GD Culture Group is a Nasdaq-listed company. It currently has an unrealized loss of $211.8 million on Bitcoin, accounting for 97.9% of its net loss over the same period—but it has not sold a single share.
According to CryptoSlate’s data, the 7,500 BTC on its books have been left completely untouched.
The share structure is even more extreme. After a reverse stock split and adjustment, the number of shares increased to 4.1625 million—18.15 times the level at the end of 2025.
Of that, 99.65% came from cash issuance. With Bitcoin sitting at an unrealized loss, the company’s way of getting cash is to issue more shares.
According to CryptoSlate’s data, the 7,500 BTC on its books have been left completely untouched.
The share structure is even more extreme. After a reverse stock split and adjustment, the number of shares increased to 4.1625 million—18.15 times the level at the end of 2025.
Of that, 99.65% came from cash issuance. With Bitcoin sitting at an unrealized loss, the company’s way of getting cash is to issue more shares.