Hut 8 10-Q reveals that Trump-led American Bitcoin bought 1,726 Bitcoin

Hut 8’s (HUT) Q2 2025 10-Q revealed that its majority-owned subsidiary American Bitcoin (ABTC) had purchased 1,726 BTC for $205.6 million between July 1 and August 6. This is an average price of $119,120 per BTC.

A HUT 8-K filed on June 30 indicated that American Bitcoin had raised about $215 million in net proceeds from a private placement involving 11,002,954 shares of ABTC class A common stock. $10 million of this raise was paid in BTC. The proceeds were earmarked for BTC accumulation goals. Given the news from the most recent 10-Q, it’s clear that American Bitcoin has already deployed the remaining cash proceeds to expand its Bitcoin treasury.

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American Bitcoin launched in March 2025 as a majority‑owned subsidiary of Hut 8 to concentrate on industrial‑scale bitcoin mining and long‑term BTC accumulation. The structure separates miner ownership and treasury activity from Hut 8’s core infrastructure operations, with Hut 8 providing sites, power, and managed services under contractual fee arrangements. Eric Trump serves as American Bitcoin’s chief strategy officer and co-founder.

ABTC is moving to public markets via an all‑stock combination with Gryphon Digital Mining. The S‑4 became effective on July 31, the Gryphon shareholder vote is scheduled for August 27, and closing is targeted for early September. Post‑close, Hut 8 is expected to own about 64.37% of ABTC and continue consolidating its results.

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