American Bitcoin (ABTC), the Bitcoin mining and treasury company backed by US President Donald Trump's sons, announced in a statement that it has purchased approximately 416 more BTC since the last update on December 2nd.
This purchase, valued at approximately $38.3 million at current prices, increased the company's total Bitcoin holdings to 4,783 BTC (approximately $440 million) as of December 8. This figure further solidified American Bitcoin's position among the top 25 publicly traded BTC treasuries.
The company quickly increased its reserves after purchasing 363 BTC last week. Furthermore, the firm's “satoshi per share” indicator rose by more than 17% month-on-month to 507. The company stated that this metric was created to give investors a clearer view of their indirect Bitcoin exposure through share ownership.
Eric Trump, co-founder and strategy director of American Bitcoin, made the following statements:
“It has only been three months since our listing on Nasdaq, and in that time we have become one of the largest and fastest-growing Bitcoin accumulators. Our cost structure and margin profile strongly position us for long-term value creation. We are focused on advancing our strategy and maintaining this momentum.”
American Bitcoin, a subsidiary in which Hut 8 (HUT) is the majority shareholder, is backed by Eric Trump and Donald Trump Jr. The company went public in September through a fully equity-based reverse merger with Gryphon Digital Mining, resulting in American BTC and the Trump brothers holding approximately 98% of the combined shareholder stake.
*This is not investment advice.
