American Bitcoin (ABTC), a mining and treasury firm backed by the Trump family, has overtaken Mike Novogratz’s Galaxy Digital (GLXY) in corporate Bitcoin holdings. According to data from BitcoinTreasuries.net, ABTC now holds 6,899 BTC, worth approximately $491 million, edging past Galaxy Digital's 6,894 BTC. This makes ABTC the 16th largest public holder of Bitcoin globally.
The shift highlights the intensifying competition among corporations to build substantial Bitcoin reserves on their balance sheets. The ranking is still led by Michael Saylor’s MicroStrategy (MSTR) with a massive 761,068 BTC, followed by Marathon Digital (MARA) and Jack Mallers’ Twenty One Capital. Other notable corporate holders include Bullish (BLSH), CoinDesk’s parent company, Coinbase (COIN), and Tesla (TSLA).
ABTC was formed in March 2025 as a majority-owned subsidiary of Hut 8 (HUT), focused on large-scale Bitcoin mining and treasury accumulation. At launch, Hut 8 held an 80% stake, with the remaining 20% owned by investors including Eric Trump and Donald Trump Jr. The emergence of Trump-affiliated entities adds a political dimension to the corporate crypto treasury market. Separately, Trump Media & Technology (DJT) holds 9,542 BTC. Combined, Trump-linked entities control roughly 16,441 BTC, demonstrating a sustained commitment to Bitcoin as a corporate store of value.
Unlike several mining firms that have begun pivoting resources toward artificial intelligence (AI) infrastructure, ABTC has doubled down on its Bitcoin mining focus. In March 2026, the company purchased 11,298 ASIC miners for its Drumheller, Alberta site. This equipment is expected to increase its mining capacity by about 12%, adding 3.05 exahashes per second (EH/s), or roughly 0.3% of the global Bitcoin network's computing power.
ABTC's aggressive accumulation of 6,899 BTC in just over a year since its formation demonstrates a rapid acquisition velocity. The company's strategy positions it as a pure-play participant in both obtaining newly minted bitcoins and treasury accumulation, potentially allowing it to climb further in the rankings of largest public holders in the coming months.
