American Bitcoin reaches 6,500 BTC treasury as mining strategy expands

American Bitcoin Corp, a publicly traded mining company associated with the Trump family, has increased its Bitcoin treasury to 6,500 BTC, accumulating over 500 coins in the last 21 days, positioning it as the 17th largest corporate holder globally. This move aligns with a trend of miners retaining mined Bitcoin instead of selling for operational costs. The company's holdings are currently valued around $465 million. Concurrently, American Bitcoin is expanding its mining capacity by acquiring 11,298 new ASIC machines, which will boost its total fleet to about 89,000 machines, adding 3.05 exahash per second of computing power, with deployment scheduled for its Drumheller facility in Alberta. Despite a recent stock rally, shares remain significantly below their peak. Furthermore, two company directors, Justin Mateen and Richard Busch, recently increased their stakes through open-market share purchases.

(Source：Crypto Briefing)