American Bitcoin, the bitcoin mining and treasury firm backed by Eric Trump and Donald Trump Jr., has announced the acquisition of an additional 416 BTC, valued at roughly $38.3 million as of December 8.

This latest purchase lifts the company’s total reserves to around 4,783 BTC (approximately $440 million), solidifying its position among the top public bitcoin treasury holders.

Company growth and strategy

Eric Trump, co-founder and chief strategy officer, emphasized the company’s rapid progress since its Nasdaq debut three months ago. He stated:

“In the three months since we listed on Nasdaq, we have built one of the largest and fastest growing bitcoin accumulators, supported by a cost structure and margin profile that positions us for long term value creation.”

American Bitcoin’s “satoshis per share” metric rose more than 17% month-over-month to 507, reflecting the amount of bitcoin attributable to each outstanding share of common stock.

This metric offers investors clearer insight into indirect bitcoin ownership through equity.

Corporate structure and reserves

American Bitcoin was formed as a majority-owned subsidiary of Hut 8 and went public via a reverse merger with Gryphon Digital Mining in September.

Post-merger, Trump brothers and Hut 8 shareholders reportedly own about 98% of the combined entity.

The company reiterated that its reported bitcoin holdings include amounts purchased but not yet settled in wallets, as well as bitcoin held in custody or pledged for miner acquisitions.

Mining operations and acquisitions

Following a $220 million fundraising round, American Bitcoin indicated that it aims to build its bitcoin reserve primarily through mining.

The company’s recent acquisitions add to a previous 363 BTC purchase the week prior, signaling ongoing accumulation efforts.