American Bitcoin's Bold Move: Amasses 215 BTC, Eyes Public Listing

Hold onto your hats, crypto fans! American Bitcoin, the mining powerhouse with Eric and Donald Trump Jr. in its corner, has raked in a cool 215 Bitcoins since firing up operations on April 1. That's nearly $24 million in digital gold, folks, according to a juicy SEC filing from June 6.

But wait, there's more! This isn't your average mining outfit. Known as ABTC, they're shaking things up and planning to go public later this year through a sizzling stock-for-stock merger with Gryphon Digital Mining. And get this: for ABTC, owning Bitcoin isn't just a side effect of mining—it's the whole damn business!

These guys are playing a different game with a "layered" strategy that's all about mining Bitcoin cheaper than the market, beefing up their treasury, and diving headfirst into the Bitcoin ecosystem. It's a bold move that's turning heads in the crypto world.

While most miners are busy building their own rigs, ABTC is keeping it lean and mean, outsourcing their mining ops to focus on what really matters: stacking those Satoshis.

And those 215 BTC? They're not just sitting pretty; they're locked up tight with Coinbase Custody as part of ABTC's open-ended master plan. The company's not stopping there—they've got their sights set on boosting their holdings even more, depending on market vibes and cash flow.

This move is straight out of the Michael Saylor playbook at MicroStrategy, and it's got other companies taking notes on how to build their own Bitcoin treasuries.

Upcoming merger

Buckle up, because American Bitcoin just dropped a bombshell on May 12, 2025. They're merging with Gryphon Digital Mining in a stock-for-stock deal that's flipping the script. Although Gryphon's the one doing the acquiring, ABTC shareholders are walking away with a whopping 98% of the new entity, which will keep the American Bitcoin name flying high.

No press release needed here—this news is too hot to handle! ABTC might only have one full-time employee, but their ambitions are sky-high. By treating Bitcoin accumulation as their core business and dodging those pesky high fixed costs, they're aiming to be the ultimate high-leverage bet on Bitcoin's future.

And if that's not enough, ABTC is gunning to be the biggest pure-play Bitcoin miner out there and snag a spot on Nasdaq with the ticker 'ABTC.' The crypto world better watch out—these guys are playing for keeps!