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American Bitcoin (ABTC), a Bitcoin mining firm backed by Eric Trump and Donald Trump Jr., has amassed 215 Bitcoin—valued at approximately $24 million—since it began operations on April 1, as per a June 6 SEC filing. The company has outlined plans to go public later this year through a stock-for-stock merger with Gryphon Digital Mining, signaling its aspirations to become a prominent player in the cryptocurrency space.

ABTC’s Unique Business Model

Unlike traditional Bitcoin mining firms that focus on building and operating their own infrastructure, ABTC has adopted a distinctive approach. The company’s strategy revolves around treating Bitcoin ownership as its core business, rather than a byproduct of mining. According to the filing, ABTC’s multi-layered strategy includes:

  • Producing Bitcoin below market cost.
  • Expanding its treasury by leveraging available capital.
  • Engaging actively in the broader Bitcoin ecosystem.

This approach positions ABTC as a high-leverage proxy for Bitcoin exposure, appealing to investors seeking direct participation in the cryptocurrency market without operating mining infrastructure.

Bitcoin Reserves and Custody

The company’s current reserve of 215 BTC is securely stored with Coinbase Custody, reflecting its commitment to secure asset management. ABTC has stated its intention to increase its Bitcoin holdings over time, depending on market conditions and the availability of capital. This strategy mirrors the Bitcoin treasury approach employed by companies like MicroStrategy, which has inspired many corporate Bitcoin accumulators.

Merger with Gryphon Digital Mining

ABTC recently announced a merger with Gryphon Digital Mining in a stock-for-stock deal disclosed on May 12, 2025. While Gryphon technically acted as the acquirer, ABTC shareholders retained 98% ownership of the newly merged entity, which continues to operate under the American Bitcoin name. This strategic move is expected to bolster ABTC’s capabilities and market presence.

Future Goals

Despite employing just one full-time staff member, ABTC has ambitious plans to establish itself as a leading Bitcoin-focused entity. The company aims to become the largest pure-play Bitcoin miner and is targeting a Nasdaq listing under the ticker symbol ‘ABTC’. By avoiding the high fixed costs typically associated with traditional mining operations, ABTC is positioning itself as a cost-efficient and scalable player in the cryptocurrency industry.

ABTC’s innovative approach and focus on Bitcoin accumulation highlight its goal of providing investors with direct exposure to the cryptocurrency market. As the company moves toward going public, it will be worth monitoring how its strategies and merger with Gryphon Digital Mining unfold in the competitive Bitcoin mining sector.

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