American Bitcoin Adds BTC As Eric Trump Blasts Big Banks’ Crypto Lobbying
American Bitcoin, a bitcoin mining company backed by the Trump family, has increased its treasury to more than 6,500 bitcoins, placing the company among the largest publicly traded holders of the digital asset as it continues to scale its mining operations.
The company revealed updated values this week, with founder and chief strategy officer Eric Trump stating that the company has accumulated more than 500 BTC over the past 21 days. At current market rates, the treasury is close to $470 million.
Data from Bitcoin Treasuries shows that the miner now ranks 17th among public companies that hold BTC on their balance sheets. The company sits behind companies including Galaxy Digital as the number of publicly traded companies adopting bitcoin treasury strategies continues to grow.
American Bitcoin trades under the ticker ABTC and has a market capitalization of close to $1.4 billion. Shares traded today at $1.21, up nearly 6% during the session.
Despite recent gains, the stock remains down more than 30% since the start of the year following a sharp decline from post-listing highs.
Yesterday, Eric Trump took to X to say that major US banks including JPMorgan Chase, Bank of America and Wells Fargo are lobbying Washington, DC to block top crypto and stablecoin products.
He said banks are paying depositors almost as much as interest while earning higher rates from the Federal Reserve and said stakeholders support legislation like the CLARITY Act to limit crypto yields and protect traditional banks from competition.
The expansion of Bitcoin mining increases the collection
The asset increase follows a series of infrastructure investments aimed at increasing the company’s BTC production capacity.
Earlier this week, American Bitcoin announced the purchase of 11,298 application-specific integrated circuit (ASIC) mining machines. The equipment is expected to add approximately 3.05 exahashes per second of computing power to the company’s operations.
Once deployed, the company expects its fleet to reach around 89,242 machines with a combined hashrate close to 28.1 EH/s. The new hardware is scheduled to be installed at the company’s mining facility in Drumheller, Alberta.
The expansion is part of a strategy that focuses on earning BTC through large mining rather than buying assets on the open market. The company’s management has argued that limited operations allow the company to produce bitcoin at a cost below current prices.
President Matt Prusak said the company’s operational decisions are focused on increasing the amount of BTC held on its balance sheet. American Bitcoin reported BTC mining at a total rate of 53% in the fourth quarter of 2025.
Insider trading disclosed
The company also reported internal share buybacks following the release of its latest earnings report.
Board member Justin Mateen acquired about 1.3 million shares of American Bitcoin stock in open market purchases at an average price close to $1 per share. Mateen founded the dating app Tinder and joined the board of American Bitcoin in 2025.
Another director, Richard Busch, bought about 330,000 shares during two trading days, according to a filing with the US Securities and Exchange Commission.
The purchase took place after the company’s trading window reopened following the disclosure of its fourth quarter earnings.
American Bitcoin reported a fourth-quarter loss of nearly $59 million, while its full-year 2025 results showed a net loss of more than $150 million. The losses stem in part from accounting rules that require companies to mark BTC holdings in the market, which can cause significant losses for the paper during periods of price declines.
Despite those results, the company generated more than $185 million in revenue in its first year as a public firm.
