Trump-Linked Bitcoin Miner Quietly Amasses 215 BTC
American Bitcoin, a mining firm backed by Eric Trump and Donald Trump Jr., has quietly built a significant Bitcoin reserve since its official launch on 1 April. The company, formally known as ABTC, disclosed in a 6 June filing with the U.S. Securities and Exchange Commission (SEC) that it has accumulated 215 BTC, valued at over $23 million at current market prices.
Unlike traditional mining operations focused solely on production, ABTC positions itself as a long-term Bitcoin accumulator. The firm revealed that its BTC reserve is a core strategic asset, managed with the goal of strengthening its balance sheet and delivering long-term value for shareholders.
“Bitcoin accumulation is not a side effect of ABTC’s business. It is the business,” the company stated in its SEC filing.
No Set Target for BTC Holdings
ABTC clarified that it has no fixed target for its Bitcoin reserves. Instead, the company follows a flexible, market-responsive approach to increase its holdings. Capital is raised opportunistically, depending on market conditions, and reinvested into BTC accumulation.
The company’s strategy extends beyond simply mining Bitcoin. It aims to turn Bitcoin production into ownership by leveraging a “layer 2” operational model, transforming mined BTC into a strategic reserve asset rather than selling it on the open market.
Cost-Efficient Mining Without Owning Infrastructure
Unlike many mining companies, ABTC does not invest in physical infrastructure such as data centres. Instead, it owns over 60,000 mining machines—sourced primarily from industry leaders Bitmain and MicroBT—deployed across three facilities operated by Hut 8 in New York, Alberta, and Texas.
This approach enables ABTC to maintain a lean cost structure while retaining the flexibility to scale. The company’s miners contribute a combined hashrate of 10.17 exahashes per second, with an average energy efficiency of 21.2 joules per terahash.
By outsourcing infrastructure management to Hut 8, ABTC reduces overhead costs and maximises operational output. The mined Bitcoin is earned through participation in established mining pools such as Foundry and Luxor, with pool fees kept below 1%.
Security Measures and Custody
ABTC stores its growing Bitcoin reserves with Coinbase Custody, using cold storage wallets for enhanced security. The firm applies multi-factor authentication and whitelisted withdrawal protocols to protect its digital assets. This emphasis on secure storage underscores the company’s intent to treat Bitcoin as a long-term store of value, rather than a transactional asset.
An excerpt of the filing. Source: SEC
Planned Public Listing via Merger with Gryphon
On 12 May, ABTC announced it will go public through a merger with Gryphon Digital Mining. The transaction, structured as a stock-for-stock deal, will see the combined entity operate under the American Bitcoin brand.
Following the merger, Eric Trump will join the company’s board of directors. Hut 8, which currently manages ABTC’s infrastructure, will retain its role and a significant stake in the merged entity. Existing American Bitcoin shareholders are expected to control around 98% of the post-merger company.
The merger marks a key milestone in ABTC’s roadmap, potentially providing access to additional capital markets and investor exposure. The firm plans to continue its strategic BTC accumulation while expanding its footprint in the Bitcoin mining ecosystem.
A Strategic Bet on Bitcoin’s Future
By accumulating rather than liquidating Bitcoin, ABTC is making a bold bet on the future of the world’s largest cryptocurrency. The company’s focus on efficient mining, flexible capital deployment, and long-term reserve building places it in a distinct category among publicly affiliated mining firms.
While the political ties of the Trump family may draw added attention to ABTC’s operations, the company is staking its future on Bitcoin’s long-term value proposition—an approach that aligns more with institutional asset management than speculative crypto trading.
