American Bitcoin Corp. (ABTC), a majority-owned subsidiary of Hut 8 Corp. with ties to U.S. President Donald Trump's family, has significantly expanded its bitcoin reserves ahead of a planned Nasdaq listing. According to Hut 8's quarterly filing, ABTC purchased 1,726 bitcoin between July 1 and Aug. 6, 2025, at a weighted average price of approximately $119,120 per coin, for a total outlay of $205.6 million. The acquisition brings ABTC's total bitcoin holdings to 2,130 BTC, valued at roughly $257 million at current market prices.
Strategic Reserve Build-Up
The purchases were disclosed in Hut 8's second-quarter report, which also revealed that the parent company held a strategic bitcoin reserve of 10,667 coins (worth $1.1 billion) as of June 30. ABTC's latest addition is incremental to that figure and aligns with a broader capital strategy that includes an amended bitcoin-backed credit facility with Coinbase, now expanded to $130 million.
ABTC operates as a dedicated anchor tenant for Hut 8's power and digital infrastructure segments. The Trump-linked entity has been positioned at the center of Hut 8's restructuring of its mining operations, which has involved new institutional partnerships and a shift toward contracted revenue streams. The company previously completed an oversubscribed private placement, raising about $220 million in cash and bitcoin.
IPO Timeline and Market Impact
Hut 8 announced that ABTC plans to go public through a merger with Gryphon Digital Mining. The combined entity is expected to trade on the Nasdaq under the ticker "ABTC". The timing of the bitcoin purchase—just weeks before the anticipated listing—has drawn attention from analysts who view it as a bullish signal for institutional adoption.
According to data from bitcointreasuries.net, ABTC's 2,130 BTC stake now surpasses Exodus Movement Inc.'s holdings of 2,087 BTC ($251.8 million), making it the 26th largest corporate bitcoin treasury globally. The ranking places ABTC ahead of several publicly traded companies and highlights the growing influence of politically connected entities in the cryptocurrency space.
Hut 8's CEO has emphasized that the company will continue leveraging its infrastructure capacity to expand bitcoin reserves while supporting both mining and high-performance computing operations. The latest acquisition underscores the firm's commitment to accumulating digital assets as a core component of its balance sheet strategy.
Industry observers note that the Trump family's involvement adds a political dimension to ABTC's market moves, potentially influencing regulatory sentiment as the U.S. government considers clearer guidelines for digital assets. With the Nasdaq listing on the horizon, all eyes will be on ABTC's next steps in building what could become one of the largest corporate bitcoin treasuries.