American Bitcoin, a Bitcoin-mining unit majority-owned by Hut 8 and backed by the Trump family, has accumulated 215 BTC worth approximately $23.6 million as of May 31, according to a recent SEC filing. The company was formed in March through a merger between American Data Center, owned by Eric Trump and Donald Trump Jr., and Hut 8. The Trump brothers hold a 20% stake, while Hut 8 owns 80%. American Bitcoin plans to go public in the third quarter via a merger with Gryphon Digital Mining and will trade on Nasdaq under the ticker ABTC. The company views Bitcoin accumulation as its core business strategy, with an open-ended approach to increasing its holdings based on market conditions. This move aligns with a broader trend of companies adding Bitcoin to their corporate treasuries. Although separate from the Trump Organization, American Bitcoin may collaborate with World Liberty Financial, a DeFi platform launched by Trump's eldest sons.

American Bitcoin, Hut 8’s majority-owned Bitcoin-mining unit backed by the Trump family, has accumulated 215 BTC since its launch in April, according to a recentdisclosurefrom the company to the U.S. Securities and Exchange Commission (SEC).In theJune 6 SEC filing, the digital asset mining firm revealed it was holding 215 Bitcoin in its reserves as of May 31. Based on current prices, the stash is worth $23.6 million. According to data from CoinMarketCap, Bitcoin was changing hands at $109,605 at publication time.This marks the company’s first sizable Bitcoin acquisition since announcing a Bitcoin treasury play, pioneered by Michael Saylor’s Strategy — which started accumulating BTC in 2020.American Data Center, owned by Eric Trump and Donald Trump Jr., merged with Bitcoin mining company Hut8 to form American Bitcoin in March. The Trump brothers own 20% of American Bitcoin, while Hut 8 holds the remaining 80%.The newly established entity plans to go public as early as the third financial quarter of this year through a stock-for-stock merger with Gryphon Digital Mining and will trade on the Nasdaq under the ticker symbol ABTC.“ABTC considers its reserve a core strategic asset, managed adaptively to support balance sheet strength with a view to enhancing long-term stockholder value. Bitcoin accumulation is not a side effect of ABTC’s business. It is the business,” the firm said.The company added that its accumulation strategy is open-ended, suggesting that it has no fixed BTC target. Instead, it will continuously assess market conditions to raise capital when favorable and boost its holdings of the foremost cryptocurrency.American Bitcoin’s strategy to grow its Bitcoin stash comes as a slew of public and private companies increasingly add the asset to their corporate treasuries. Companies includingTrump Media,GameStop, and Champions League winnersParis Saint-Germainbecame the latest to announce or advance their Bitcoin treasuries, joining the likes ofSemler Scientific, Cantor-backedTwenty One, andMetaplanet.Though American Bitcoin is separate from the Trump Organization, it may eventually team up with World Liberty Financial — the decentralized finance (DeFi) platformlaunchedby Trump’s eldest sons late last year.

American Bitcoin, supported by the Trump family, has accumulated Bitcoin holdings valued at 23.60 million USD.