Two members of the board of directors of American Bitcoin (ABTC), the bitcoin mining company backed by the Trump family, have made significant purchases of the company’s shares on the open market, according to a document filed Thursday.
Justin Mateen, co-founder of Tinder and member of ABTC’s board of directors since March 2025, bought approximately 1.3 million shares at an average price of about $1 per share. The stock closed at $1.15 on Wednesday.
Richard Busch, member of the board of directors and partner of the law firm King & Ballow, bought about 330,000 shares in the last two days.
The timing is notable, as 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 a Wednesday post on X that American Bitcoin now holds more than 6,500 BTC, an increase of more than 500 BTC since the last disclosure. The upgrade 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 a record high. The stock has struggled along with the BTC price, with shares falling from around the $8 level to the current $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 share sales. The company is 20% owned by Eric Trump and Donald Trump Jr.
The company announced on Tuesday that it had purchased 11,298 ASIC miners, a move it said will increase its mining capacity by about 12%.
Read more: Eric Trump’s US Bitcoin buys 11,298 ASIC miners, increasing mining capacity by 12%
