Two board members of American Bitcoin (ABTC), a Bitcoin mining company backed by the Trump family, made large open market purchases of the company’s stock, according to a Thursday filing.
Justin Mateen, co-founder of Tinder and ABTC director 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.
Fellow board member Richard Busch, a partner at the law firm King & Barrow, has bought about 330,000 shares in the past two days.
The timing is notable as the trading window opened after ABTC released its latest earnings report, making this the first possible purchase by insiders following the disclosure.
The Bitcoin mining company reported a loss of $59 million in the fourth quarter of 2025 as the value of its holdings declined due to the plummeting price of the largest cryptocurrency.
Eric Trump said in a post on X on Wednesday that America currently holds more than 6,500 Bitcoins. $BTCan increase of over 500 $BTC Since the last disclosure. With this update, the company ranks among the 17 largest publicly traded Bitcoin holders in the world.
The miner went public in September, less than a month before Bitcoin reached its all-time high. Along with prices, stock prices are also struggling. $BTCthe stock price has fallen from around $8 levels to the current $1.15.
ABTC follows two strategies: $BTC Mining and direct purchasing. About a third of the company’s Bitcoin comes from its mining operations, the rest is acquired through open market purchases and strategic transactions, and most of its funding comes from stock sales. The company is 20% owned by Eric Trump and Donald Trump Jr.
The company announced on Tuesday that it had acquired 11,298 ASIC miners, increasing its mining capacity by approximately 12%.
read more: Eric Trump’s American Bitcoin buys 11,298 ASIC miners, increasing mining capacity by 12%