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Board members Justin Mateen and Richard Busch acquired approximately 1.6 million shares following the reopening of the trading window after the bitcoin miner’s recent earnings announcement.
Eric Trump, co-founder and chief strategy officer, American Bitcoin. (CoinDesk)
Key points:
- Board members Justin Mateen and Richard Busch of American Bitcoin purchased around 1.63 million shares collectively in open-market transactions.
- The bitcoin miner indicated a $59 million loss for the fourth quarter, with Eric Trump stating the company now possesses over 6,500 BTC, making it the 17th-largest publicly traded bitcoin holder.
- ABTC implements a dual approach of mining and direct BTC acquisitions, recently adding 11,298 ASIC miners to enhance capacity by approximately 12%.
Two board members of American Bitcoin (ABTC), the bitcoin mining enterprise associated with the Trump family, have engaged in notable open-market share acquisitions of the company’s stock, as reported in a Thursday filing.
Justin Mateen, co-founder of Tinder and an ABTC board member since March 2025, procured about 1.3 million shares at an average cost of around $1 per share. The stock closed at $1.15 on Wednesday.
Another board member, Richard Busch, a partner at the law firm King & Ballow, acquired roughly 330,000 shares over the past two days.
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This timing is significant, as the trading window reopened following ABTC’s latest earnings report, marking the first opportunities for insiders to make purchases after the disclosure.
The bitcoin mining company disclosed a $59 million loss for the fourth quarter of 2025, as the steep drop in the price of the leading cryptocurrency diminished the value of its holdings.
Eric Trump noted in a Wednesday update on X that American Bitcoin now holds more than 6,500 BTC, which is an increase of over 500 BTC since the previous disclosure. This update positions the company among the top 17 publicly traded bitcoin holders globally.
The miner became publicly traded in September, shortly before bitcoin hit an all-time high. The stock has faced challenges alongside the BTC price, with shares declining from around the $8 mark to the present $1.15.
ABTC is pursuing a dual strategy involving BTC mining and direct acquisitions. Approximately one-third of its bitcoin is sourced from mining activities, while the rest is obtained through open-market purchases and strategic deals, mainly financed by stock sales. The company is 20% owned by Eric Trump and Donald Trump Jr.
On Tuesday, the firm announced the acquisition of 11,298 ASIC miners, a decision that it claims will raise its mining capacity by about 12%.
Read more: Eric Trump’s American Bitcoin buys 11,298 ASIC miners, increasing mining capacity by 12%
