American Bitcoin has accumulated 215 BTC for over $23 million since its founding in April of this year and promises to continue increasing its holdings.
ABTC says it spends directly on mining rather than investing in physical infrastructure.
Coinbase custodial Bitcoin ABTC stores are stored in “cold wallets”.
American Bitcoin, a mining company backed by Trump’s two eldest sons, Eric Trump and Donald Trump Jr., has amassed 215 BTC worth more than $23 million since its founding in April of this year.
In a filing with the SEC, the company, formally known as ABTC, said it views Bitcoin as a long-term asset and intends to continue increasing its holdings.
" Bitcoin is not a side effect of ABTC's business. It is the business. ABTC's Layer 2 strategy is designed to turn its Bitcoin into long-term Bitcoin ownership ," he wrote.
American Bitcoin to produce Bitcoin below market cost
ABTC said in the filing that it spends directly on mining rather than investing in physical infrastructure. The company has over 60,000 miners, mostly from Bitmain and Microbt, spread across three facilities in New York, Alberta, and Texas, operated by Hut 8.
These miners make a total of 10.17 exhashes every second and use an average of 21.2 joules per terahash. Through its partnership with Hut 8, ABTC can keep costs low while increasing production and keeping its capital flexible.
“The ABTC Foundation is built on the production of Bitcoin below market through a capital-efficient, infrastructure-light operating model,” he wrote.
Miners working for ABTC add their computing power to well-known pools such as Foundry and Luxor. Daily mining rewards are distributed based on the amount of hashrate and pool fees are kept below 1%.
“ABTC’s goal is to utilize public markets and strategic financing structures to access efficient capital and leverage that capital to grow its Bitcoin per share reserve,” he wrote .
ABTC has what it calls a “three-tiered strategy” at its core. That means building a mining operation that works well and doesn’t cost too much, using the capital to grow its Bitcoin reserves, and getting involved in the broader Bitcoin ecosystem.
Coinbase custodial ABTC Bitcoin stores are stored in “cold wallets.” To make storage more secure, the company uses multi-factor authentication and whitelisting methods.
Gryphon's fusion is still in the picture
American Bitcoin said in May that it would go public by merging with digital mining firm Gryphon. The deal is set up as a stock-for-stock deal, and the combined company will use the Bitcoin brand
After the deal, Eric Trump will be on the company's board. In addition, Hut 8 owns the majority of US Bitcoin and will still have a management role after the merger.
According to the deal, current American Bitcoin shareholders will own about 98% of the new business. Hut 8 will continue to operate the mines and manage their infrastructure. They hope to make steady money through long-term business deals.
Meanwhile, BTC users have shown excitement. Tectum said : " As Bitcoin grows, so does the need for efficient ways to use it."
On the other hand, Alva warned that BTC is holding the tronght of key moving averages and US accumulation trends continue to fuel bullish sentiment without direct confirmation from high-profile political buyers.
"Social buzz is widening, with political narratives keeping traders alert for possible large inflows. Volume signals steady demand, but watch RSI for suggestions of overstocking." Ava added.
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