On Wednesday morning, following its merger with Gryphon Digital Mining (GRYP), American Bitcoin (ABTC) — a bitcoin mining and treasury operation supported by Donald Trump Jr. and Eric Trump — made its debut on the market.
Swiftly moving forward, the firm filed to raise up to $2.1 billion through an at-the-market offering aimed at expanding its stash of bitcoin (BTC), which numbered 2,443 coins valued around $112,814.07 each at the merger moment.
The stock price surged dramatically, soaring by 60% to reach $11, up from the $6.90 closing value recorded Tuesday evening post-merger.
Rapid Growth Fueled by Strategic Alliances
American Bitcoin’s accelerated evolution kicked off back in March, sparked by a merger of forces between the Trump brothers’ American Data Centers and Canada’s mining heavyweight Hut 8 (HUT). Today, Hut 8 commands a commanding 80% controlling interest in this newly minted public company.
Mining Meets Corporate Treasury — A Dual-Edged Strategy
Blending traditional bitcoin mining with a treasury-driven accumulation tactic, American Bitcoin has, since its establishment earlier this year, gathered 2,443 bitcoins worth roughly $160 million at present market rates. This hybrid framework — simultaneously extracting bitcoin and hoarding it as a ledger asset — echoes approaches embraced by leading miners like Marathon Digital.
Notable facts for context:
- The global bitcoin mining sector consumes an estimated 100 terawatt-hours per year, rivaling consumption levels of mid-sized countries.
- Since its peak in 2021, bitcoin prices have experienced significant volatility, influencing mining firm strategies on accumulation versus liquidation.
- Publicly traded mining firms often adopt balance sheet holding strategies to hedge against market fluctuations and maximize long-term gains.
