American Bitcoin Crosses 8,000 BTC as Eric Trump Touts 52% Mining Margin
Eric Trump's Bitcoin mining company crossed a milestone this week, pushing its corporate treasury past 8,000 BTC even as its publicly traded shares continued to struggle.
THE ANNOUNCEMENT
American Bitcoin Corp. (NASDAQ: ABTC), the hybrid BTC mining and treasury company co-founded by Eric Trump, crossed 8,000 BTC in its corporate Bitcoin treasury on July 7, 2026, a holding worth approximately $504 million at Bitcoin's prevailing price.
Trump, who serves as Chief Strategy Officer of American Bitcoin, said the company generated a 52% mining profit margin during the first quarter of 2026 while maintaining "one of the lowest SG&A ratios in the industry." Trump added: "The stacking continues. Huge congrats to the incredible ABTC team! Onwards we go!"
HOW THE TREASURY IS BUILT
The company funds treasury growth through two channels: in-house BTC mining and open-market purchases. ABTC added a net 1,620 BTC in Q1 2026 alone, of which 817 BTC came from direct mining production.
American Bitcoin is a majority-owned subsidiary of Canada-listed Hut 8 Corp. The company was formed in March 2025 through a partnership between Hut 8 and Eric Trump and Donald Trump Jr., who together hold roughly a 20% stake, while Hut 8 retains an 80% ownership interest. The company became publicly traded in September 2025 through a reverse merger with Gryphon Digital Mining.
THE EQUITY DISCONNECT
The treasury milestone masked a sharply divergent story on the equity side. Shares fell 23.2% to close at $6.52 on the day of the announcement, and since the company's Nasdaq debut in September 2025, ABTC shares have plummeted 94%, erasing about $500 million in shareholder value.
American Bitcoin completed a 1-for-15 reverse stock split last week to regain compliance with Nasdaq's minimum bid price requirement. The split has not stabilized the stock, with shares down 38% since then.
In Q1 2026, the company reported a net loss of $81.8 million amid declining Bitcoin prices, even though its mining margin remained above 50%. The all-in cost to mine one BTC was approximately $36,200 at the end of the quarter.
WHERE IT STANDS IN THE CORPORATE TREASURY LANDSCAPE
American Bitcoin Corp. co-founder Eric Trump celebrated after the company surpassed 8,000 Bitcoin in its corporate treasury. The holding is worth approximately $504 million, positioning the company as the 16th-largest corporate Bitcoin holder, surpassing firms including Galaxy Digital.
Strategy, the Michael Saylor-led firm, holds 843,775 BTC on its balance sheet, worth over $52.9 billion at current prices. The gap between the two companies underscores how different their capital models are: Strategy has deployed repeated debt and equity issuances to accumulate Bitcoin at scale, while American Bitcoin has relied primarily on mining production supplemented by direct purchases.
Eric Trump told the Bonnie Blockchain podcast that it would take a "beyond catastrophic" scenario for the company to consider selling its holdings. The treasury keeps growing. What remains unresolved is whether the equity structure can ever close the gap between the BTC balance sheet and what shareholders actually capture from it.
