Bitcoin mining and treasury firm American Bitcoin (NASDAQ: $ABTC), co-founded by Eric Trump and Donald Trump Jr., said on Wednesday that its total Bitcoin (CRYPTO: $BTC) holdings hit 6,899 BTC.
The Florida based company now ranks 16th place among publicly traded Bitcoin treasury holders, overtaking Mike Novogratz’s Galaxy Digital (NASDAQ: $GLXY) by 5 Bitcoins.
Two weeks ago, the firm reported holding approximately 6,500 BTC, an accumulation of 399 since then.
• Ripple, The Company Behind XRP, Is Valued At $50 Billion
With Bitcoin trading near $71,000, the company’s strategic reserve is now valued at approximately $490 million.
"No company is climbing the ladder faster," said Eric Trump, Co-Founder and Chief Strategy Officer of American Bitcoin, in a social media update following the news. "We now stand as the 16th largest Public Bitcoin Company on Earth!"
The firm, which launched in March 2025 as a majority-owned subsidiary of Hut 8 (NASDAQ: $HUT), has continued to focus on Bitcoin accumulation instead of following a growing number of miners pivoting toward artificial intelligence infrastructure.
Earlier this month, the company added 11,298 ASIC miners to its site in Drumheller, Alberta, an expansion expected to increase its computing power by approximately 3.05 exahashes per second.
The company noted in a recent filing that roughly one-third of its total 6,899 BTC was generated through mining operations at a 53% gross margin, with the remainder acquired through strategic treasury purchases funded by equity offerings.
Notably, Trump Media & Technology Group (NYSE: $DJT) remains higher on the leaderboard, currently ranking 13th among public holders with a reserve of approximately 9,542 BTC.
Shares of American Bitcoin are trading at $1.03, down from a 52 week high of $14.65.