Eric Trump-Backed American Bitcoin Discloses $23M BTC Reserve
Highlights:
- American Bitcoin confirms a 215 BTC reserve valued at over $23 million.
- Merger with Gryphon Digital Mining targets Nasdaq listing in Q3 2025.
- American Bitcoin has partnered with Hut 8 and operates 60,000 miners across three facilities.
The newly set up Bitcoin mining company by Eric Trump and Donald Trump, known as American Bitcoin, has disclosed it holds 215 BTC, currently valued at $23 million. The company started functioning in April 2025 and boosted its mining ability by joining forces with other organizations.
The firm relies on about 60,000 mining rigs that are products from Bitmain and MicroBT. The machines have been put in place at three sites in New York, Alberta, and Texas. Moreover, Hut 8 is in charge of the operations, which means American Bitcoin does not need to directly own the infrastructure. Consequently, the company incurs low expenses related to running its operations. Its miners provide computing power to major mining pools, for example, Foundry and Luxor. By keeping pool fees under 1%, more profit is generated.
Coinbase Custody is used by the company to store its Bitcoin safely. All funds are placed in cold wallets using multi-factor authentication and complex withdrawal settings. Consequently, the strategy seeks to keep security intact as it plans for more reserves in expansion for the long term.
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
Three-Layer Growth Strategy Underpins Operations
The business model for American Bitcoin consists of a three-tiered framework. The first step is for the company to produce Bitcoin for less than what it costs on the market. The platform does this by using a capital-efficient method and not building on its own infrastructure.
Secondly, the company uses its resources to boost its supply of BTC. It responds to changes in the market and the availability of capital instead of fixing a single goal. With this approach, treasury growth can change and adapt to the situation. The company also plans to contribute to the worldwide growth of Bitcoin and its ecosystem. Through partnerships, the company plans to invest in infrastructure and boost the stability of the protocol. Consequently, these moves support shareholders’ interests.
The company’s main purpose is to keep accumulating Bitcoin. The purpose of mining is mainly to get long-term access to Bitcoin at a lower price. The model helps American Bitcoin achieve its target of surpassing competitors by increasing its strategic reserves.
Merger with Gryphon and Future Nasdaq Listing
In May, American Bitcoin announced that it plans to merge with Gryphon Digital Mining. The deal is structured as a stock-for-stock transaction and could close by the third quarter of 2025. Once the deal is done, everything will run under the American Bitcoin brand.
Gryphon Digital Mining Announces Merger with American Bitcoin. Read the press release here: https://t.co/vtsk5yIzLJ $GRYP @AmericanBTC pic.twitter.com/Xg6JyUJ0tU
— Gryphon Digital Mining (@GryphonMining) May 12, 2025
In addition, the newly established company will be listed on the Nasdaq with the ticker ABTC. After the merger, Eric Trump will be one of the members of the board. Hut 8 will still be responsible for managing the mining infrastructure under long-term commercial agreements.
Under the merger terms, 98% of the new company will belong to American Bitcoin shareholders. Moreover, Gryphon investors will possess 2% of the business. The structure demonstrates the level of involvement and the value of assets from each firm. American Bitcoin anticipates that the merger will open doors to public capital markets for it. With this funding, Bitcoin will be able to build its reserves and expand its use in the broader Bitcoin ecosystem. In addition, this method will help the firm expand without overburdening Hut 8’s balance sheet.
At the end of May, the company had one staff member who worked full-time. Minimum capital is needed since its lean model makes external partnerships its main means of growing Bitcoin’s profit. Consequently, this model plays an important role in the company’s main Layer 1 mining approach.
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Raymond Munene
Raymond Munene is a crypto content writer who contributes to Crypto2Community. With over three years of experience, he is interested in Bitcoin, Blockchain, and Technical Analysis. Focusing on daily market analysis, his research helps traders and investors alike. His particular interest in cryptocurrency and blockchain aids his audience.
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