American Bitcoin, a newly established Bitcoin mining entity backed by Eric Trump and Donald Trump Jr., has revealed that it has accumulated 215 BTC since its launch in April. The stash is valued at around $23 million at current market prices.
Stacking more Bitcoin is part of the company’s core business objective and strategy, according to a June 10 disclosure with the SEC, which includes details of a proposed merger between Gryphon Digital Mining and American Bitcoin.
“Bitcoin accumulation is not a side effect of ABTC’s business. It is the business,” the company stated in its disclosure. “ABTC aims to pursue Bitcoin accumulation through efficient mining operations, reserve expansion, and ecosystem engagement.”
In March, the sons of President Donald Trump entered into a partnership with Hut 8 to establish American Bitcoin. The entity focuses on enhancing Bitcoin mining capabilities and accumulating BTC as a strategic asset.
In May, American Bitcoin announced plans to go public via a stock-for-stock merger with Gryphon Digital Mining. The merger is expected to close as early as Q3 2025, after which the combined company will operate under the American Bitcoin brand and trade on Nasdaq under the ticker symbol ABTC.
In addition to its Bitcoin reserve, which it categorizes as “Layer 2” in its strategic framework, American Bitcoin’s approach consists of two other key layers, including “Build the Engine” and “Lead the Ecosystem.”
The company plans to produce Bitcoin below market cost through a capital-efficient, infrastructure-light model.
“Bitcoin mining serves as ABTC’s foundational engine for Bitcoin accumulation, not as an end in itself. ABTC’s Layer 1 strategy is designed to maximize long-term Bitcoin ownership per dollar of capital deployed, creating what ABTC believes is a sustainable competitive advantage in below-market Bitcoin production,” per the filing.
ABTC uses third-party mining pools Foundry and Luxor, with pool fees currently below 1% of daily payouts. For asset security, it employs Coinbase Custody solutions, relying primarily on cold storage wallets with multi-factor authentication and strict withdrawal protocols.
Once it establishes robust mining operations and a strong reserve, ABTC intends to foster the growth and adoption of the entire Bitcoin network, according to the filing.
“ABTC may explore partnerships that facilitate broader Bitcoin adoption while maintaining disciplined capital allocation,” American Bitcoin noted.
“ABTC may pursue opportunities to support protocol development, enhance network infrastructure, and contribute to Bitcoin’s resilience and adoption in ways that align with shareholder value creation,” it added.
