Two board members of American Bitcoin (ABTC), the Bitcoin mining company backed by the Trump family, made large purchases of the company’s shares on the open market, according to a filing Thursday.
Justin Mateen, co-founder of Tinder and a member of ABTC’s board of directors since March 2025, purchased approximately 1.3 million shares at an average price of approximately $1 per share. The stock closed at $1.15 on Wednesday.
Richard Busch, board member and law firm partner King & Ballow has purchased about 330,000 shares over the past two days.
The timing is notable because the trading window opened after ABTC released its latest earnings report, making them the first purchases insiders could make following the disclosure.
The Bitcoin mining company reported a loss of $59 million in the fourth quarter of 2025 as the sharp drop in the price of the largest cryptocurrency reduced the value of its holdings.
Eric Trump said in an article published on X on Wednesday that US Bitcoin now holds over 6,500 BTC, an increase of over 500 BTC since the last disclosure. This update places the company among the 17 largest publicly traded bitcoin holders in the world.
The miner went public in September, less than a month before bitcoin hit an all-time high. The stock has struggled with the price of BTC, with shares falling from around $8 to the current level of $1.15.
ABTC follows a dual strategy of BTC mining and direct purchases. About a third of its bitcoins come from mining operations, while the rest is acquired through open market purchases and strategic transactions, largely funded by stock sales. The company is 20% owned by Eric Trump and Donald Trump Jr.
The company announced Tuesday that it had purchased 11,298 ASIC miners, a move it said will increase its mining capacity by about 12%.
Learn more: Eric Trump’s US Bitcoin buys 11,298 ASIC miners, increasing mining capacity by 12%
