The American Bitcoin Corporation (ABTC), backed by the Trump family, has recently accelerated its bitcoin acquisitions, purchasing an additional 1,726 BTC worth a total of $205.60 million between July 1 and August 6 at a weighted average price of about $119,120/piece. ABTC, a holding subsidiary of Hut 8 Corp., has increased its strategic bitcoin reserves to about 2,130 BTC, worth about $254 million at current market prices.
The acquisition follows ABTC's completion of a $220 million private equity financing round at the end of June, and the company plans to go public through a merger with Gryphon Digital Mining, which has been approved by the Securities Exchange Commission and is expected to be subject to a shareholder vote later this month.
ABTC, a mining company backed by the Trump family, has accelerated its holdings of bitcoin and currently has reserves of 2,130 BTC.
2025-08-14 00:51:22
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