American Bitcoin Corp (ABTC), a subsidiary of Hut 8 Corp trading on Nasdaq, announced the acquisition of 500 BTC for over $30 million, pushing its total Bitcoin holdings past the 8,000 BTC milestone. The purchase represents a 50% growth in institutional reserves in just the first six months of the year, underscoring an aggressive accumulation strategy since the firm's public debut.
The company, strategically led by Eric Trump, now ranks as the 16th-largest public corporate Bitcoin holder, with its reserves valued at approximately $495.7 million. In a post on X, American Bitcoin highlighted that both its Bitcoin reserves and satoshis per share have roughly tripled since its Nasdaq listing.
To finance its mining and commercial expansion, ABTC has utilized leverage by collateralizing its own Bitcoin through agreements with Bitmain. Additionally, the firm executed a 1-for-15 reverse stock split effective July 6, 2026, aimed at maintaining compliance with Nasdaq’s minimum bid rule and reducing stock volatility. The split-adjusted shares began trading near $7.70, still about 91% below their SPAC debut price.
The accumulation comes amid a broader backdrop of institutional Bitcoin movements. Michael Saylor’s Strategy disclosed selling 3,588 BTC for $216 million between late June and early July to fund dividends on preferred shares, while Strive continued its buying spree, reaching 19,882 BTC after adding 17.76 BTC last week. American Bitcoin’s aggressive buying therefore stands out, betting on a bullish turn for Bitcoin as some larger treasuries liquidate portions of their holdings.
