Trump Family Supports Mining Company Board Members' Massive Bottom Fishing: Two Executives Splurge on 1.63 Million American Bitcoin Shares

2026.03.05 19:58:58

March 5 — Two directors of American Bitcoin (ABTC), a Bitcoin mining firm backed by the Trump family, collectively bought roughly 1.63 million shares during the post-disclosure window period, per documents. Justin Mateen purchased ~1.3 million shares at an average price of $1 each, while Richard Busch acquired about 330,000 shares over the past two days. ABTC previously reported a net loss of $59 million in Q4 2025. Co-founder Eric Trump noted the company now holds more than 6,500 Bitcoins—up 500 from its last disclosure—ranking 17th globally among public firms for Bitcoin holdings. The firm uses a dual "mining + direct coin purchases" strategy: ~one-third of its Bitcoin comes from mining, with the rest sourced via market buys and strategic trades. ABTC also announced it’s buying 11,298 ASIC mining machines, expected to boost its hash rate by ~12%. Eric Trump and Donald Trump Jr. collectively own ~20% of ABTC’s shares.

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