American Bitcoin, the prominent bitcoin mining firm backed by the Trump family, has significantly bolstered its corporate treasury, now holding over 6,500 bitcoin (BTC). This recent surge, which includes an acquisition of more than 500 BTC in just 21 days, places the company among the largest publicly traded holders of the digital asset, with a treasury valued at approximately $470 million at current market prices.
According to data from Bitcoin Treasuries, American Bitcoin now ranks 17th among public companies holding BTC on their balance sheets, trailing firms like Galaxy Digital. The company, which trades under the ticker ABTC, has a market capitalization of nearly $1.4 billion. Shares of American Bitcoin closed at $1.21, marking a 6% increase during the session, although the stock has lost more than 30% of its value since the beginning of the year.
Eric Trump Accuses Big Banks of Anti-Crypto Lobbying
In a fiery tweet on X, Eric Trump, co-founder and chief strategy officer of American Bitcoin, accused major U.S. banks, including JPMorgan Chase, Bank of America, and Wells Fargo, of lobbying against higher-yield crypto and stablecoin products. Trump alleged that these banks are protecting their own interests by pushing for legislation like the CLARITY Act, which aims to limit crypto yields and protect traditional banking models from competition.
“Banks are paying depositors near-zero interest while earning higher rates from the Federal Reserve. They’re lobbying to block crypto and stablecoin products to protect their monopoly,” Trump wrote.
Trump’s comments highlight the ongoing tension between traditional financial institutions and the growing crypto industry, as banks seek to maintain their dominance in a rapidly evolving financial landscape.
Scaling Mining Operations to Boost BTC Holdings
American Bitcoin’s expansion in BTC holdings is part of a broader strategy to scale its mining operations. The company recently announced the purchase of 11,298 application-specific integrated circuit (ASIC) mining machines, which will add approximately 3.05 exahashes per second (EH/s) to its computing power. Once installed at the company’s mining facility in Drumheller, Alberta, the new hardware will bring the total number of mining machines to about 89,242, with a combined hashrate of nearly 28.1 EH/s.
This expansion underscores the company’s commitment to self-mining as a cost-effective method of acquiring BTC. Matt Prusak, the company’s president, emphasized that the focus is on increasing the amount of BTC held on the balance sheet. During the fourth quarter of 2025, American Bitcoin reported a gross margin of about 53% on its BTC mining operations.
Insider Purchases and Financial Performance
American Bitcoin also disclosed insider share purchases following the release of its latest earnings report. Board member Justin Mateen, co-founder of the dating app Tinder, acquired approximately 1.3 million shares at an average price of $1 per share. Another director, Richard Busch, purchased about 330,000 shares over two days of trading.
Despite reporting a fourth-quarter loss of roughly $59 million and a full-year net loss exceeding $150 million, the company generated more than $185 million in revenue during its first year as a public firm. The losses are partly attributed to accounting rules that require companies to mark BTC holdings to market, leading to significant paper losses during periods of price decline.
Looking Ahead: A Strategic Focus on Growth
As American Bitcoin continues to expand its BTC treasury and mining operations, the company is positioning itself to capitalize on the growing adoption of bitcoin by public companies. The strategic focus on cost-effective mining and the acquisition of high-performance hardware are key components of its long-term growth plan. Despite the current market challenges, the company remains committed to its vision of becoming a leading player in the digital asset space.
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