- After only two months of mining operations, American Bitcoin announces a $23M BTC reserve.
- ABTC plans public listing via Gryphon merger with ticker $ABTC expected by Q3 2025.
- The firm operates 60,000 miners across three sites targeting long-term BTC accumulation.
American Bitcoin Corp (ABTC), a Bitcoin mining company supported by Eric Trump and Donald Trump Jr., has amassed a notable Bitcoin reserve in slightly over two months. As stated in a filing with the U.S. Securities and Exchange Commission on June 6, ABTC has obtained 215 Bitcoin (BTC), which is currently worth almost $23 million. This reserve, previously undisclosed, represents the company’s strategy since its inception on April 1, 2025.
ABTC positions its Bitcoin reserve as a core strategic asset. The company confirmed in its filing that “Bitcoin accumulation is not a side effect of ABTC’s business. It is the business.” Rather than holding a fixed Bitcoin target, the company will continue to adapt to market conditions and expand its holdings when opportunities arise. Under this approach, efforts are made to enhance ABTC’s assets while considering the long-term interests of its shareholders.
The filing also outlined that ABTC plans to use its growing reserve for long-term stockholder benefits. The firm’s assets are safely stored by Coinbase Custody which implements strong security measures such as cold storage and multifactor authentication to safeguard its digital assets.
Strategic Model and Mining Operations Set ABTC Apart
American Bitcoin is different from most traditional mining companies because it works differently. ABTC focuses on mining equipment and partnerships instead of investing in real estate or infrastructure. The mining company has more than 60,000 rigs developed by top manufacturers such as Bitmain and MicroBT. These machines are deployed across three facilities in Niagara Falls, New York, Medicine Hat, Alberta, and Orla, Texas, which Hut 8 manages.
The company’s mining operation generates a combined hashrate of 10.17 exahashes per second with an average efficiency of 21.2 joules per terahash. ABTC partners with mining pools, including Foundry and Luxor, offering daily rewards as the pool fees remain below 1%. By outsourcing its infrastructure management, ABTC can boost its output, save on operational expenses and maintain capital efficiency.
According to the SEC filing, the company’s strategy features three layers: making mining cost-effective, scaling the Bitcoin reserve, and participating in the broader Bitcoin ecosystem. American Bitcoin expects its operational model to increase its BTC holdings per share, using both public markets and strategic financing.
Merger with Gryphon Digital Mining and Future Public Listing
In a move to accelerate its growth, American Bitcoin announced a merger with Gryphon Digital Mining. The transaction, structured as a stock-for-stock deal, will allow ABTC to go public under the ticker symbol $ABTC as soon as the third quarter of 2025. Eric Trump is expected to join the board following the merger.
After the merge, the American Bitcoin brand will manage the combined company, and current ABTC holders will have approximately 98% of the new company. Hut 8 will continue working on the company’s mining activities to maintain a strong infrastructure management and stable revenue.