ABTC Director Makes $1.93M Bet on American Bitcoin Corp

American Bitcoin Corp director Justin Mateen made a significant investment in his company's stock, purchasing 306,981 shares for $1.93 million after its record Q2 earnings report.

The purchase was made on August 5 and 6, with Mateen buying 144,543 shares at an average price of $6.3964 per share on the first day and another 162,438 shares at $6.1873 per share the following day.

This brings his total beneficial ownership to 492,297 shares.

The timing of the purchase is notable, as it came immediately after American Bitcoin Corp released its Q2 earnings report, which showed a net loss of approximately $57 million despite record mining output of 932 BTC.