Trump's American Bitcoin Mining Company Buys $24 Million BTC for Treasury

A newly formed Bitcoin mining company called American Bitcoin which is backed by Eric Trump and Donald Trump Jr., has made a significant move by acquiring 215 BTC, valued at approximately $24 million as of May 31. This purchase, detailed in a June 6 filing with the U.S. Securities and Exchange Commission, marks the company’s first major step in implementing a Bitcoin treasury strategy inspired by Strategy’s Michael Saylor. The firm, which partnered with Bitcoin mining giant Hut 8, aims to establish itself as a key player in the Bitcoin ecosystem through efficient mining operations and strategic investments.

The company, set to go public in the second half of 2025 via a SPAC merger with Gryphon Digital Mining, will trade on the Nasdaq under the ticker ABTC. American Bitcoin’s leadership has outlined a three-pronged approach focusing on cost-effective Bitcoin production, ongoing treasury purchases, and broader ecosystem leadership. With operations already underway, the company is positioning itself to capitalize on the growing demand for Bitcoin and the increasing institutional interest in digital assets.

Strategic Operations and Future Plans

American Bitcoin operates three mining facilities located in Niagara Falls, New York; Medicine Hat, Alberta; and Orla, Texas, through a services agreement with Hut 8. These facilities are designed to produce Bitcoin at below-market costs, enabling the company to fund its treasury strategy while maintaining profitability. The firm currently employs one full-time staff member, relying heavily on its partnership with Hut 8 to manage operations efficiently. This lean structure allows American Bitcoin to focus resources on scaling its mining capabilities and expanding its Bitcoin holdings.

The company’s treasury strategy draws inspiration from Michael Saylor, whose firm, Strategy, has amassed billions in Bitcoin as a corporate reserve asset. By adopting a similar approach, American Bitcoin aims to hedge against inflation and position itself as a forward-thinking player in the financial sector. The $24 million Bitcoin purchase is a clear signal of the company’s commitment to this vision, with plans to continue accumulating BTC as mining operations grow.

Looking ahead, American Bitcoin’s planned public listing is expected to provide additional capital to fuel its ambitions. The SPAC merger with Gryphon Digital Mining will enable the firm to tap into public markets, potentially attracting investors eager to gain exposure to the Bitcoin mining sector. The company’s focus on operational efficiency and strategic partnerships positions it well to navigate the competitive space of Bitcoin mining.