Bitcoin Mining Company American Bitcoin (ABTC), Backed by Eric Trump and Donald Trump Jr., Has Quietly Accumulated $23M

Bitcoin mining company American Bitcoin (ABTC), backed by President Donald Trump’s sons, Eric Trump and Donald Trump Jr., has quietly accumulated $23 million

President Donald Trump’s sons, Eric Trump and Donald Trump Jr., are among the backers of Bitcoin mining company American Bitcoin (NASDAQ:ABTC), which has quietly accumulated $23 million in Bitcoin ahead of its upcoming public listing through a merger with crypto infrastructure firm Gryphon Digital Mining Inc (NASDAQ:GDMN).

A June 6 SEC filing unveiled that American Bitcoin, which launched operations on April 1, 2025, acquired around 215 Bitcoin by May 31.

The company’s recent accumulation activity signals its broader ambitions, positioning it not just as a mining operation but also as a long-term holder of Bitcoin.

“American Bitcoin considers its reserve a core strategic asset, managed adaptively to support balance sheet strength with a view to enhancing long-term stockholder value,” the filing stated.

According to the filing, the company, which is planning to list on the Nasdaq Stock Market following the merger, views its Bitcoin reserves as a long-term investment and plans to continue adding to its holdings over time.

Instead of aiming for a fixed accumulation target, the firm said it monitors market conditions regularly to decide when it may raise more capital to grow its Bitcoin reserve.

“Bitcoin accumulation is not a side effect of ABTC’s business. It is the business. ABTC’s Layer 2 strategy is designed to transform its Bitcoin production into long-term Bitcoin ownership,” the filing stated.

The filing also revealed that American Bitcoin focuses its capital on direct mining operations rather than infrastructure ownership. The company controls more than 60,000 mining machines, primarily sourced from Bitmain and MicroBT. These units are hosted across three facilities managed by Hut 8 (TSX: HUT)(NASDAQ: HUT), located in Texas, New York, and Alberta.

American Bitcoin’s mining fleet delivers a combined hashrate of 10.17 exahashes per second, operating with an average efficiency of 21.2 joules per terahash. By partnering with Hut 8, the company manages to minimize overhead costs while scaling production and maintaining financial flexibility.

The miners contribute computing power to established mining pools such as Foundry and Luxor, with daily rewards distributed proportionally to hashrate contributions. Pool fees are kept under 1%, maximizing returns.

At the heart of ABTC’s approach is a three-pronged strategy: building a cost-effective mining operation, using capital to expand Bitcoin reserves, and actively participating in the wider Bitcoin ecosystem.

The transaction between American Bitcoin and Gryphon is expected to close as early as the third quarter of 2025. Once finalized, existing American Bitcoin shareholders are projected to retain around 98% ownership of the merged entity, with the company maintaining majority control over the outstanding capital stock.