American Bitcoin Corp., a company focused on Bitcoin mining and accumulation, has made significant strides in its holdings. The firm recently announced the acquisition of approximately 1,414 BTC, part of a series of strategic market purchases that commenced in September 2025. This latest acquisition elevates American Bitcoin’s total holdings to 3,865 BTC, a figure currently valued at around $445 million, making it the 26th largest public holder of Bitcoin globally.
The company has reported a notable increase in its Satoshis Per Share (SPS), reaching 418, reflecting a 52% rise since September 1. This metric quantifies the amount of Bitcoin attributable to each share of the company’s common stock, providing shareholders with insights into their indirect ownership of Bitcoin.
American Bitcoin’s Bitcoin reserves are built through various means, including both mining and market purchases. These holdings include Bitcoin that is held in custody or pledged for miner purchases under an agreement with Bitmain. To maintain transparency and increase shareholder value, the company has committed to providing periodic updates regarding SPS, which is calculated by multiplying the total Bitcoin holdings by the Satoshi conversion ratio and then dividing by the number of shares outstanding as of the measurement date.
Eric Trump, Co-founder and Chief Strategy Officer of American Bitcoin, emphasized the importance of SPS as a measure of success for Bitcoin accumulation platforms. He noted the company’s focus on transparency as it aims to expand its holdings further.
American Bitcoin’s aggressive acquisition strategy began when Hut 8 launched its U.S. mining arm as a separate publicly traded entity. The company’s trajectory shifted significantly after it initially held around 500 BTC and later acquired an additional 1,726 BTC between July and August for approximately $205 million. These holdings were used as collateral for a substantial order of Antminer units from Bitmain, intended to be hosted at Hut 8’s new Vega site in Texas, a facility critical to American Bitcoin’s aim of reaching 25 EH/s of proprietary hashrate.
American Bitcoin is distinguishing itself from other treasury companies focused on Bitcoin accumulation by integrating mining operations into its strategy. Asher Genoot, the firm’s executive chairman, highlighted that this integrated approach enables the company to produce Bitcoin directly, thereby reducing its average cost per Bitcoin. This cost-saving advantage positions American Bitcoin favorably against traditional vehicles that rely exclusively on purchasing from the open market.
In a significant move earlier this year, American Bitcoin Corp. also merged with Gryphon Digital Mining. This all-stock merger has created a powerful entity, with Gryphon shareholders now owning about 2% of the combined firm, while American Bitcoin stakeholders hold the remaining 98%. The merger not only enhances the Trump-backed firm’s potential for growth in public markets but also amalgamates Gryphon’s advanced mining technology with American Bitcoin’s financial strength and large-scale reserves.
With its comprehensive approach to Bitcoin accumulation and mining, American Bitcoin Corp. is positioning itself as a formidable player in the cryptocurrency landscape.
