American Bitcoin, a Bitcoin mining and treasury firm co-founded by Eric Trump and Donald Trump Jr., announced on Wednesday that it has reached a milestone of 6,899 BTC in total holdings. This achievement positions the Florida-based company 16th among publicly traded Bitcoin treasury holders, surpassing Galaxy Digital, led by Mike Novogratz, by a margin of just five Bitcoins.
In a recent report, American Bitcoin had previously disclosed holdings of around 6,500 BTC just two weeks ago, indicating a significant accumulation of 399 BTC in a short period. With Bitcoin currently trading near $71,000, the firm’s strategic reserve is now valued at approximately $490 million.
Eric Trump, serving as Co-Founder and Chief Strategy Officer of American Bitcoin, celebrated this growth in a social media update, stating, “No company is climbing the ladder faster. We now stand as the 16th largest Public Bitcoin Company on Earth!”
American Bitcoin, which launched as a majority-owned subsidiary of Hut 8 in March 2025, has focused intensively on Bitcoin accumulation, diverging from a trend where many miners are shifting towards artificial intelligence infrastructure. As part of its expansion efforts, the company added a significant number of ASIC miners—11,298—in Drumheller, Alberta. This expansion is anticipated to enhance the company’s computing power by approximately 3.05 exahashes per second.
Additionally, a recent filing revealed that about one-third of American Bitcoin’s total holdings were generated through its mining operations, achieving a gross margin of 53%. The remaining Bitcoin was acquired through strategic treasury purchases financed by equity offerings.
In comparison, Trump Media & Technology Group currently ranks higher on the list of public Bitcoin holders, sitting in 13th place with approximately 9,542 BTC in reserve. Despite the growth of American Bitcoin, shares are currently trading at $1.03, a notable decline from their 52-week high of $14.65.
