Key Takeaways
DDC Enterprise Limited (NYSEAMERICAN: DDC) issued a correction to its fiscal-year 2025 operating expenses and confirmed it has more than doubled its bitcoin holdings since year-end to 2,383 BTC, valued at approximately $182 million as of April 21.
"2025 was the year we built the foundation for all of it," Norma Chu, Founder, Chairwoman, and CEO of DDC, said in a shareholder letter. The company's evolution includes a growing Asian food business, a world-class Bitcoin treasury, and now, a proprietary AI infrastructure to manage it.
In a correction to its April 21 press release, the company stated that for fiscal-year 2025, core sales and marketing expenses decreased by 54 percent and general and administrative expenses fell by 44.4 percent. This revised figures from the original release which reported a 61.7 percent and 15.9 percent decrease, respectively. The company achieved its first full year of positive adjusted EBITDA at $0.4 million on record revenue of $39.2 million.
The company's primary strategic focus is the expansion of its bitcoin treasury. Holdings have grown from 1,181 BTC at the end of 2025 to 2,383 BTC as of April 21, 2026, placing DDC among the top 30 publicly traded corporate bitcoin holders. Chu outlined a long-term "North Star" goal of 10,000 BTC, with a conservative target of reaching 5,000 BTC by the end of the year.
To manage its growing treasury, DDC launched the DDC Treasury Intelligence Platform, an AI-driven operating system. Management said the platform is designed to support, rather than replace, human judgment by improving the quality and consistency of capital allocation decisions. At its core is the DDC Treasury Graph, a knowledge base that unifies the company's bitcoin positions, market data, and historical decisions into a continuously learning system.
"Most companies buy Bitcoin. DDC is building the AI operating system for how corporations and treasury teams can manage it," Chu stated.
While the food business remains the company's operational anchor, expected to grow 10 to 15 percent annually, the focus on bitcoin accumulation is clear. The company reported a net loss of $48.3 million for the year, which it attributed primarily to $31.2 million in non-cash share-based compensation related to building its treasury team and capital markets program. To fund further accumulation, DDC has over $275 million available through a convertible note facility and a separate $200 million equity line.
This article is for informational purposes only and does not constitute investment advice.
