American Bitcoin Adds 363 Bitcoin, Lifting Treasury to 4,367 BTC

• American Bitcoin bought 363 BTC; holdings reached 4,367 BTC as of Dec. 2.
• Stock fell 38% after share unlocked, then rose 9.13% to close at $2.39.
• Q3 revenue hit $64.2M; net income was $3.5M, versus a $0.6M loss last year.

A new BTC treasury reserve has been added by American Bitcoin, a mining and accumulation company co-founded by Donald Trump Jr. and Eric Trump. The company said it had bought 363 BTC. All holdings totaled 4,367 BTC as of Dec. 2.

The announcement is the latest update from the company’s on Wednesday. That earlier disclosure, dated Nov. 7, mentioned 4,004 BTC. The more recent figure indicates that the treasury was built up over that period.

Strategic Bitcoin Accumulation

The company connected the decision to its broader approach. “Strategic accumulation goes on,” said a post Wednesday on X. The statement not include purchase timing for the holdings beyond the date of reporting.

The disclosure came after a tumultuous week for the stock. Shares fell 38 percent on Tuesday, after its pre-merger private placement shares unlocked. Its stock closed Tuesday at $2.19. Trading shifted on Wednesday. Shares rose 9.13%, to close at $2.39, the company said. Eric Trump said they had anticipated the volatility.

Also Read: Trump Family-Backed American Bitcoin Set to Debut on Nasdaq After Merger with Gryphon

He is confident in the business fundamentals. The company cited its third-quarter results. Its revenue rose and it returned to net income. American Bitcoin said third-quarter revenue increased to $64.2 million. A year before, it posted $11.6 million. The company also recorded $3.5 million in net income.

BTC Buy Came During November Dip

In the quarter a year earlier, it reported a net loss of $0.6 million. The company not elaborate further in the announcement. It showcased the numbers as proof that it had raised their game.

The purchase of BTC took place in November, when the market was down, the firm said. It showed a BTC that had plummeted to close to $82,000. It noted a high of about $126,000 a month earlier.

The increase in the company’s holdings meant implied purchases during that dip. The announcement not specify an average purchase price. Nor did it disclose how much money went toward the additional BTC.

Bitcoin later rallied, the same update said. The cryptocurrency gained 0.64% during the last 24 hours. It was exchanging hands around $93,332 as of the time cited.

The new reported treasury sum also makes American Bitcoin one of several companies on this planet holding a few thousand BTC. The number applies only to Dec. 2. The company not indicate whether it intends to make additional purchases.

Also Read: American Bitcoin Corp Announces $23 Million Bitcoin Reserve