American Bitcoin Corp (ABTC), a crypto mining venture led by Eric Trump, has raised $215 million to expand its Bitcoin reserves.
ABTC's Strategic Assets
Since its inception on April 1, 2025, ABTC has accumulated 215 BTC, valued at approximately $23 million. These Bitcoins are considered not just reserves but a 'core strategic asset', indicating the company’s intention to not only mine Bitcoin but actively build a treasury similar to MicroStrategy’s model.
Growing Infrastructure and Public Listing Plans
ABTC operates over 60,000 mining rigs across its facilities managed by Hut 8 in New York, Alberta, and Texas, delivering a combined hashrate above 10 EH/s. The company pursues a three-pronged strategy: efficient mining with institutional support, expanding Bitcoin reserves through capital raises, and promoting Bitcoin infrastructure and adoption. 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.
Impact on 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.
These developments highlight the changing landscape of institutional investment in cryptocurrency, indicating a growing recognition of Bitcoin as a key asset.
