 
 
American Bitcoin Corp, a Miami-based mining company majority owned by Hut 8 and backed by the Trump family, has added more BTC to its holdings. The Miami, Florida-based firm now owns 4,004 BTC, worth $415 million, making it the 25th largest Bitcoin treasury, per data from BitcoinTreasuries.
American Bitcoin Added Another 139 BTC
According to a Friday announcement, American Bitcoin acquired 139 Bitcoins between October 24 and November 5, now worth around $14 million.
The haul, as of November 5, includes BTC purchased via mining and strategic buys, as well as Bitcoin held in custody or pledged for miner purchases under a deal with BITMAIN.
The firm’s Bitcoin-per-share ratio, a metric that measures the amount of Bitcoin attributable to each outstanding share of common stock, rose to 432 as of November 5, representing a 3.4% gain over 12 days.
“We continue to expand our Bitcoin holdings rapidly and cost-effectively through a dual strategy that integrates scaled Bitcoin mining operations with disciplined at-market purchases,” Eric Trump, who serves as American Bitcoin’s chief strategic officer, said.
 
The sons of U.S. President Donald Trump, Eric and Donald Trump Jr, owned American Data Center, which merged with American Bitcoin. According to earlier reports, mining firm Hut 8 acquired an 80% stake in it in exchange for Hut 8’s Bitcoin mining hardware, with the Trump brothers owning 20%.
Political Ties And Increasing Scrutiny
President Trump’s deepening ties with the crypto sector have drawn fury from politicians. His recent pardon of former Binance CEO Changpeng “CZ” Zhao, who pleaded guilty in 2023 to violating U.S. money laundering laws and served four months in federal prison, triggered accusations of corruption and conflicts of interest.
Top democrat Maxine Waters described the move as “an appalling but unsurprising reflection of his presidency” and claimed that Trump is “doing massive favors for crypto criminals.” She also accused him of “pay-to-play corruption” and of using the presidency to gain personal wealth.
The statements follow analysis finding that Trump’s second term in office has coincided with an astounding increase in his personal wealth. Notably, the Trump family has reportedly made a staggering $1 billion in profits from crypto businesses.