Trump-linked bitcoin miner American Bitcoin has expanded its corporate treasury to roughly 6,500 BTC ($470 million), placing the company among the largest publicly traded bitcoin holders globally.
Eric Trump, co-founder and chief strategy officer of the company, said in an X post on Wednesday that the firm accumulated more than 500 BTC over the past 21 days, pushing its balance to the new milestone.
Tracking data from Bitcoin Treasuries suggests the company now ranks around 17th among public firms holding bitcoin, just behind Galaxy Digital, rising up the list of some 193 public companies that have adopted some form of bitcoin-focused treasury strategy.
American Bitcoin, which trades under the ticker (ABTC), currently carries a market capitalization of roughly $1.4 billion, according to The Block’s ABTC price data. The stock rose 11.7% on Wednesday to close at $1.15 and is up 5.2% in pre-market trading on Thursday. However, it remains down 34.3% year-to-date.
Mining expansion supports accumulation strategy
The increase in holdings follows the company’s ongoing expansion of its mining infrastructure. Earlier this week, American Bitcoin said it had purchased another 11,298 ASIC mining machines, expected to add approximately 3.05 exahash per second of computing capacity.
Once deployed, the company expects its owned fleet to reach roughly 89,242 machines representing about 28.1 EH/s of hashrate, with the new hardware scheduled for installation at its Drumheller site in Alberta.
The expansion supports American Bitcoin’s strategy of accumulating bitcoin below spot prices through scaled mining operations. The company previously reported mining bitcoin at a 53% gross margin in the fourth quarter of 2025, reflecting what it describes as a structural advantage in building its treasury.
“Every decision we make is oriented around maximizing bitcoin accumulation,” President Matt Prusak said on Tuesday.
American Bitcoin launched in March 2025 as a majority-owned subsidiary of Hut 8, formed in partnership with Eric Trump’s American Data Centers venture to focus on industrial-scale bitcoin mining and strategic reserve development.
The company ended 2025 with 5,401 BTC on its balance sheet and has continued expanding its holdings through a combination of mining production and capital markets activity.
Despite reporting a $153.2 million net loss for 2025, largely driven by a $227.1 million non-cash mark-to-market loss on its bitcoin holdings under fair value accounting rules, the firm generated $185.2 million in annual revenue during its first year as a standalone public company.
While some publicly traded miners have begun selling bitcoin or redirecting infrastructure toward artificial intelligence and high-performance computing workloads, American Bitcoin has continued emphasizing scaled self-mining and long-term bitcoin accumulation.
Insider share purchases disclosed
Meanwhile, two members of American Bitcoin’s board recently increased their exposure to the company through open-market share purchases, according to Thursday filings with the U.S. Securities and Exchange Commission.
Board member Justin Mateen, co-founder of Tinder, acquired roughly 1.8 million shares of Class A common stock at a weighted average price of about $1.03 on March 3. Fellow director Richard Busch, a partner at law firm King & Ballow, purchased 240,000 shares at $0.96 on March 3 and another 90,000 shares at $1.15 on March 4, bringing his recent purchases to roughly 330,000 shares.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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