A Presidential Family's Bitcoin Treasury Hits a New Milestone
American Bitcoin Corp. (Nasdaq: ABTC), the mining and treasury company co-founded by Eric Trump and Donald Trump Jr., has officially crossed 6,000 BTC in its corporate reserves. As of February 13, 2026, on-chain data from Arkham Intelligence shows the company holds approximately 6,049 BTC, valued at roughly $425.82 million at the time of writing. The milestone places American Bitcoin among the top 20 largest public Bitcoin holders globally, alongside names like Strategy (formerly MicroStrategy), GameStop, and Nakamoto Inc.
The company acquired 196 BTC over the preceding 18 days, a pace that reflects its hybrid accumulation model: mining new coins while simultaneously purchasing on the open market. The facility, which Eric Trump has described as spanning approximately five football fields, produces between 8 and 10 BTC per day through its mining operations alone.
From Gryphon Merger to $5 Billion Debut to 92% Drawdown
American Bitcoin's path to the public markets was unconventional. Rather than pursuing a traditional IPO, the Trump sons and Hut 8 Corp. engineered an all-stock merger with Gryphon Digital Mining in early 2025, bringing American Bitcoin to Nasdaq under the ticker ABTC. The company debuted on September 3, 2025, surging 60% intraday to a high above $13 and briefly touching a $5 billion market capitalization.
The celebration was short-lived. As of February 2026, ABTC trades at approximately $1.14 per share, representing a 92% decline from its 52-week high of $14.65. The market cap has contracted to roughly $1.05 billion despite the company steadily growing its Bitcoin treasury. Average daily trading volume sits at 12.39 million shares, suggesting persistent retail interest even as the price deteriorates.
The disconnect between ABTC's rising BTC holdings and falling stock price mirrors a pattern seen across the corporate Bitcoin treasury space. Strategy, the original Bitcoin treasury company, has faced similar periods where its stock traded at a steep discount to its net asset value. The question for ABTC investors is whether the market is pricing in governance risk, dilution concerns from the planned $2.1 billion stock offering, or simply the broader crypto malaise that has dragged BTC below key support levels in early 2026.
The Ownership Structure and Governance Questions
Hut 8 Corp., one of North America's largest Bitcoin mining firms, holds 80% of American Bitcoin. Eric Trump and Donald Trump Jr. collectively own approximately 20%. Asher Genoot, Hut 8's CEO, serves as chairman of American Bitcoin's board.
This structure creates an unusual corporate governance dynamic. Hut 8 contributed the majority of its mining ASICs (application-specific integrated circuits) to American Bitcoin in exchange for its supermajority stake, effectively spinning off its pure-play Bitcoin mining and treasury operations into a vehicle with the Trump name attached. The $220 million private stock offering that facilitated the Gryphon merger diluted early shareholders, and the announced $2.1 billion additional raise would dilute them further.
For retail investors, the governance concentration raises questions. The Trump family name draws attention and trading volume, but the operational control rests primarily with Hut 8's leadership. Meanwhile, the political dimension is inescapable: the sitting president's sons run a publicly traded Bitcoin mining company while the administration actively shapes crypto regulation through agencies like the SEC and CFTC. Senate Democrats have already demanded CFIUS review of the $500 million UAE stake in the Trump family's other crypto venture, World Liberty Financial, signaling that scrutiny will only intensify.
What 6,000 BTC Means in Context
To understand where American Bitcoin sits in the corporate BTC landscape, consider the scale. Strategy holds over 714,000 BTC. Tesla holds roughly 11,000 BTC. Marathon Digital holds around 46,000 BTC. American Bitcoin's 6,049 BTC places it in a tier with companies like Hive Digital and Riot Platforms, well below the mega-holders but large enough to rank in the top 20.
The daily mining output of 8 to 10 BTC translates to roughly 240 to 300 BTC per month, or approximately 2,900 to 3,650 BTC annually at current rates. At that pace, and assuming continued open-market purchases, American Bitcoin could realistically hold 10,000 BTC by the end of 2026. The $2.1 billion stock raise, if completed, would accelerate that timeline dramatically, potentially doubling or tripling the treasury depending on Bitcoin's price at the time of execution.
But the mining economics are not straightforward. Post-halving mining margins are tighter, energy costs fluctuate, and the difficulty adjustment means the 8-10 BTC daily output is not guaranteed. The halving cycle, as Genoot himself has noted publicly, reduces Bitcoin issuance every four years, making each mined coin progressively more expensive to produce.
The Broader Political Bitcoin Mining Play
American Bitcoin is not an isolated case. The Trump administration has positioned the United States as a Bitcoin mining hub, with executive orders aimed at reducing regulatory friction for domestic mining operations. The CLARITY Act, which CFTC Chair Selig recently described as being "on the cusp" of passage, would further cement the regulatory framework that benefits operations like American Bitcoin.
The political entanglement cuts both ways. Supporters argue that a presidential family with direct financial exposure to Bitcoin creates aligned incentives for pro-crypto policy. Critics counter that it creates conflicts of interest where regulatory decisions could directly enrich the president's family. The Senate Democrats' CFIUS push on World Liberty Financial is the first concrete legislative action in this direction, and American Bitcoin will likely face similar scrutiny as its treasury grows.
For the broader crypto ecosystem, the story is simpler: another publicly traded company is aggressively accumulating Bitcoin, adding buy pressure and reducing circulating supply. Whether the motivation is financial, political, or both, the 6,049 BTC sitting in American Bitcoin's treasury is real, on-chain, and growing.
FAQ
How many Bitcoin does American Bitcoin hold? As of February 13, 2026, American Bitcoin holds approximately 6,049 BTC, valued at roughly $425.82 million. The company acquired 196 BTC over the preceding 18 days through a combination of mining and market purchases.
Who owns American Bitcoin? Hut 8 Corp. holds 80% of American Bitcoin. Eric Trump and Donald Trump Jr. collectively own approximately 20%. Asher Genoot, Hut 8's CEO, serves as chairman of American Bitcoin's board.
How much Bitcoin does American Bitcoin mine per day? The operation produces between 8 and 10 BTC daily. The mining facility spans approximately five football fields.
Why has ABTC stock fallen so much despite growing BTC holdings? ABTC has declined approximately 92% from its 52-week high of $14.65 to around $1.14. Contributing factors likely include dilution concerns from the planned $2.1 billion stock offering, broader crypto market weakness in early 2026, and the gap between the company's BTC treasury value and its equity market capitalization.
Overview
American Bitcoin Corp. has crossed a meaningful milestone with 6,049 BTC in its corporate treasury, earning a spot among the top 20 public Bitcoin holders. The Trump family venture mines 8 to 10 BTC daily and supplements production with open-market purchases, a hybrid model borrowed from Strategy's playbook. But the stock tells a different story: ABTC has shed 92% of its value since debuting at a $5 billion valuation in September 2025, now trading at roughly $1.14 with a $1.05 billion market cap. The political dimension, with a sitting president's sons running a publicly traded Bitcoin operation while the administration shapes crypto regulation, ensures this story will remain under the spotlight as the treasury grows toward what could be 10,000 BTC by year-end. For investors and crypto holders alike, the lesson is familiar: holding Bitcoin and holding Bitcoin-adjacent equities are two very different propositions.
Recommended Reading
- Strategy Signals Its 99th Bitcoin Purchase as Saylor Buys the Dip on 714,644 BTC and a $5.1 Billion Unrealized Loss
- Senate Democrats Demand CFIUS Review of the $500M UAE Stake in Trump's World Liberty Financial
- The CLARITY Act Explained: What It Does, Why It Stalled, and What Happens Next
