American Bitcoin, a Bitcoin mining firm backed by Eric Trump and Donald Trump Jr., has accumulated over $23 million in Bitcoin, reaching a reserve of 215 BTC since its launch on April 1. This accumulation represents a strategic move rather than an incidental outcome of its business. The firm plans to go public through a stock-for-stock merger with Gryphon Digital Mining, with Eric Trump joining the board post-merger. ABTC owns over 60,000 mining machines and focuses on a cost-efficient mining operation while maintaining low overhead costs through a partnership with Hut 8. The firm employs a three-tiered strategy that includes capital leveraging to grow Bitcoin reserves and an active role in the Bitcoin ecosystem. Its Bitcoin is stored securely with Coinbase Custody, ensuring safety through advanced security measures.

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