American Bitcoin builds BTC reserves ahead of IPO

American Bitcoin, backed by Eric and Donald Trump Jr., has accumulated 215 BTC since April and plans to go public through a Gryphon merger. Full strategy revealed.

Trump-backed ABTC accumulates over $23M in BTC

American Bitcoin, launched April 1 with support from Eric Trump and Donald Trump Jr., has amassed 215 BTC — worth over $23 million — as revealed in a June 6 SEC filing.

The company calls this reserve a strategic asset, key to long-term shareholder value. The disclosure marks a shift from pure mining to a focus on accumulation.

ABTC doesn’t set fixed BTC targets. Instead, it adapts based on market trends, raising capital to grow its holdings.

“Bitcoin accumulation isn’t a side effect — it’s the core of our model,” ABTC said, highlighting its vision for long-term BTC ownership.

Outsourcing infrastructure, scaling output

Rather than owning mining sites, ABTC owns 60,000+ miners from Bitmain and MicroBT. These are deployed across Hut 8-managed sites in New York, Alberta, and Texas.

Their combined hashrate reaches 10.17 EH/s, with energy efficiency at 21.2 J/TH. Hut 8 handles operations, minimizing overhead and preserving capital.

Going public via Gryphon merger

On May 12, ABTC announced a stock-for-stock merger with Gryphon Digital Mining. The merged entity will retain the American Bitcoin name.

Eric Trump will join the board, and Hut 8 will remain involved. Post-merger, current ABTC shareholders will control around 98% of the new company.