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The BTC mining firm with Trump family ties, American Bitcoin Corp, is maintaining its significant Bitcoin stockpile despite many companies selling their holdings.
The firm is climbing up the BTC reserve poll, as Metaplanet also received a $255 million cash injection that the company plans to use to substantially expand its Bitcoin holdings.
American Bitcoin and Metaplanet are primed to climb up the rankings as others slow down. | Source: BitcoinTreasuries.netExpansion plans for American Bitcoin and Metaplanet reserves
American Bitcoin Corp (ABTC) currently holds a balance of 7,000 BTC, valued at approximately $464.14 million. Details about the firm’s cost basis and profit/loss figures are not released publicly.
American Bitcoin has an enterprise value of $922 million, significantly higher than its Bitcoin holdings of $464 million. This indicates that investors are considering the company’s potential for future Bitcoin accumulation and its ability to compete in the market.
The firm’s basic market capitalization sits at $748 million, giving it a basic Market-Net-Asset-Value (mNAV) ratio of 1.61. This means that American Bitcoin Corp’s stock is trading at a 61% premium over the value of its Bitcoin holdings.
On the other hand, Metaplanet Inc., often called “Asia’s MicroStrategy,” has reportedly received the $255 million payment from its previously announced global institutional investor raise, and the company intends to use the money to purchase Bitcoin, despite being down about 38.46% on its current holdings.
At current prices, Metaplanet will be able to acquire over 3,800 BTC with the capital, making it the third-largest publicly traded corporate holder of Bitcoin. Metaplanet’s current holdings stand at 35,102 BTC, valued at $2.33 billion, with an average purchase price of $107,716 per BTC. The firm’s diluted market cap is $3 billion, with a diluted mNAV of 1.15.
Is Bitcoin losing institutional ground to AI?
While Metaplanet and American Bitcoin Corp. continue to accumulate Bitcoin, other firms, particularly miners, have been selling portions of their reserves to either fund infrastructure or support their entry into other business ventures, like artificial intelligence and high-performance computing.
Core Scientific, for example, sold approximately 1,900 Bitcoins for $175 million in January 2026 and has plans to liquidate most of its remaining holdings from its peak of 9,618 BTC. The company is now focusing on AI infrastructure, and has signed a $10.2 billion, 12-year contract with CoreWeave.
Cango recently sold 4,451 Bitcoins, about 60% of its reserves, for $305 million. The company hired a former Zoom executive as its AI chief technology officer and began deploying GPU computing nodes across its mining sites.
Bitfarms, now rebranding to Keel Infrastructure, saw its reserves drop from a peak of 3,301 BTC to 1,827 BTC. The company’s chief executive made it official, stating that the company is “no longer a bitcoin company.”
Hut 8 announced that Bitcoin is no longer a long-term focus, and its holdings of roughly 13,696 BTC are set to be gradually reduced. The company has since signed a $7 billion, 15-year lease with Fluidstack for 245 megawatts of AI infrastructure in Louisiana.
Analysts project that at this rate, AI could contribute up to 70% of revenue for some mining firms by late 2026.
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