The Bitcoin company supported by the Trump family accelerates its accumulation of BTC, with reserves reaching 2,130 coins

ChainCatcher news, according to The Miner Mag, the American Bitcoin Company (ABTC) supported by the Trump family has recently accelerated its Bitcoin acquisitions, purchasing an additional 1,726 BTC at a weighted average price of approximately $119,120 per coin between July 1 and August 6, totaling $205.6 million. ABTC is a subsidiary of Hut 8 Corp., and this acquisition increases its strategic Bitcoin reserves to approximately 2,130 BTC, valued at about $254 million at current market prices.

This acquisition took place after ABTC completed a $220 million private equity financing at the end of June. The company plans to go public through a merger with Gryphon Digital Mining, a transaction that has been approved by the U.S. Securities and Exchange Commission, with a shareholder vote expected later this month.