Trump Family Backs Mining Firm Execs' Big Bet: Two Executives Buy 1.63M Shares of American Bitcoin

BlockBeats News, March 5th, documents show that two directors of American Bitcoin (ABTC), a Bitcoin mining company supported by the Trump family, collectively increased their holdings by approximately 1.63 million shares of the company's stock during the post-disclosure window period. Justin Mateen purchased approximately 1.3 million shares at an average price of about $1 per share, while Richard Busch purchased around 330,000 shares over the past two days.

Previously, the company reported a net loss of approximately $59 million for the fourth quarter of 2025. Co-founder Eric Trump stated that the company currently holds over 6,500 Bitcoins, an increase of about 500 Bitcoins since the last disclosure, ranking 17th among global publicly traded companies in Bitcoin holdings.

ABTC adopts a dual strategy of "mining + direct purchase," with about one-third of its Bitcoin coming from mining and the rest obtained through market purchases and strategic trades. The company also announced the purchase of 11,298 ASIC miners, which is expected to increase its hash rate by around 12%. Currently, Eric Trump and Donald Trump Jr. collectively hold approximately 20% of the company's shares.