American Bitcoin (ABTC), a Bitcoin mining and treasury company with backing from Donald Trump's sons, has announced a substantial acquisition of Bitcoin. The company stated that it purchased approximately 416 more BTC since its last update on December 2nd.
This latest purchase, valued at approximately $38.3 million based on current market prices, has increased American Bitcoin's total holdings to 4,783 BTC, which is valued at approximately $440 million as of December 8th. This acquisition further solidifies American Bitcoin's standing among the top 25 publicly traded companies holding significant BTC reserves.
The company has rapidly expanded its reserves, following a purchase of 363 BTC in the preceding week. Additionally, American Bitcoin reported that its proprietary "satoshi per share" indicator has seen a month-on-month increase of over 17%, reaching 507. The company introduced this metric to provide investors with a more direct measure of their indirect exposure to Bitcoin through share ownership.
Company Strategy and Future Outlook
Eric Trump, who serves as co-founder and strategy director for American Bitcoin, commented on the company's rapid growth and strategic focus.
“It has only been three months since our listing on Nasdaq, and in that time we have become one of the largest and fastest-growing Bitcoin accumulators. Our cost structure and margin profile strongly position us for long-term value creation. We are focused on advancing our strategy and maintaining this momentum.”
American Bitcoin operates as a subsidiary where Hut 8 (HUT) holds a majority stake. The company's public debut occurred in September through a reverse merger with Gryphon Digital Mining, an all-equity transaction. This resulted in the formation of American BTC, with the Trump brothers collectively holding approximately 98% of the combined shareholder stake.