American Bitcoin backed by the Trump family has accumulated 215 BTC worth over $23M

American Bitcoin, a mining company backed by President Donald Trump’s two eldest sons, Eric Trump and Donald Trump Jr., has accumulated 215 BTC worth over $23 million since its founding in April this year. 

In a filing submitted to the SEC, the company, formally known as ABTC, said that it views Bitcoin as a long-term asset and intends to continue increasing its holdings.

American Bitcoin, backed by the TRUMP FAMILY, is making BIG moves.

It quietly grabbed 215 $BTC ($23M) since April.

Which other company is buying BTC quietly? 👇 pic.twitter.com/rcQvCgd8DL

— Wise Advice (@wiseadvicesumit) June 10, 2025

“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”, it wrote.

American Bitcoin to produce Bitcoin below-market cost 

ABTC said in the filing that it spends directly on mining instead of investing in physical infrastructure. The company has more than 60,000 miners, mostly from Bitmain and MicroBT, spread out across three facilities in New York, Alberta, and Texas, handled by Hut 8.

These miners do a total of 10.17 exahashes every second and use an average of 21.2 joules per terahash. Through its partnership with Hut 8, ABTC can keep costs low while increasing output and keeping its capital flexible.

“ABTC’s foundation is built on producing Bitcoin below-market cost through a capital efficient, infrastructure-light operating model,” it wrote.

The miners who work for ABTC add their computing power to well-known pools like Foundry and Luxor. Daily mining rewards are given out based on how much hashrate is contributed, and pool fees are kept below 1%.

“ABTC’s goal is to utilize public markets and strategic financing structures to access efficient capital and leverage that capital to increase its Bitcoin in reserve per share,” it wrote

ABTC has what it calls a “three-tiered strategy” at its core. This means creating a mining business that works well and doesn’t cost too much, using capital to increase its Bitcoin reserves, and getting involved in Bitcoin’s larger ecosystem.

The Bitcoin ABTC stores with Coinbase Custody are kept in “cold wallets.” To make the storage more secure, the company uses multifactor authentication and whitelisted withdrawal methods.

The Gryphon merger is still in the picture

American Bitcoin said in May that it would go public by merging with Gryphon Digital Mining. The agreement is set up as a stock-for-stock deal, and the combined company will use the American Bitcoin brand.

After the deal, Eric Trump will be on the company board. Also, Hut 8 owns most of American Bitcoin and will still have a management role after the merger.

As per the deal, current American Bitcoin shareholders will own around 98% of the new business. Hut 8 will keep running the mines and handling their infrastructure. They hope to make steady money through long-term business deals.

Meanwhile, BTC users have shown excitement. Tectum has said, “Bitcoin holdings grow, and so does the need for efficient ways to use them.”

On the other hand, Alva has warned that BTC is holding strong above key moving averages, and US accumulation trends continue fueling bullish sentiment without direct confirmation of high-profile political buyers. 

“Social buzz is amped up, with political narratives keeping traders alert to possible big inflows. Volume signals steady demand, but watch RSI for overbought hints. If the political narrative really heats up, a technical breakout could follow—are you ready for the next volatility burst?” Ava added.