American Bitcoin, a Bitcoin mining company supported by the two eldest sons of President Donald Trump, Eric Trump and Donald Trump Jr., quietly built a reserve of 215 BTC since its beginnings on April 1.
The company, officially known as ABTC, is positioned not only as another mining company, but as a long -term Bitcoin (BTC) accumulator, it has disclosed in a file of June 6 with the Securities and Exchange Commission (SEC) of June 6.
The reserve, worth more than $ 23 million, has not been disclosed before. “ABTC considers that its reserve is a basic strategic asset, managed in an adaptive manner to support the balance of assessment in order to improve the value of long -term shareholders,” said the company.
The company added that its accumulation strategy is open, which means that no fixed BTC target exists. Instead, it continuously assesses market conditions to increase capital when favorable and expand its assets.
“Bitcoin accumulation is not a side effect of ABTC activities. This is the activity. The ABTC layer 2 strategy is designed to transform its Bitcoin production into long-term Bitcoin property,” he wrote.
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Mine without having real estate
In the file, ABTC said that it is investing directly in mining rather than investing in physical infrastructure. The company has more than 60,000 minors, mainly Bitmain and Microbt, deployed in three installations managed by huts in New York, Alberta and Texas.
These minors operate to a combined hashrate of 10.17 exams per second and an average efficiency of 21.2 joules by Terahash. The partnership with HUT 8 allows ABTC to maintain low general costs while expanding production and preserving the flexibility of capital.
ABTC minors contribute to the computing power to established pools such as the foundry and the Luxor. Daily mining awards are distributed according to Hachat contributions, with pool fees maintained below 1%.
Basically, ABTC works on what it calls a three -level strategy. This includes building a profitable mining operation, capital shooting to develop its BTC reserves and play an active role in the wider Bitcoin ecosystem.
ABTC stores its Bitcoin with Coinbase police custody in cold wallets, applying multifactorial authentication and white list withdrawal protocols to improve security, said the company.
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American bitcoin to become public via Gryphon MergeR
On May 12, American Bitcoin announced its intention to make public thanks to a merger with Gryphon Digital Mining. The agreement will be structured as a stock transaction for stock, the merged entity operating under the American Bitcoin brand.
Eric Trump will sit on the company’s board of directors after the merger. In addition, American Bitcoin belongs to the majority by Hut 8, which will retain a management role after the merger.
Under the agreement, current American Bitcoin shareholders will hold around 98% of the new company. HUT 8 will continue to manage mining infrastructure and operations, expectations to generate stable income through long -term trade agreements.
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