American Bitcoin Corp. (ABTC), the Miami-based Bitcoin miner co-founded by Eric Trump and majority-owned by Hut 8 Corp., has surpassed 7,000 BTC in its corporate treasury as of March 30, 2026, cementing its rank as the 16th largest public holder of Bitcoin globally. The company announced the milestone via its official X account on Monday, noting that reserves had nearly tripled since its Nasdaq listing in September 2025. At Bitcoin’s current price of approximately $67,500, the holdings are valued at roughly $473 million to $475 million, according to bitcointreasuries.net data.
Reserve Growth and Mining Operations
ABTC closed 2025 with around 5,401 BTC. The treasury steadily climbed: exceeding 6,000 BTC by mid-February 2026, reaching approximately 6,500 BTC in early March, and 6,899 BTC by mid-March before crossing the 7,000 mark. The company stated that its satoshi-per-share metric has more than doubled since its Nasdaq debut.
Approximately one-third of the holdings come from proprietary mining operations, while the remaining two-thirds reflect strategic open-market purchases. ABTC operates about 89,000 ASIC miners in a fleet generating roughly 28.1 EH/s of hashrate, after acquiring 11,298 new ASICs in early March 2026. The company goes public via a merger with Gryphon Digital Mining and is majority-owned by Hut 8. Eric Trump, co-founder and Chief Strategy Officer, has promoted the firm’s approach of holding both mined and purchased Bitcoin rather than selling it, describing ABTC as building the backbone of American Bitcoin infrastructure.
Stock Performance and Dilution Woes
Despite the rapidly growing Bitcoin treasury, ABTC shares have suffered a dramatic decline. The stock debuted near the peak of Bitcoin’s 2025 rally and has since lost approximately 80% to 90% of its value from a post-listing high of around $9, trading at roughly $0.85 to $0.90 by late March 2026.
Multiple factors explain the slide. The company has raised capital through equity offerings, causing outstanding shares to balloon beyond 900 million. Critics highlight that dilution has eroded per-share value even as BTC reserves grow. Additionally, ABTC reported a net loss of $59 million in Q4 2025, driven by a non-cash mark-to-market charge of $227 million on its Bitcoin holdings under the new FASB fair-value accounting rules. Bitcoin fell about 23% in Q4 2025 from its all-time high above $126,000, triggering paper losses despite ABTC not selling any coins. Q4 revenue reached $78 million, with mining gross margins near 53%.
The expiry of lock-up periods at the end of 2025 triggered a 35% to 39% one-day decline on heavy volume. ABTC has a beta of roughly 3.8, making it highly sensitive to Bitcoin price movements and broader crypto sentiment. Analyst consensus is around “Hold” with a target price near $4, though some give a “Sell” rating citing valuation concerns relative to projected cash flow. The stock trades more like a leveraged mining play than a direct Bitcoin proxy.
ABTC’s leadership maintains that expanding the Bitcoin treasury is the primary long-term value driver. Board members have purchased shares during the price decline. The company reiterated that its reserves “are still growing.”