American Bitcoin Corp. (NASDAQ:ABTC) shares rose 5.7% in premarket trading Monday after the company announced it had acquired approximately 1,414 Bitcoin, bringing its total Bitcoin holdings to 3,865 as of October 24, 2025.
The Bitcoin accumulation platform—which focuses on building U.S. Bitcoin infrastructure—said its total holdings include coins from both mining operations and strategic purchases. A portion of these assets is held in custody or pledged for miner purchases under an agreement with Bitmain.
As part of the announcement, American Bitcoin introduced a new performance metric called Satoshis Per Share (SPS), which aims to give investors more transparency into their indirect Bitcoin exposure through company shares. SPS stood at 418 as of October 24, representing a 52% increase since September 1.
“We believe one of the most important measures of success for a Bitcoin accumulation platform is how much Bitcoin backs each share,” said Eric Trump, Co-founder and Chief Strategy Officer of American Bitcoin. “As part of that conviction, we are focused on providing transparent updates as we aim to increase our holdings.”
The company also highlighted its vertically integrated mining operations as a key advantage over traditional Bitcoin treasury vehicles. According to Asher Genoot, Executive Chairman, this structure allows American Bitcoin to “reduce our average cost per Bitcoin to drive a cost advantage over vehicles that buy exclusively on the open market.”
The SPS figure is calculated by converting the company’s total Bitcoin holdings into Satoshis (1 Bitcoin = 100 million Satoshis) and dividing that number by total outstanding shares.