American Bitcoin, Backed by Trump Sons, Gathers $23.7 Million in Bitcoin

American Bitcoin, a mining company linked to Donald Trump’s sons, disclosed it owns 215 Bitcoin, valued at approximately $23.7 million. They are actively accumulating Bitcoin as part of their core business model. The firm plans to go public soon and is part of a broader trend among companies adopting Bitcoin into their financial strategies, though this has drawn criticism regarding potential conflicts of interest.

In a recent disclosure to the U.S. Securities and Exchange Commission, American Bitcoin—a mining firm associated with Donald Trump’s sons, Donald Jr. and Eric—has revealed that it has accumulated 215 Bitcoin. This marks a significant asset for the company since its launch in April. As of May 31, the value of this Bitcoin stash is pegged at around $23.7 million, based on market prices that show Bitcoin trading at approximately $110,300, according to CoinGecko.

The filing, dated June 6, indicates that American Bitcoin views its Bitcoin reserves as a key strategic asset. In fact, the firm emphasised that gathering Bitcoin isn’t merely an ancillary activity; it is essential to the core of its business operations. American Bitcoin stated, “Bitcoin accumulation is not a side effect of ABTC’s business. It is the business.”

Continuing with its strategy, American Bitcoin is set on increasing its Bitcoin holdings further as it assesses market trends. Interestingly, the company’s move comes at a time when both public and private enterprises are increasingly diversifying their portfolios with Bitcoin. A trend that really gained traction after Michael Saylor’s company started buying Bitcoin in 2020.

Currently, there are over 100 public companies that have successfully integrated Bitcoin into their corporate treasuries. Many of these entities previously had no links to the cryptocurrency space, indicating a solid shift in how traditional businesses perceive digital assets.

American Bitcoin is also on track to go public, merging with Gryphon Digital Mining, with expectations set for completion in the third financial quarter of this year. This merger positions the firm as a significant player in the Trump family’s growing digital portfolio.

The Trumps, with their increasing involvement in the crypto sector, are already notable figures. Not long ago, they established a decentralised finance platform called World Liberty Fi. Moreover, in a separate venture, Donald Trump Jr. manages Trump Media & Technology Group, which has recently partnered with crypto exchange Crypto.com to launch ETFs based on cryptocurrencies and energy. The Trump brothers have also engaged in various crypto industry events, including speaking at the Bitcoin 2025 conference in Las Vegas.

However, the Trumps’ deeper ties to the cryptocurrency sector have raised eyebrows. Critics from various quarters—including industry experts, policymakers, and members of the public—have voiced concerns. They argue that the family’s cryptocurrency ventures may be exploiting their political standing to boost their wealth.