Catenaa, Thursday, June 19, 2025-American Bitcoin, a newly launched Bitcoin mining firm backed by Eric Trump and Donald Trump Jr., has acquired at least 215 Bitcoin tokens, valued at nearly $24 million as of May 31.
The purchase marks the company’s initial substantial Bitcoin acquisition since announcing a treasury strategy.
The firm disclosed the acquisition in a filing with the U.S. Securities and Exchange Commission dated June 6.
American Bitcoin was formed through a partnership between President Donald Trump’s eldest sons and Bitcoin mining firm Hut 8.
The company plans to go public in the latter half of the year through a stock-for-stock merger with Gryphon Digital Mining. It is expected to trade on the Nasdaq stock exchange under the ticker symbol ABTC.
American Bitcoin stated its primary goal is to build efficient operations to produce Bitcoin below market cost.
These operations will fund ongoing Bitcoin treasury purchases and support its “ecosystem leadership” efforts.
As of the end of May, American Bitcoin operates three facilities in Niagara Falls, New York, Medicine Hat, Alberta, and Orla, Texas, through a services agreement with Hut 8.
The company employs only one full-time employee. Its treasury strategy is reportedly inspired by Michael Saylor’s firm, Strategy.
