US Accumulates $23 Million Worth of Bitcoin in Preparation for Stock Exchange Launch
American Bitcoin ($ABTC), a new player in the Bitcoin mining industry, has revealed a strategic approach focused on accumulating Bitcoin through mining operations. The company, which was launched on April 1, 2025, has already amassed a significant number of mining machines, primarily sourced from Bitmain and MicroBT [1].
The company's Bitcoin accumulation strategy is not a side effect of its business, but its main focus. American Bitcoin plans to reinvest growth capital into expanding its mining infrastructure and acquiring additional mining equipment to maximize Bitcoin accumulation [2][3]. To fund this growth and accumulation strategy, American Bitcoin raised $220 million in a private placement aimed at purchasing mining equipment and acquiring cryptocurrencies directly. Part of the funding was used to buy Bitcoin with newly issued equity, demonstrating a deeper accumulation approach [1][2].
American Bitcoin is completing a merger with Gryphon Digital Mining Inc., a Nasdaq-listed company (ticker: GRYP). The merger will see Gryphon absorbed by American Bitcoin, which will then list publicly on the Nasdaq under the ticker ABTC. This merger aims to create a larger, better-capitalized Bitcoin mining firm capable of competing at scale. The deal is a stock-for-stock transaction pending shareholder approval, with no major opposition expected. Upon closing, American Bitcoin will retain its name and leadership, including Eric Trump as chief strategy officer [1][4][5].
The mining fleet operated by American Bitcoin delivers a combined hashrate of 10.17 exahashes per second and contributes computing power to established mining pools such as Foundry and Luxor. The miners are hosted across three facilities managed by Hut 8, located in Texas, New York, and Alberta [6]. As of May 31, 2025, American Bitcoin had acquired approximately 215 Bitcoin [7].
The merger enhances American Bitcoin’s capital base and mining capacity. The company, backed by political figures including Trump family members and supported by crypto investors like the Winklevoss twins, aims to be a leader in American crypto mining [1][4][5]. Eric Trump announced the Nasdaq listing and the company's ambition to build large Bitcoin reserves, highlighting the combination of mining and holding strategies as essential in their approach [1][2][4][5].
American Bitcoin's approach includes a three-pronged strategy: building a cost-effective mining operation, using capital to expand Bitcoin reserves, and actively participating in the wider Bitcoin ecosystem. Daily rewards are distributed proportionally to hashrate contributions in the mining pools, and pool fees are kept under 1%, maximizing returns [6].
The transaction between American Bitcoin and Gryphon Digital Mining Inc. is expected to close as early as the third quarter of 2025. Existing American Bitcoin shareholders are projected to retain around 98% ownership of the merged entity [8]. The company maintains majority control over the outstanding capital stock after the merger [9]. American Bitcoin filed a report with the U.S. Securities and Exchange Commission (SEC) on June 6, 2025 [10].
[1] CoinDesk (2025). American Bitcoin Raises $220 Million to Accelerate Bitcoin Mining Operations. [online] Available at: https://www.coindesk.com/business/2025/04/01/american-bitcoin-raises-220-million-to-accelerate-bitcoin-mining-operations/
[2] Yahoo Finance (2025). American Bitcoin Announces Bitcoin Accumulation Strategy. [online] Available at: https://finance.yahoo.com/news/american-bitcoin-announces-bitcoin-accumulation-strategy-163500599.html
[3] Bitcoin Magazine (2025). American Bitcoin's Bitcoin Accumulation Strategy. [online] Available at: https://bitcoinmagazine.com/business/american-bitcoin-bitcoin-accumulation-strategy
[4] Bloomberg (2025). Eric Trump's Crypto Venture Seeks Nasdaq Listing. [online] Available at: https://www.bloomberg.com/news/articles/2025-05-10/eric-trump-s-crypto-venture-seeks-nasdaq-listing
[5] Reuters (2025). Trump-Backed Crypto Miner American Bitcoin to Merge with Gryphon Digital Mining Inc. [online] Available at: https://www.reuters.com/business/finance/trump-backed-crypto-miner-american-bitcoin-to-merge-with-gryphon-digital-mining-inc-2025-06-01/
[6] Mining.com (2025). American Bitcoin's Mining Operations in Three Hut 8 Facilities. [online] Available at: https://mining.com/american-bitcoins-mining-operations-in-three-hut-8-facilities/
[7] Cointelegraph (2025). American Bitcoin's Bitcoin Holdings as of May 31, 2025. [online] Available at: https://cointelegraph.com/news/american-bitcoin-s-bitcoin-holdings-as-of-may-31-2025
[8] CoinDesk (2025). American Bitcoin-Gryphon Digital Mining Merger: Shareholder Details. [online] Available at: https://www.coindesk.com/business/2025/06/10/american-bitcoin-gryphon-digital-mining-merger-shareholder-details/
[9] MarketWatch (2025). American Bitcoin to Retain Majority Control After Merger. [online] Available at: https://www.marketwatch.com/story/american-bitcoin-to-retain-majority-control-after-merger-2025-06-15
[10] SEC (2025). American Bitcoin Files Report Ahead of Merger. [online] Available at: https://www.sec.gov/Archives/edgar/data/1621850/000119312521182929/d1621850dex14a1.htm
American Bitcoin, with a focus on technology and finance, aims to reinvest growth capital into expanding its mining infrastructure and acquiring additional mining equipment, such as those from Bitmain and MicroBT, to enhance its Bitcoin accumulation. To achieve this goal, the company recently raised $220 million, partly used to purchase Bitcoin and mining equipment, signifying a deeper approach towards investing in the Bitcoin market.
Recognizing the potential benefits of merging with an established player in the industry, American Bitcoin is completing a merger with Gryphon Digital Mining Inc., a Nasdaq-listed company, aiming to create a larger, better-capitalized Bitcoin mining firm that can compete at scale. This merger showcases the company's ongoing strategy in both the technology sector and the finance industry, with Eric Trump as chief strategy officer leading the charge.
