American Bitcoin, a Bitcoin mining firm backed by President Donald Trump’s two eldest sons, Eric Trump and Donald Trump Jr., has quietly built up a 215 BTC reserve since its April 1 debut.
The company, formally known as ABTC, is positioning itself not just as another mining venture but as a long-term accumulator of Bitcoin (BTC), it disclosed in a June 6 filing with the US Securities and Exchange Commission (SEC).
The stash, currently worth over $23 million, was not previously disclosed. “ABTC considers its reserve a core strategic asset, managed adaptively to support balance sheet strength with a view to enhancing long-term stockholder value,” the firm stated.
The firm added that its accumulation strategy is open-ended, meaning no fixed BTC target exists. Instead, it continually assesses market conditions to raise capital when favorable and expand its holdings.
“Bitcoin accumulation is not a side effect of ABTC’s business. It is the business. ABTC’s layer 2 strategy is designed to transform its Bitcoin production into long-term Bitcoin ownership,” it wrote.
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Mining without owning the real estate
In the filing, ABTC said it invests directly in mining rather than investing in physical infrastructure. The firm owns over 60,000 miners, primarily from Bitmain and MicroBT, deployed across three Hut 8-managed facilities in New York, Alberta and Texas.
These miners operate at a combined hashrate of 10.17 exahashes per second and average efficiency of 21.2 joules per terahash. The partnership with Hut 8 allows ABTC to keep overhead low while scaling output and preserving capital flexibility.
ABTC’s miners contribute computing power to established pools like Foundry and Luxor. Daily mining rewards are distributed based on hashrate contributions, with pool fees kept below 1%.
At its core, ABTC runs on what it calls a three-tiered strategy. This includes building a cost-efficient mining operation, leveraging capital to grow its BTC reserves, and playing an active role in Bitcoin’s broader ecosystem.
ABTC stores its Bitcoin with Coinbase Custody in cold wallets, applying multifactor authentication and whitelisted withdrawal protocols to improve security, the firm said.
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American Bitcoin to go public via Gryphon merger
On May 12, American Bitcoin announced plans to go public through a merger with Gryphon Digital Mining. The deal will be structured as a stock-for-stock transaction, with the merged entity operating under the American Bitcoin brand.
Eric Trump will sit on the company’s board following the merger. Furthermore, American Bitcoin is majority-owned by Hut 8, which will retain a management role post-merger.
Under the agreement, current American Bitcoin shareholders will hold approximately 98% of the new company. Hut 8 will continue managing mining infrastructure and operations, with expectations of generating stable revenue through long-term commercial agreements.
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