ABTC, a Trump Family-Backed Mining Company, Accelerates Bitcoin Accumulation with Current Reserves Reaching 2,130 BTC

According to Jinse Finance, American Bitcoin Company (ABTC), backed by the Trump family, has recently accelerated its Bitcoin acquisitions. From July 1 to August 6, the company purchased an additional 1,726 BTC at a weighted average price of approximately $119,120 per coin, with a total value of $205.6 million. ABTC is a holding subsidiary of Hut 8 Corp. This acquisition brings its strategic Bitcoin reserves to about 2,130 BTC, valued at approximately $254 million at current market prices. The purchase followed ABTC’s completion of a $220 million private equity financing at the end of June. The company plans to go public through a merger with Gryphon Digital Mining, a transaction that has already received approval from the U.S. Securities and Exchange Commission and is expected to go to a shareholder vote later this month.