Shares of GD Tradition Group (Nasdaq: GDC) surged almost 15% Wednesday after the corporate’s board authorized the sale of its 7,500 bitcoin holdings, presently valued at roughly $510 million, greater than double the agency’s $210 million market capitalization.
Shares have since fallen a bit and are buying and selling up 10% on the day.
The board mentioned proceeds from the sale would fund a beforehand introduced $100 million share repurchase program disclosed on Feb. 18.
This system is anticipated to be executed over the following six months, with administration retaining flexibility to promote bitcoin in a number of transactions as market circumstances dictate. The corporate emphasised it’s underneath no obligation to promote a certain quantity and may alter or droop the plan at any time.
The choice highlights a putting valuation hole: GD Tradition’s bitcoin alone exceeds its whole fairness worth. Its market cap-to-net asset worth ratio (mNAV) sits round 0.5, among the many lowest for company bitcoin holders. The corporate’s inventory has misplaced about two-thirds of its worth since final yr, largely monitoring bitcoin’s decline from file highs above $126,000.
Nevada-based GD Tradition operates by way of subsidiaries AI Catalysis and Shanghai Xianzhui Expertise Co., specializing in AI-driven digital human know-how and live-streaming e-commerce. With 7,500 BTC on its steadiness sheet, the corporate ranks among the many 15 largest company bitcoin treasuries.
GD Tradition acquired its bitcoin stash following the 2025 buy of Pallas Capital Holding, which was partly financed by way of the issuance of 39.18 million shares. Earlier in 2025, the corporate bought as much as $300 million in inventory to fund a broader crypto treasury technique, which included purchases of bitcoin and the TRUMP memecoin.
The corporate reported internet revenue of $9.6 million for the 9 months ended Sept. 30, 2025, a turnaround from a $14.1 million loss in 2024. Regardless of the optimistic earnings, GD Tradition’s shares stay underneath stress amid bitcoin’s broader sell-off.
Companies are promoting bitcoin
Different company bitcoin holders have additionally adjusted their treasuries not too long ago. Bitdeer bought its total BTC reserve to fund AI information middle growth, whereas Riot Platforms diminished its holdings late final yr.
GDC shares had been buying and selling up about 10% to $3.70 at publication time, reflecting a modest rebound within the value of bitcoin to close $69,000.
Different crypto‑uncovered shares are rallying at this time as nicely in tandem with Bitcoin’s rebound. Coinbase (COIN) surged over 13%, Technique (MSTR) over 8%, and Robinhood (HOOD) over 6%.
