Mentioned:
ABTC -5.28% DOMH -4.60%
American Bitcoin wants to dominate Bitcoin mining in the United States. And they’re already starting to stack Bitcoin from their operations.
What’s happening:
- American Bitcoin has revealed that they are now holding 215 Bitcoin through new filings with the United States Securities and Exchange Commission
By the numbers:
- American Bitcoin’s Bitcoin holdings are worth roughly $23M USD and come from American Bitcoin’s mining operations
Why it matters:
- Eric Trump and Donald Trump Jr are two of the co-founders of American Bitcoin and are aiming to build the single largest Bitcoin mining operation in all of the United States of America
Going deeper:
- American Bitcoin has formed a strategic partnership with Hut 8 (NASDAQ: HUT) in which Hut 8 has taken a significant equity stake in American Bitcoin in exchange for contributing 61,000 ASIC mining rigs to the company
- American Bitcoin also recently made waves on Wall Street when they announced a merger agreement with Gryphon Digital Mining (NASDAQ: GRYP) to become publicly traded
The intrigue:
- Dominari Holdings (NASDAQ: DOMH) also owns a meaningful equity stake in American Bitcoin, which was largely fuelled by a previous $13.5M USD financing round to expand into data centres and high performance computing and also saw both Eric Trump and Donald Trump Jr join Dominari Holdings as strategic advisors
