American Bitcoin Adds 1,414 BTC Since September as Mining Expansion Gains Pace
American Bitcoin, the Trump family-backed proprietary mining subsidiary of Hut 8 (NASDAQ: HUT), has increased its holdings to 3,865 BTC through mining and secondary market purchases.
The company said on Monday that it has accumulated 1414 BTC since September. The total holdings include Bitcoin held in custody and those pledged for miner purchases under its existing agreement with Bitmain.
American Bitcoin’s latest update marks a continuation of its steady accumulation since its carve-out from Hut 8 earlier this year. The company initially held about 500 BTC following the separation, then acquired another 1,726 BTC between July and Aug. 6 for approximately $205 million. Those holdings — totaling around 2,234 BTC at the time — were pledged to Bitmain as collateral to exercise a $314 million purchase option for 16,299 Antminer U3S21EXPH units.
As noted in a previous Miner Weekly issue, that order represented nearly the full 15 EH/s option under the procurement deal with Bitmain and is central to American Bitcoin’s goal of reaching 25 EH/s of proprietary hashrate. The machines are expected to be hosted primarily at Hut 8’s newly energized Vega site in Texas, the flagship facility powering American Bitcoin’s mining expansion.
With the additional 1,400 BTC accumulated since September, American Bitcoin is currently the fifth largest public bitcoin mining firm by total BTC reserves, after MARA, CleanSpark, Riot and Cango.
