Trump-Backed American Bitcoin Adds 1,414 Bitcoin Amid U.S. Expansion
Trump-backed American Bitcoin increased its holdings to 3,865 BTC through mining and purchases during its U.S. expansion.Summary
American Bitcoin Corp. (ABTC), a company backed by the Trump family, has expanded its Bitcoin holdings to 3,865 BTC, adding 1,414 coins since September via mining production and secondary market purchases. This accumulation is part of a rapid expansion trajectory following its spin-out from Hut 8 earlier this year. The acquired coins are held in custody or pledged as collateral for a major order of 16,299 Bitmain mining units, which will be hosted at Hut 8’s new Texas facility. Co-founder Eric Trump emphasized the focus on increasing Bitcoin holdings to back each share, while Executive Chairman Asher Genoot noted that their integrated mining model lowers the average cost per Bitcoin. The company, which recently merged with Gryphon Digital Mining, remains closely watched due to its expansion plans and political ties.
(Source：Bitcoin Magazine)