firm also emphasized its progress since entering the public markets three months ago.

Eric Trump claims that the company has already become one of the fastest-growing Bitcoin accumulators in the industry, citing its cost structure and margins as the basis for long-term investor value.

Meanwhile, investor interest reflected modest upward movement on Wednesday, with shares rising about 1.42% in pre-market trading.

However, the firm also acknowledged recent pressure on its stock, linked to pre-merger private placement shares becoming eligible for public trading. This transition has contributed to short-term fluctuations in market sentiment.

Revenue and Profit Surge in Q3

Despite market volatility, American Bitcoin reported strong financial results for the third quarter.

The company reported revenue of $64.2 million, a substantial increase from $11.6 million in the prior year. Meanwhile, net income rose to $3.5 million, compared with a loss of $0.6 million during the same period last year.

As of this writing, Bitcoin has begun recovering from last month’s dip, rising 1.7% over the past 24 hours to trade near $92,066.