American Bitcoin Corp. (NASDAQ: ABTC) has become the 22nd largest Bitcoin treasury company, surpassing GameStop Corp (NYSE: GME) in holdings. On Dec. 10, ABTC bought 416 Bitcoin worth $38 million, boosting its total stash to 4,783 BTC, slightly ahead of GameStop’s 4,710 BTC. Despite this, ABTC’s stock fell 4.39% to $1.96.

Eric Trump, co-founder of American Bitcoin, highlighted the company’s rapid expansion efforts, with a 17% rise in Satoshis Per Share (SPS) in just over a month. The company aims to become one of the largest and fastest-growing BTC accumulators since its Nasdaq debut three months ago. Trump emphasized the firm’s cost structure and margin profile for long-term value creation.

GameStop’s Bitcoin holdings have yet to pay off, with a $9.2 million loss on its digital asset portfolio during the period. Maintaining a 4,710 BTC position, the video game retailer added Bitcoin to its balance sheet in March, marking a strategic pivot. American Bitcoin’s shares plunged over 50% in December amid Bitcoin’s broader sell-off, despite most shareholders being under a lockup period until March 3, 2026.

Read more at Yahoo Finance: Trump-backed crypto stock stumbles despite beating GameStop