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BTC American Bitcoin Corporation completes its first year of listing on Nasdaq, Eric Trump reiterates strategic vision
American Bitcoin Corp (Nasdaq: ABTC), a bitcoin mining and asset management company backed by the Trump family, completed its first year of listing on Nasdaq this week. Taking this opportunity, co-founder Eric Trump reiterated the company's ambitious goals of establishing the United States as the dominant force in the global Bitcoin economy.
On September 3, Eric Trump posted on social media platform X that the company currently holds 8,300 bitcoins on its balance sheet and the scale of its mining equipment has expanded to nearly 90,000 units. He expressed pride, saying it resulted in "record quarterly production."
Profits become the focus of attention
Trump emphasized that the company's mining business's gross profit margin is close to 50%, a figure that is seen as a strong proof of strict enforcement discipline. He pointed out that the growth trajectory of U.S. Bitcoin companies is one of the fastest in building public bitcoin treasuries on the market, and attributed this to the team's extraordinary achievements over the past year, especially its particularly strong performance last month.
He further added: "Nearly 90,000 mining machines, record quarterly production, and one of the fastest building public Bitcoin treasury in the global market, with mining gross margins close to 50%."
Mission remains unchanged
Despite these milestones, Trump has carefully positioned them as part of a larger goal rather than an end. He reiterated that the company's core mission has remained unchanged since its inception: "Make the United States a leader in the Bitcoin economy."
However, this statement is in sharp contrast to the market performance of U.S. Bitcoin companies. The company's share price has fallen sharply since its initial public offering on Nasdaq in September last year, forcing the company to conduct a 1:15 reverse share split in July to maintain listing compliance.
Despite this, Trump and the company insist that Bitcoin's treasury strategy is designed to take a long-term view rather than be influenced by short-term stock price fluctuations. As of writing, ABTC shares were down about 5% to close at around $9 per share.
