Trump‑Backed American Bitcoin Raises $215M to Buy BTC

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Bitget2025/07/01 11:08

By:Bitget

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American Bitcoin Corp raised $215M to fund crypto accumulation.
The firm now holds 215  BTC (~$23 M) as a core asset.
ABTC plans to go public via merger with Gryphon Digital.

American Bitcoin Corp (ABTC), the crypto mining venture led by Eric Trump and backed by Hut 8 and Donald Trump Jr., has raised $215 million to expand its Bitcoin reserves. The company revealed this in a recent announcement, positioning itself as a major player in the institutional Bitcoin market .

215 BTC on the books as strategic asset

Since its launch on April 1, 2025, ABTC has accumulated 215 BTC, now valued at approximately $23 million. According to company filings with the SEC, these Bitcoin holdings are not just reserves but considered a “core strategic asset.” This reveals the company’s intention to not only mine Bitcoin but actively build a treasury similar to MicroStrategy’s model.

Strategic growth and public listing plans

ABTC runs more than 60,000 mining rigs in facilities managed by Hut 8 across New York, Alberta, and Texas, delivering a combined hashrate above 10 EH/s. The company is pursuing a three-pronged strategy:

Efficient mining with institutional support
Expanding Bitcoin reserves through capital raises
Promoting Bitcoin infrastructure and adoption

In addition, ABTC plans to go public through a merger with Gryphon Digital Mining, aiming to list under the ticker symbol ABTC by the third quarter of 2025. Eric Trump is expected to join the board after the merger.

JUST IN: 🇺🇸 Eric Trump's American Bitcoin Corp. raised $215 million to purchase more #Bitcoin 💥 pic.twitter.com/qQ96COgB1k
— Bitcoin Magazine (@BitcoinMagazine) June 30, 2025

Implications for the crypto market

The $215 million raised shows the growing interest among private firms to hold Bitcoin as a long-term strategic asset. With Eric Trump’s leadership and close ties to former President Donald Trump’s crypto initiatives, ABTC is positioning itself as a significant force in Bitcoin mining and accumulation.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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