American Bitcoin Corp. (ABTC), the majority-owned subsidiary of Hut 8 Corp., has aggressively expanded its digital asset holdings by acquiring 1,726 bitcoins during the summer months, lifting its strategic reserve to 2,130 BTC valued at approximately $257 million. The purchases were disclosed in Hut 8's quarterly filing and underscore the company's deepening commitment to building a bitcoin treasury.
Acquisition Details and Treasury Ranking
According to the filing, the acquisitions took place between July 1 and August 6, 2025, at a weighted average price of roughly $119,120 per coin, for a total expenditure of $205.6 million. This move pushes ABTC past Exodus Movement, Inc., which holds 2,087 BTC ($251.8 million), making it the 26th largest bitcoin treasury in the world, according to bitcointreasuries.net. Before this buying spree, ABTC held just over 400 BTC.
Trump Family Ties and Hut 8 Synergy
ABTC is backed by former U.S. President Donald Trump's family and operates as a dedicated anchor tenant for Hut 8's power and digital infrastructure segments. Hut 8 itself reported a strategic bitcoin reserve of 10,667 coins valued at $1.1 billion as of June 30. The ABTC purchases come on top of that figure and align with Hut 8's broader capital strategy, which includes expanding a bitcoin-backed credit facility with Coinbase to $130 million. This facility provides additional liquidity for future deployment.
Path to Nasdaq Listing
Earlier this year, ABTC completed an oversubscribed private placement, raising about $220 million in cash and bitcoin. The company plans to go public through a merger with Gryphon Digital Mining, with the combined entity expected to trade on the Nasdaq under the ticker “ABTC”. This listing would give retail and institutional investors direct exposure to a politically-connected bitcoin treasury company.
Market Implications
ABTC's aggressive accumulation not only cements its position among top corporate bitcoin holders but also highlights a growing trend of mining companies pivoting toward treasury-style strategies. The Trump affiliation adds a unique political dimension that could attract both supporters and skeptics. As the Nasdaq debut approaches, market participants will watch how ABTC manages its reserves and whether it continues to deploy capital into bitcoin amid volatile market conditions.