- American Bitcoin, backed by Eric and Donald Trump Jr., has bought 215 BTC — nearly $24 million worth — as part of its treasury strategy.
- The company plans to go public via a merger with Gryphon Digital Mining, trading on Nasdaq as “ABTC.”
- Operations are currently underway in three locations, with mining supported by Hut 8 and future growth aimed at expanding its Bitcoin holdings and influence.
American Bitcoin, the mining startup backed by Eric Trump and Donald Trump Jr., just made its first big move — scooping up 215 Bitcoin worth close to $24 million as of May 31. The details surfaced in a U.S. Securities and Exchange Commission (SEC) filing dated June 6.
A Michael Saylor-Style Treasury Play
Following in the footsteps of Michael Saylor’s Bitcoin-heavy treasury strategy, American Bitcoin seems to be leaning into the idea that BTC is more than just an asset — it’s a foundation. This initial purchase marks the first major step in that direction, with the company signaling there’s more to come.
The firm’s structure revolves around three focus areas: mining Bitcoin below market cost, building up a BTC treasury, and positioning itself as a leader in the crypto ecosystem. Bold ambitions for a company that, at the moment, has just one full-time employee on the books.
Public Listing on the Horizon
American Bitcoin isn’t just stockpiling BTC — it’s also planning to hit public markets. The firm is preparing for a stock-for-stock merger with Gryphon Digital Mining, aiming for a Nasdaq debut under the ticker “ABTC” in the second half of the year.
Operations are currently spread across three locations: Niagara Falls, NY; Medicine Hat, Alberta; and Orla, Texas. These sites are managed through a service agreement with partner Hut 8, a known player in the crypto mining space.
It’s an ambitious play — one backed by familiar political names and a strategy borrowed from some of Bitcoin’s loudest corporate backers.
