Trump family’s American Bitcoin buys 416 bitcoins… holdings approach 4,800

American Bitcoin, a Bitcoin (BTC) mining company founded by Eric Trump, the second son of U.S. President Donald Trump, purchased an additional 416 bitcoins.

American Bitcoin said on the 10th (local time) that it bought about 416 bitcoins from the 2nd of this month until recently. With this purchase, American Bitcoin's bitcoin holdings increased to 4,783. American Bitcoin said, "This is the quantity obtained through bitcoin mining and strategic purchases," and added, "It also includes quantities provided as custody or as collateral for miner purchases under a contract with Bitmain." Bitmain is a China-based bitcoin mining machine manufacturer.

'SPS (Satoshis Per Share·satoshis per share)' was calculated at 507. Compared with one month ago (427), it increased by about 18.7%. American Bitcoin explained, "Investors can check the amount of bitcoin they indirectly hold through company shares by SPS."

Eric Trump, Chief Strategy Officer (CSO) of American Bitcoin, said, "(American Bitcoin's) bitcoin holdings continue to expand at an astonishing pace," and added, "Just three months after listing on Nasdaq, American Bitcoin has established itself as one of the largest and fastest-growing bitcoin reserve companies." He added, "Thanks to a competitive cost and margin structure, a foundation has been laid to enable long-term value creation," and "We will focus on executing strategy to further strengthen current momentum."