Trump Sons-Backed American Bitcoin Has Amassed $23.7 Million in BTC

American Bitcoin, a bitcoin mining firm backed by Donald Jr. and Eric Trump, has amassed 215 Bitcoin since its debut in April, according to a recent disclosure from the company to the U.S. Securities and Exchange Commission.

In a filing dated June 6, the digital asset mining firm disclosed it had 215 Bitcoin in its reserves as of May 31. 

The tokens are worth $23.7 million based on current prices. Bitcoin was recently trading at $110,300, according to the same data provider, CoinGecko’s data shows. 

“ABTC considers its reserve a core strategic asset, managed adaptively to support balance sheet strength with a view to enhancing long-term stockholder value,” American Bitcoin wrote in the filing. “Bitcoin accumulation is not a side effect of ABTC’s business. It is the business.”

In the filing, American Bitcoin said it aims to continue accumulating the world’s oldest cryptocurrency, based on its ongoing assessments of market conditions.

The firm’s play to grow its Bitcoin holdings comes as public and private companies increasingly add the token to their balance sheets—a corporate play popularized by Michael Saylor’s software firm Strategy, which began accumulating the asset in 2020. 

More than 100 public companies—a good portion of which have no previous ties to the cryptocurrency industry—have established Bitcoin-based corporate treasuries as of publication time, according to data from Bitcointreasuries.net.

American Bitcoin’s strategy-inspired token acquisitions also come roughly a month after the company unveiled its plans to go public through a merger with Gryphon Digital Mining. The deal is expected to close as early as the third financial quarter of this year. 

The firm is one of several enterprises that compose the First Family’s sprawling digital asset empire. 

U.S. President Donald Trump’s eldest sons started a decentralized finance platform called World Liberty Fi late last year, while Donald Trump Jr. oversees Trump Media & Technology Group, a digital media firm that last spring unveiled a partnership with digital assets exchange Crypto.com to introduce crypto and energy-based ETFs. Meanwhile, Trump sons’ have spoken at several crypto industry events, including the Bitcoin 2025 conference in Las Vegas, Nevada, over the past few months. 

The First Family’s deepening enmeshment with the cryptocurrency industry has drawn pointed criticisms from industry experts, policymakers and the general public, with critics arguing the Trumps appear to be leveraging the U.S. presidency to enrich themselves. 

Edited by James Rubin