Michaela
Bitcoin mining company American Bitcoin (ABTC), backed by President Donald Trump’s sons, Eric Trump and Donald Trump Jr., has quietly accumulated $23 million in Bitcoin as it prepares to go public through a merger with crypto infrastructure firm Gryphon Digital Mining Inc.
A June 6 filing with the U.S. Securities and Exchange Commission (SEC) revealed that ABTC acquired around 215 Bitcoin as of May 31, less than two months after launching operations on April 1, 2025.
The company’s recent accumulation strategy signals its broader ambitions, positioning itself not just as a mining operation but also as a long-term holder of Bitcoin.
“American Bitcoin considers its reserve a core strategic asset, managed adaptively to support balance sheet strength with a view to enhancing long-term stockholder value,” ABTC stated in the filing.
According to the filing, the company views its Bitcoin reserves as a long-term investment and plans to continue adding to its holdings over time. Rather than aiming for a fixed accumulation target, the firm said it monitors market conditions regularly to decide when it may raise more capital to grow its Bitcoin reserve.
“Bitcoin accumulation is not a side effect of ABTC’s business. It is the business. ABTC’s Layer 2 strategy is designed to transform its Bitcoin production into long-term Bitcoin ownership,” the filing stated.
The filing also revealed that American Bitcoin focuses its capital on direct mining operations instead of infrastructure ownership. The company controls more than 60,000 mining machines, primarily sourced from Bitmain and MicroBT. These units are hosted across three facilities managed by Hut 8, located in Texas, New York, and Alberta.
American Bitcoin’s mining fleet delivers a combined hashrate of 10.17 exahashes per second, operating with an average efficiency of 21.2 joules per terahash. By partnering with Hut 8, the company manages to minimize overhead costs while scaling production and maintaining financial flexibility.
The miners contribute computing power to established mining pools such as Foundry and Luxor, with daily rewards distributed proportionally to hashrate contributions. Pool fees are kept under 1%, maximizing returns.
At the heart of ABTC’s approach is a three-pronged strategy: building a cost-effective mining operation, using capital to expand Bitcoin reserves, and actively participating in the wider Bitcoin ecosystem.
The transaction between American Bitcoin and Gryphon is expected to close as early as the third quarter of 2025. Once finalized, existing American Bitcoin shareholders are projected to retain around 98% ownership of the merged entity, with the company maintaining majority control over the outstanding capital stock.
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
