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MIAMI - American Bitcoin Corp. (NASDAQ:ABTC) has acquired approximately 139 bitcoin since October 24, bringing its total holdings to 4,004 bitcoin as of November 5, the company announced Friday. With a current market capitalization of $74.19 million, the bitcoin-focused company is trading at $4.54 per share, down significantly from its 52-week high of $10.24.
The bitcoin accumulation platform, which is majority-owned by Hut 8 Corp., reported that its holdings include bitcoin acquired through mining operations and strategic purchases, including bitcoin held in custody or pledged for miner purchases under an agreement with BITMAIN. According to InvestingPro data, ABTC operates with a moderate level of debt and maintains strong liquidity with a current ratio of 7.43, indicating its liquid assets significantly exceed short-term obligations.
The company also updated its Satoshis Per Share (SPS) metric, which reflects the amount of bitcoin attributable to each outstanding share of common stock. The SPS figure stands at 432, representing a 3.35% increase over a 12-day period.
"We continue to expand our Bitcoin holdings rapidly and cost-effectively through a dual strategy that integrates scaled Bitcoin mining operations with disciplined at-market purchases," Eric Trump, Co-founder and Chief Strategy Officer of American Bitcoin, said in the press release.
American Bitcoin describes itself as focused on building "America’s Bitcoin infrastructure backbone" and provides institutional-grade exposure to bitcoin through its business model.
The company indicated it plans to make available on its website and social media channels certain materials and updates regarding its bitcoin holdings, SPS, and related performance metrics.
One bitcoin equals 100 million satoshis, which is the smallest unit of bitcoin. The SPS metric is designed to offer investors visibility into their indirect ownership of bitcoin through their equity in the company.
In other recent news, American Bitcoin Corp. has significantly increased its Bitcoin holdings by acquiring approximately 1,414 Bitcoin, bringing its total to about 3,865 Bitcoin. Additionally, the company has expanded its mining operations, boosting its installed Bitcoin mining hashrate from 10 exahash per second (EH/s) to 24 EH/s. This expansion was achieved through the acquisition and energization of approximately 14 EH/s across about 16,300 ASIC servers. In another development, American Bitcoin Corp. has appointed KPMG LLP as its new independent registered public accounting firm for the fiscal year ending December 31, 2025, following the dismissal of RBSM LLP. The decision to appoint KPMG was made by the company’s Audit Committee. Meanwhile, AlphaTON Capital Corp., formerly known as Portage Biotech Inc., announced plans to acquire approximately $100 million in TON tokens as part of its rebranding strategy. The company has appointed Brittany Kaiser, a digital assets expert, as its Chief Executive Officer and Board Member. These developments reflect ongoing strategic shifts and expansions within the digital asset sector.
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