Two board members of American Bitcoin ( ABTC ), the bitcoin mining company backed by the Trump family, have made significant open market purchases of the firm’s stock, according to a Thursday filing.
Justin Mateen, co-founder of Tinder and an ABTC board member 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.
Co-board member Richard Busch, partner in the law firm King & Ballow, bought about 330,000 shares over the past two days.
The timing is notable as the trading window opened after ABTC released its latest earnings report, making these the first purchases that insiders could make after the announcement.
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 US Bitcoin now holds more than 6,500 BTC, an increase of over 500 BTC since the last announcement. The update places the firm among the world’s 17 largest publicly traded bitcoin holders.
The miner went public in September, less than a month before bitcoin hit an all-time high. The stock has struggled along with the price of BTC, 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 bitcoin comes from mining, while the rest is acquired through open market purchases and strategic transactions, mainly funded by stock 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, Increases Mining Capacity by 12%
