GD Culture Group (GDC) has received board approval to sell part of its reserve of 7,500 bitcoins to help fund a previously announced share buyback program, the company said.
Board authorization allows management to decide when and how to conduct bitcoin sales. GD Culture emphasized that it is not obligated to sell any given amount and can modify or stop the plan at any time.
Faced with a sharp drop in share price as the price of bitcoin has fallen in recent months, the board approved a $100 million buyback program earlier this month.
The company’s bitcoin holdings are currently worth around $497 million, according to data from CoinGecko. That value has declined over time, and GD Culture has an unrealized loss of $344 million, nearly 41% less than its total acquisition cost of $841.5 million.
The company obtained its large stash of bitcoins through the acquisition of Pallas Capital Holding. The measure was financed at the time through the issuance of 39.18 million shares.
Other companies have also started selling 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 rose 7% on Wednesday along with a modest rebound in the price of bitcoin above $67,000. They remain almost 70% below their September 2025 peak.
