American Bitcoin Corp. (NASDAQ: ABTC) said its bitcoin treasury has moved above 7,000 BTC as of late March, placing the Miami-based miner 16th among publicly traded companies by bitcoin holdings. Based on a bitcoin price of around $67,500 cited in the report, the stash is valued at roughly $473 million to $475 million. The company said its holdings have nearly tripled since its Nasdaq listing in September 2025.
How the treasury expanded
The company’s growth has been steady over recent months. ABTC held about 5,401 BTC at the end of 2025, crossed 6,000 BTC in mid-February 2026, reached around 6,500 BTC in early March, climbed to about 6,899 BTC in mid-March, and has now moved past the 7,000 BTC mark. Management also said its satoshis-per-share metric has more than doubled since the public listing.
ABTC said about one-third of its bitcoin has come from self-mining operations, while the remaining two-thirds was accumulated through strategic open-market purchases. After buying 11,298 new ASIC machines in early March 2026, the company now operates roughly 89,000 miners with total hashrate of about 28.1 EH/s.
Backed by Hut 8 and edging past Galaxy Digital
ABTC is majority-owned by Hut 8 Corp. and became public through a merger with Gryphon Digital Mining. Co-founder and chief strategy officer Eric Trump has highlighted the company’s policy of holding, rather than selling, the bitcoin it mines and acquires. He described the business as part of the backbone of U.S. bitcoin infrastructure.
According to the data referenced in the report, ABTC now sits just ahead of Galaxy Digital, which holds around 6,894 BTC. That puts ABTC in a higher position on public-company bitcoin treasury rankings despite being a relatively new listed firm.
Stock pressure remains despite larger bitcoin reserves
The market response has been muted. Shares rose slightly in premarket trading on Monday, but the stock was still trading around $0.85 to $0.90 in late March 2026, down roughly 80% to 90% from post-listing highs near $9.
The report pointed to several reasons for the weakness. ABTC has used at-the-market equity offerings to raise capital, pushing total shares outstanding above 900 million and increasing dilution concerns. The company also reported a $227 million non-cash fair-value loss on its bitcoin holdings under new FASB accounting rules, contributing to a $59 million net loss in the fourth quarter of 2025. During that quarter, revenue reached $78 million and gross margin in the mining segment was close to 53%.
The article also noted that ABTC went public near the peak of the 2025 bitcoin rally. After lockups expired at the end of that year, heavy trading volume helped trigger a one-day drop of 35% to 39%. With a reported beta of around 3.8, the stock has remained highly sensitive to bitcoin price swings and broader crypto sentiment. Analyst consensus is broadly “hold,” with target prices around $4, though some remain cautious because of valuation and cash-flow concerns.