Overview
- American Bitcoin Corp, which announced the milestone Monday, said its reserve passed 7,000 BTC and has roughly tripled since its September 2025 Nasdaq debut, ranking 16th among public holders.
- The company said its “satoshis per share” rose above 660, a metric that shows how much bitcoin backs each share and that it reports has more than doubled since listing.
- To boost self‑mining, ABTC bought more than 11,000 ASIC machines this month and is targeting about 89,000 rigs and roughly 28 EH/s of hashrate capacity.
- Shares traded around $0.82 to $0.90 after the update, leaving the stock down more than 50% year to date and about 88% over six months from post‑IPO levels.
- Recent results showed a $227 million non‑cash mark‑to‑market hit and a $59 million quarterly net loss, as management highlights a 53% mining margin and keeps one‑third of holdings sourced from mining rather than sales.