Public Companies Quietly Add Bitcoin Despite Flat 2026 Prices

American Bitcoin Corporation said its holdings rose to 5,843 BTC after adding 416 coins, placing it 18th among public Bitcoin treasury companies. Hyperscale Data also disclosed an additional 10 BTC purchase through its subsidiary, while SRx Health Solutions reported roughly $18 million in crypto holdings across Bitcoin and Ethereum. Larger holders continued to accumulate, with Strategy making four January purchases. At the government level, South Dakota lawmaker Logan Manhart reintroduced legislation allowing up to 10% of certain public funds to be invested in Bitcoin, but federal efforts toward a US Bitcoin reserve are still delayed by legal and procedural constraints.

Corporate Bitcoin Treasuries Grow

Public companies are quietly expanding their Bitcoin treasuries in early 2026, even though prices are still range-bound and market sentiment stays cautious. New disclosures this week suggest that corporate accumulation has not slowed, as several firms added to their holdings despite Bitcoin trading largely flat over the past month.

Nasdaq-listed American Bitcoin Corporation revealed on Tuesday that it increased its Bitcoin holdings to 5,843 BTC, after adding 416 coins. The company said it climbed to 18th place among publicly traded Bitcoin treasury holders since debuting on Nasdaq in September of 2025. 

American Bitcoin was not alone in increasing reserves. Hyperscale Data, which describes itself as an AI data center operator “anchored by Bitcoin,” disclosed that its subsidiary Ault Capital Group purchased 10 BTC during the week ending Jan. 25. This lifted the group’s consolidated holdings to 560 BTC. SRx Health Solutions, a healthcare services provider, announced crypto holdings valued at roughly $18 million across Bitcoin and Ethereum.

These disclosures came as Bitcoin traded sideways close to the $88,000 level over the past 30 days, according to CoinCodex data, and it is also still down more than 12% year-on-year. On the bright side, the muted price action has not deterred larger, more established corporate holders. 

BTC’s price action over the past 30 days (Source: CoinCodex)

Strategy, the largest corporate holder of Bitcoin, already made several major purchases in January. The company disclosed four separate acquisitions this month, pushing its overall holdings to 712,647 BTC.

Top Bitcoin treasury companies (Source: BitcoinTreasuries.NET)

Not all companies are moving in the same direction, however. Video game retailer GameStop transferred its entire 4,710-BTC holding to Coinbase Prime last week, which caused speculation that it may be reconsidering its Bitcoin treasury strategy after a prolonged period of market stagnation.

Overall, the disclosures paint a mixed but telling picture. While some firms reassess their exposure, a number of public companies are still quietly accumulating Bitcoin.

South Dakota Revives Bitcoin Reserve Proposal

It is not just companies that want to stock up on Bitcoin. A South Dakota lawmaker reintroduced legislation that would allow the state to invest public funds in Bitcoin. The effort originally stalled roughly a year ago.

Representative Logan Manhart introduced House Bill 1155 on Tuesday, proposing changes to South Dakota’s investment statutes that would permit the State Investment Council to allocate up to 10% of certain public funds to Bitcoin. The bill is very similar to legislation that Manhart sponsored in 2025, with only minor revisions. This could mean that there is still some confidence that the proposal could gain traction this legislative session. Manhart announced the bill on X, and framed the effort as a financial resilience play, writing, “Strong money. Strong state.”

If approved by lawmakers and signed into law, South Dakota would join a small but growing group of US states that have formally moved to recognize Bitcoin as a potential reserve or treasury asset. As of January, only Texas, Arizona, and New Hampshire have enacted laws allowing state governments to invest in Bitcoin or keep cryptocurrencies seized through law enforcement actions. Similar proposals have surfaced in several other states, though many are still under debate or stalled in committee.

Manhart is a Republican representing South Dakota’s 1st District, and took office in January 2025. He has positioned Bitcoin policy as a core part of his legislative agenda. 

At the federal level, uncertainty remains around the creation of a US Bitcoin reserve. President Donald Trump signed an executive order in March of 2025 establishing a Strategic Bitcoin Reserve and a Digital Asset Stockpile, but implementation has proven to be a bit more complex. Patrick Witt, director of the White House Crypto Council, said in January that “obscure legal provisions” were delaying execution, and pointed out that the order did not explicitly authorize the government to purchase Bitcoin. 

Meanwhile, Treasury Secretary Scott Bessent suggested that budget-neutral methods for acquiring Bitcoin could exist, which leaves the door open for future federal action.