Trump Brothers' American Bitcoin Boosts BTC Holdings to $415 Million

American Bitcoin, a Bitcoin mining company backed by the Trump brothers, has increased its holdings to 4,004 BTC, valued at approximately $415 million. This makes American Bitcoin the 25th largest Bitcoin treasury. Between October 24 and November 5, the company purchased 139 Bitcoins worth over $14 million. The firm, which went public on Nasdaq in September, aims to become the world's largest and most efficient Bitcoin miner. CEO Eric Trump stated that the company is expanding its Bitcoin holdings rapidly through a combination of mining and strategic purchases. While Bitcoin's price has fluctuated, it recently traded around $103,369, reflecting a market uptick after a decline from its all-time high of over $126,000 in early October. The company was formed from a joint venture with Hut 8 and Gryphon Digital Mining, two established players in the cryptocurrency space, and aims to leverage their mining operations for growth.

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