American Bitcoin (ABTC) has climbed to become the 16th-largest bitcoin holder, with 6,899 BTC, as firms compete to build bitcoin treasuries.
American Bitcoin has climbed to become the 16th-largest bitcoin holder, with 6,899 BTC, as firms compete to build bitcoin treasuries. American Bitcoin, a Trump-linked bitcoin mining and treasury firm, now holds 6,899 bitcoin, making it the 16th-largest public holder of the asset.
The company’s rise, alongside Trump Media & Technology’s 9,542 bitcoin stash, highlights the growing presence of Trump-affiliated entities among major corporate bitcoin holders. Formed in 2025 by Hut 8 and backed in part by Eric Trump and Donald Trump Jr., American Bitcoin is doubling down on mining capacity rather than pivoting to AI infrastructure. The company owns 6,899 BTC, worth about $491 million, edging past Galaxy’s 6,894 BTC to become the 16th largest public holder of the asset, according to data from BitcoinTreasuries.net. The shift highlights how newer entrants continue to climb the rankings as firms compete to build large bitcoin reserves. At the top remains Michael Saylor’s Strategy with 761,068 BTC. It is followed by Marathon Digital and Jack Mallers’ Twenty One Capital. Other major holders include Bullish , CoinDesk’s parent company, Coinbase and Tesla . American Bitcoin’s rise also underscores the growing role of Trump-affiliated entities in the market. Trump Media & Technology , the company linked to U.S. President Donald Trump, holds 9,542 BTC. American Bitcoin, formed in March 2025 when Hut 8 launched it as a majority-owned subsidiary focused on large-scale mining and holding bitcoin on its balance sheet. Hut 8 held an 80% stake at launch, with the remaining 20% owned by investors including Eric Trump and Donald Trump Jr. Unlike some mining firms that have begun shifting resources toward artificial intelligence infrastructure, American Bitcoin has doubled down on mining. In March 2026, it bought 11,298 ASIC miners for its Drumheller, Alberta site. The machines are expected to lift its capacity by about 12% and add 3.05 exahashes per second, or roughly 0.3% of the global network’s computing power. Kraken's parent company filed a draft S-1 registration statement with the SEC in November regarding the proposed initial public offering of its common stock.Kraken paused its IPO plans after confidentially filing with the SEC in November, with sources saying it may revisit a listing when market conditions improve. The delay comes after a banner year for crypto IPOs. Firms like Circle, Bullish and Gemini went public and raised $14.6 billion collectively in 2025. Kraken’s $800 million raise at a $20 billion valuation, and broader industry trends, suggest this year's IPO candidates will emphasize financial infrastructure, compliance, and steady revenue over trading-driven models.
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