Trump-backed American Bitcoin edges into top 20 corporate BTC holders as stock slips to new lows

American Bitcoin (ABTC), a bitcoin mining and treasury firm supported by Eric and Donald Trump Jr., has increased its Bitcoin holdings to 5,098 BTC, moving it into the top 20 corporate holders, surpassing Semler Scientific. This accumulation is part of its treasury strategy since its Nasdaq debut in September. Despite this growth, the company's stock has experienced significant volatility, hitting an all-time low of $1.57 following the expiration of a post-merger share lockup, representing a drawdown of over 75% from September highs. Even with the selloff, American Bitcoin trades at a steep premium to its net asset value (mNAV EV) of roughly 3.7, placing it at the higher end compared to other major U.S.-listed bitcoin miners like CleanSpark and Riot Platforms. The company, which went public via a reverse merger with Gryphon Digital Mining, plans to continue building its Bitcoin reserve through mining and market purchases.

(Source：The Block)