American Bitcoin, a Bitcoin mining firm supported by two eldest son of President Donald Trump Eric Trump and Donald Trump Jr., has quietly built a 215 BTC reserve since his debut on April 1.
The company, formally known as ABTC, positions itself not only as another mining adventure but as a long -term accumulator of Bitcoin (Btc), revealed this on a June 6 File with the US Securities and Exchange Commission (SEC).
The stash, which is currently worth more than $ 23 million, has not previously disclosed. “The ABTC considers its reserve of a major strategic property, which is managed to support the strength of the sheet sheet with a view of enhancing the long-term value of the stockholder,” the firm said.
The firm added that its accumulation approach is open, meaning no BTC target is fixed. Instead, market conditions continue to assess to raise capital when desirable and expanding its holdings.
“The accumulation of Bitcoin is not an impact of the ABTC business. This is the business. The approach to Layer 2 of ABTC is designed to change its Bitcoin production to the long-term ownership of Bitcoin,” he wrote.
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Mining without rendering real estate
In the filing, the ABTC said it was invested directly in mining than investing in physical infrastructure. The firm owns more than 60,000 miners, especially from Bitmain and MicRont, deployed to three facilities managed 8 in New York, Alberta and Texas.
These miners operate with an integrated hashrate of 10.17 exahashes per second and average efficiency of 21.2 joules per tehahash. Hut 8 collaboration gives ABTC to keep the overhead low while scaling output and maintaining capital flexibility.
ABTC miners contribute to the power of computing in established pools such as Foundry and Luxor. Daily -day mining rewards are distributed based on hashrate contributions, with pool fees that are kept less than 1%.
At its core, the ABTC runs in the so-called three-tiered approach. This includes developing a good mining operation, seizure of capital to grow BTC reserves, and play an active role in the broader Bitcoin ecosystem.
ABTC has stored its Bitcoin with Coinbase in the cold purse, applying multifactor validation and whitelisted protocols of removal to improve security, the firm said.
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American Bitcoin to go public by GRYPHON MERGEr
On May 12, American Bitcoin announced plans to go public by an integration with GRYPHON digital mining. The deal will be structured as a transaction in the stock-for-stock, along with the combined entity that operates under the American Bitcoin brand.
Eric Trump will sit on the company board following the integration. Moreover, American Bitcoin is a majority owned by Hut 8, which will maintain a post-mus-master management.
Under the agreement, the current shareholders of American Bitcoin will hold about 98% of the new company. Hut 8 will continue to manage infrastructure and mining operations, with expectations to generate stable income through long -term commercial agreement.
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