American Bitcoin, a bitcoin mining company tied to Donald Trump Jr. and Eric Trump, is looking to Asia for its next big move.
According to a report from the Financial Times, the company is exploring acquisitions in Japan and Hong Kong as part of its plan to build one of the largest bitcoin treasuries in the world.
The company, which went public via a merger with Nasdaq-listed Gryphon Digital Mining recently, wants to follow Michael Saylor’s strategy in acquiring as many bitcoin as it can.
Strategy has the largest bitcoin holdings of any public company with over 628,000 BTC – currently worth over $73 billion. American Bitcoin is tiny by comparison. According to BitcoinTreasuries, the company holds just 1,941 BTC.
But it has big plans. In June, it raised $200 million to boost its bitcoin treasury and buy more mining equipment. The company’s mission is to “build the strongest and most efficient bitcoin accumulation platform in the world.”
The Trumps’ company believes Asia is the right place to speed up its growth. Japan is the top focus, with Hong Kong also being considered. Both have strong Bitcoin communities and are becoming more open to digital asset businesses.
Sources told the Financial Times the company is in early talks with investors and potential targets. The plan is to acquire at least one publicly listed company in Asia and convert it into a bitcoin treasury vehicle.
“(The) ambition is to build the strongest and most efficient Bitcoin accumulation platform in the world,” the company said in a statement. “While we are evaluating possibilities in certain regions, we have not made any binding commitments.”
If successful, the acquisitions could put American Bitcoin in the same league as the world’s biggest bitcoin treasury companies. For now though, the company is still in the early stages.
American Bitcoin is just one of the many Trump-linked digital asset businesses.
Eric Trump is the company’s co-founder and chief strategy officer. The company was originally known as American Data Centers before it was rebranded earlier this year after a joint venture with Canadian miner Hut 8.
The Trump family is getting more involved in digital assets overall.
President Donald Trump’s World Liberty Financial recently launched its own stablecoin, USD1. In the meantime, Trump Media & Technology Group is raising $2.5 billion for a bitcoin treasury.
American Bitcoin is following the same playbook as Strategy: turning a public company into a vehicle for bitcoin accumulation. This is a trend that’s gaining popularity among corporations globally as bitcoin approaches all-time highs.
Despite its big plans, American Bitcoin has a long way to go. The company’s 1,941 BTC is tiny compared to Strategy or even regional players like Metaplanet.
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