Trump-Backed American Bitcoin Corp Reveals 215 BTC Accumulated Since April 1, 2025
American Bitcoin Corp (ABTC), a privately held Bitcoin mining company backed by Eric Trump and Donald Trump Jr., announced in a June 10 SEC filing that it has acquired 215 Bitcoin (BTC) since commencing operations on April 1, 2025. The reserve is currently valued at approximately $23 million, underscoring the firm's commitment to Bitcoin accumulation. “Bitcoin accumulation is not a side effect of ABTC’s business. It is the business,” the filing states. Furthermore, ABTC has entered into a merger agreement with Gryphon Digital Mining ($GRYP), and the combined entity is expected to begin public trading under the ticker $ABTC as early as Q3 2025.
Three-Layer Strategy: From Mining Engine to Ecosystem Leadership
The SEC disclosure outlines a three-layer strategic plan:
Layer 1: Build the Engine
- ABTC’s foundation rests on “producing Bitcoin below-market cost through a capital efficient, infrastructure-light operating model.” The company owns and operates over 60,000 miners from Bitmain and MicroBt, primarily hosted at Hut 8-managed facilities.
Layer 2: Scale the Reserve
- Since launching on April 1, 2025, ABTC has “accumulated approximately 215 Bitcoin in reserve,” which it treats as a long-term strategic asset. The firm aims to “utilize public markets and strategic financing structures to access efficient capital and leverage that capital to increase its Bitcoin in reserve per share.”
Layer 3: Lead the Ecosystem
- The ultimate goal is to leverage operational scale and mining position to drive industry-wide adoption. “ABTC may pursue opportunities to support protocol development, enhance network infrastructure and contribute to Bitcoin’s resilience and adoption in ways that align with shareholder value creation.”
For mining rewards, ABTC uses Foundry and Luxor pools with sub-1% fees and relies on Coinbase Custody for secure cold storage, featuring multi-factor authentication and strict withdrawal protocols.
Operations, Partnerships, and Public Listing Timeline
ABTC operates across Niagara Falls, NY; Medicine Hat, Alberta, Canada; and Orla, Texas. Its primary strategic partner is Hut 8, which manages the mining facilities. Through these partnerships, ABTC aims to scale its Bitcoin holdings while influencing the broader crypto mining ecosystem. The merger with Gryphon Digital Mining is expected to close in Q3 2025, positioning ABTC as a publicly traded Bitcoin mining company with significant political brand recognition from the Trump family involvement. The company insists its operations are independent of political affiliations, but market analysts note the strategic advantage of such high-profile backing.