Supported by Donald Trump's two eldest sons, Eric Trump and Donald Trump Jr., the Bitcoin mining company American Bitcoin has quietly established a reserve of 215 Bitcoins (BTC) since its debut on April 1, 2025.
The company's official name is ABTC, and in documents submitted to the U.S. Securities and Exchange Commission (SEC) on June 6, it disclosed that it is not just another mining company, but is positioned as a long-term accumulator of Bitcoin (BTC).
This reserve, valued at over $23 million, had not been previously disclosed. ABTC stated, "The company views its reserves as a core strategic asset, aiming to enhance long-term shareholder value through adaptive management to support the strength of its balance sheet."
The company added that its accumulation strategy is open-ended, meaning there is no fixed BTC target. Instead, it continuously assesses market conditions to raise funds and expand its holdings when favorable.
"Bitcoin accumulation is not a byproduct of ABTC's business; it is the core business. ABTC's secondary strategy aims to convert its Bitcoin production into long-term Bitcoin holdings," the document stated.
In the filing, ABTC indicated that it directly invests in mining rather than in physical infrastructure. The company owns over 60,000 mining machines, primarily from Bitmain and MicroBT, deployed across three facilities in New York, Alberta, and Texas managed by Hut 8.
These mining machines have a total hash rate of 10.17 EH/s, with an average efficiency of 21.2 joules per terahash. The partnership with Hut 8 allows ABTC to maintain low overhead while increasing output and maintaining capital flexibility.
ABTC's mining machines contribute hash power to well-known mining pools such as Foundry and Luxor. Daily mining rewards are distributed based on hash power contribution, with pool fees kept below 1%.
ABTC's core operations are based on its so-called three-tier strategy. This includes establishing cost-effective mining operations, leveraging capital to increase BTC reserves, and playing an active role in the broader Bitcoin ecosystem.
ABTC stated that its Bitcoin is stored in cold wallets at Coinbase Custody, utilizing multi-factor authentication and whitelisted withdrawal protocols to enhance security.
On May 12, American Bitcoin announced plans to go public through a merger with Gryphon Digital Mining. The transaction will be conducted in a stock-for-stock format, with the merged entity operating under the American Bitcoin brand.
After the merger, Eric will join the company's board of directors. Additionally, a majority of American Bitcoin's equity is held by Hut 8, which will retain a management role post-merger.
According to the agreement, current American Bitcoin shareholders will hold approximately 98% of the new company. Hut 8 will continue to manage the mining infrastructure and operations, expected to generate stable income through long-term commercial agreements.
Related: The SEC considers exemption frameworks to promote crypto innovation
Original: “Trump-backed American Bitcoin accumulates 215 Bitcoins (BTC) since April launch”
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