GD Culture (GDC) news: Management wins board approval to sell BTC
GD Culture Group (GDC) has received board approval to sell part of its 7,500 bitcoin reserve to help fund a previously announced stock repurchase program, the company said.
The board authorization allows management to decide when and how to carry out the bitcoin sales. GD Culture emphasized it’s not obligated to sell any set amount and can alter or halt the plan at any time.
Facing a sharp decline in the stock price as the price of bitcoin has tumbled in recent months, the board approved a $100 million repurchase program earlier this month.
The company’s bitcoin holdings are currently worth about $497 million, according to data from CoinGecko. That value has dropped over time, with GD Culture carrying an unrealized loss of $344 million, down nearly 41% from its total acquisition cost of $841.5 million.
The company got its large bitcoin stash through the acquisition of Pallas Capital Holding. The move was, at the time, financed through the issuance of 39.18 million shares.
Other companies have also started divesting their bitcoin holdings. Earlier this week, Bitdeer sold all of its BTC to fund a move into AI data centers, while Riot Platforms reduced its BTC balance late last year.
GDC shares are higher by 7% on Wednesday alongside a modest bounce in the price of bitcoin to above $67,000. They remain down by nearly 70% from their September 2025 peak.
Content Original Link:
" target="_blank">
