Trump brothers' American Bitcoin adds another $38 million of the cryptocurrency as total holdings rise to 4,783 BTC

Trump brothers-backed bitcoin mining and treasury firm American Bitcoin (ticker ABTC) said Wednesday it has acquired approximately 416 BTC since its last update on Dec. 2, worth around $38.3 million at current prices.

The latest acquisitions bring its total holdings to around 4,783 BTC ($440 million) as of Dec. 8, cementing it within the top 25 public bitcoin treasury companies and adding to its 363 BTC purchase the week before.

American Bitcoin said that its "satoshis per share" grew more than 17% month-over-month to 507. The metric is designed to show how much bitcoin is attributable to each outstanding share of common stock, offering investors a clearer view of indirect bitcoin ownership through equity, according to the firm.

Eric Trump, the company's co-founder and chief strategy officer, said in a statement that the latest additions underscore the firm's rapid growth trajectory. "In the three months since we listed on Nasdaq, we have built one of the largest and fastest growing bitcoin accumulators, supported by a cost structure and margin profile that positions us for long term value creation," he said. "We remain laser-focused on advancing our strategy and building on this momentum in the months ahead."

American Bitcoin formed as a majority-owned subsidiary of Hut 8 (ticker HUT), backed by Eric Trump and Donald Trump Jr. The firm went public through an all-stock reverse merger with Gryphon Digital Mining in September, with existing shareholders of American Bitcoin, including the Trump brothers and Hut 8, owning about 98% of the combined company.

The firm reiterated that its latest reported bitcoin treasury figure includes amounts purchased but not yet settled in wallets, as well as bitcoin held in custody or pledged for miner purchases. American Bitcoin also noted that share counts before its merger with Gryphon Digital Mining were adjusted to reflect the roughly 14.5:1 exchange ratio.

Around that time, American Bitcoin raised $220 million through equity sales to acquire bitcoin and mining equipment, and the firm said it would primarily build its bitcoin reserve through mining operations.

Bitcoin is up 1.4% over the past 24 hours, according to The Block's BTC price page, with eyes now turning to the U.S. Federal Reserve's latest interest rate decision and Chair Jerome Powell's guidance later on Wednesday.