American Bitcoin Acquires 215 BTC Valued at $24 Million

American Bitcoin, a mining firm backed by Eric Trump and Donald Trump Jr., has acquired 215 Bitcoin, valued at nearly $24 million, since its operations began on April 1. This information was disclosed in a June 6 SEC filing. The company, formally known as ABTC, is planning to go public later this year through a stock-for-stock merger with Gryphon Digital Mining. This merger, announced on May 12, 2025, will see American Bitcoin shareholders taking 98% ownership of the new entity, which will retain the American Bitcoin name.

ABTC's business model is unique in that it focuses on Bitcoin ownership as its core strategy, rather than treating it as a byproduct of mining. The firm aims to produce Bitcoin below market cost, leverage capital to expand its treasury, and actively participate in the broader Bitcoin ecosystem. Unlike traditional miners that build and operate their own infrastructure, ABTC contracts out its mining operations. The firm's 215 BTC reserve, held securely with Coinbase Custody, is part of an open-ended strategy. ABTC plans to increase its holdings over time, depending on market conditions and capital availability. This approach is reminiscent of Michael Saylor’s Bitcoin treasury strategy at MicroStrategy, which has influenced several corporate accumulators.

The merger with Gryphon Digital Mining is a significant step for ABTC. Although Gryphon was the acquirer, the deal ensures that American Bitcoin shareholders will have a majority stake in the new entity. This merger is part of ABTC's broader strategy to become a high-leverage proxy for BTC exposure by treating Bitcoin accumulation as its central business model and avoiding high fixed costs. The company aims to become the largest pure-play Bitcoin miner and seeks a Nasdaq listing under the ticker ‘ABTC.’ Despite employing just one full-time employee, ABTC's ambitions extend beyond mining efficiency, positioning itself as a key player in the Bitcoin ecosystem.

This acquisition and merger strategy by American Bitcoin highlights a shift in the approach to Bitcoin mining. By focusing on Bitcoin ownership and leveraging capital to expand its treasury, ABTC is positioning itself as a significant player in the Bitcoin market. The company's strategy of contracting out mining operations allows it to avoid the high fixed costs associated with traditional mining, making it a more flexible and potentially more profitable venture. The merger with Gryphon Digital Mining further solidifies ABTC's position, providing it with the resources and support needed to achieve its ambitious goals.

ABTC's approach to Bitcoin accumulation is not just about holding the cryptocurrency; it is about actively participating in the broader Bitcoin ecosystem. By leveraging capital to expand its treasury and increasing its holdings over time, ABTC aims to become a high-leverage proxy for BTC exposure. This strategy is similar to that of MicroStrategy, which has influenced several corporate accumulators. By treating Bitcoin accumulation as its central business model, ABTC is positioning itself as a key player in the Bitcoin market, with the potential to become the largest pure-play Bitcoin miner.

The merger with Gryphon Digital Mining is a significant step for ABTC, as it provides the company with the resources and support needed to achieve its ambitious goals. The deal ensures that American Bitcoin shareholders will have a majority stake in the new entity, which will retain the American Bitcoin name. This merger is part of ABTC's broader strategy to become a high-leverage proxy for BTC exposure by treating Bitcoin accumulation as its central business model and avoiding high fixed costs. The company aims to become the largest pure-play Bitcoin miner and seeks a Nasdaq listing under the ticker ‘ABTC.’ Despite employing just one full-time employee, ABTC's ambitions extend beyond mining efficiency, positioning itself as a key player in the Bitcoin ecosystem.