American Bitcoin (ABTC), a mining and finance company linked to the Trump family, now has more bitcoin than Mike Novogratz’s Galaxy Digital (GLXY).
The company owns 6,899 BTC, worth about $491 million, passing Galaxy’s 6,894 BTC to become the 16th largest public holder of the asset, according to data from BitcoinTreasuries.net.
The shift highlights how newer entrants continue to climb the rankings as companies compete to build large bitcoin reserves. At the top is Michael Saylor’s strategy (MSTR) with 761,068 BTC. It is followed by Marathon Digital (MARA) and Jack Mallers’ Twenty One Capital. Other major owners include Bullish ( BLSH ), CoinDesk’s parent company, Coinbase ( COIN ) and Tesla ( TSLA ).
US Bitcoin’s rise also underscores the growing role Trump-affiliated entities are playing in the market. Trump Media & Technology (DJT), the company linked to US President Donald Trump, has 9,542 BTC.
American Bitcoin, formed in March 2025 when Hut 8 (HUT) launched it as a majority-owned subsidiary focused on large-scale mining and keeping bitcoin on its balance sheet. Hut 8 had an 80% stake at launch, with the remaining 20% held by investors including Eric Trump and Donald Trump Jr.
Unlike some mining companies that have started shifting resources towards artificial intelligence infrastructure, US Bitcoin has doubled down on mining operations. In March 2026, it purchased 11,298 ASIC miners for its Drumheller, Alberta site. The machines are expected to increase its capacity by about 12% and add 3.05 exahashes per second, or about 0.3% of the global network’s computing power.
Bitcoin recently traded at $71,092, down 4% over the past day.
