American Bitcoin Corp. says its treasury now tops 8,000 BTC, pushing its public Bitcoin reserve into the upper tier of corporate holders and sparking a bounce in its shares.
Key points
- Treasury: In a July 6 update on X, American Bitcoin reported its Bitcoin reserve has surpassed 8,000 BTC — roughly $512 million at current prices (about $64k per BTC). BitcoinTreasuries ranks the company near the top of publicly traded U.S. BTC holders, ahead of GD Culture Group and Galaxy Digital.
- Growth since Nasdaq debut: The company says its Bitcoin reserve and its satoshis-per-share metric have each grown roughly threefold since listing.
- Share performance: ABTC stock traded at $8.49 at the time of writing, up 14.1% on the day. The session range was $7.40–$9.31 with volume above 2.17 million shares.
- Reverse split: The rally follows a 1-for-15 reverse stock split that became effective July 2. Issued shares fell from about 1.09 billion to roughly 73 million; Class A shares began trading split-adjusted on Nasdaq from July 6 under the same ABTC ticker. Management said the split was aimed at lifting the per-share price and maintaining compliance with Nasdaq’s minimum bid rules.
Financial and operational recap
- Q1 2026 results: American Bitcoin posted an $81.8 million net loss in Q1 2026. A 22% drop in Bitcoin’s price during the quarter produced a $117.2 million non-cash mark-to-market charge on its digital holdings.
- Mining and costs: The company mined 817 BTC during the quarter and reduced its cost per mined Bitcoin to $36,200 — down 23% from $46,900 in Q4 2025. It also bought 803 BTC in the quarter, leaving it with 7,021 BTC as of March 31.
- Management view: CEO Mike Ho said the underlying business was profitable and emphasized that the company did not sell any coins, pointing to the mark-to-market charge as the primary driver of the reported loss.
Background and strategy
- Origins and backing: Launched in March 2025 by Hut 8 and Eric Trump, American Bitcoin is backed by Eric Trump and Donald Trump Jr. The company’s model focuses on self-mining and accumulating a strategic Bitcoin reserve, rather than pivoting toward AI data centers.
- Ongoing accumulation: The latest treasury update indicates the firm continues to add BTC after the March quarter, even amid earlier pressure on its share price.
What to watch
- Future performance of ABTC will remain tightly linked to Bitcoin’s market price, mining costs and efficiency, and investor appetite for publicly traded Bitcoin treasury firms. Additional mining output or purchases will be key signals for further reserve growth.
Bottom line: American Bitcoin’s crossing of the 8,000 BTC threshold and its post-split stock rebound mark a notable milestone for the young, miner-focused treasury play — but it remains exposed to crypto market swings and mining economics.
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