American Bitcoin overtakes Galaxy Digital with 6,899 BTC in treasury
American Bitcoin has surpassed Galaxy Digital in Bitcoin holdings, now ranking as the 16th-largest publicly listed company in terms of BTC reserves. The firm holds approximately 6,899 Bitcoin, valued at around $492 million at current prices near $71,000. Eric Trump, co-founder and chief strategy officer, announced the milestone on social media, noting the company's rapid growth. Just two weeks prior, American Bitcoin reported holdings of roughly 6,500 Bitcoin, indicating an addition of about 399 Bitcoin in that period.
The company was established in March 2025 as a majority-owned subsidiary of Hut 8, with an 80% stake at launch. The remaining 20% was held by investors, including Eric Trump and his brother Donald Trump Jr. American Bitcoin focuses on industrial-scale mining and building a strategic Bitcoin reserve, distinguishing itself by accumulating Bitcoin at a cost below spot price through scaled mining.
In March 2026, the company expanded its mining operations by purchasing 11,298 ASIC miners for its Drumheller, Alberta, facility. These machines are expected to add 3.05 exahashes per second of computing power, representing roughly 0.3% of the global Bitcoin network's total hash rate. The purchase is anticipated to increase the company's overall mining capacity by about 12%.
The broader rankings highlight the competitive nature of the Bitcoin holding space. Michael Saylor's MicroStrategy leads all public holders with 761,068 Bitcoin, followed by Marathon Digital and Jack Mallers' Twenty One Capital. Trump Media & Technology Group, operator of the Truth Social platform, holds approximately 9,542 Bitcoin and ranks 13th. American Bitcoin trades under the ticker AABTC and has not disclosed a timeline for its next holdings update.