American Bitcoin Accumulates 215 BTC Valued at $23 Million

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. This disclosure comes as part of the company’s core business objective and strategy, which includes details of a proposed merger between Gryphon Digital Mining and American Bitcoin.

The company stated in its disclosure that “Bitcoin accumulation is not a side effect of ABTC’s business. It is the business.” American Bitcoin aims to pursue Bitcoin accumulation through efficient mining operations, reserve expansion, and ecosystem engagement. This strategic approach is designed to maximize long-term Bitcoin ownership per dollar of capital deployed, creating what the company believes is a sustainable competitive advantage in below-market Bitcoin production.

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.

American Bitcoin 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. This strategic approach underscores the company's commitment to transparency and its significant involvement in the Bitcoin mining industry. The strategic partnerships and advanced mining equipment suggest that American Bitcoin is well-positioned to navigate the competitive landscape of cryptocurrency mining. The company's disclosure of its Bitcoin holdings underscores its role as a key player in the industry, leveraging its resources and partnerships to maintain a strong presence in the market.