BTIG Gives American Bitcoin Corp. a Bullish Boost with Buy Rating

BTIG has initiated coverage on American Bitcoin Corp., giving it a Buy rating and setting a price target of $15.00.

This represents an upside of 88% from its current price of $7.99, which has declined by 93% over the past year.

The firm noted that American Bitcoin operates with a dual-focused strategy, combining Bitcoin mining operations with open-market purchases.

As part of this strategy, the company has partnered with Hut 8 to contract attractively priced power through an asset-light model.