American Bitcoin Corp. (NASDAQ:ABTC) co-founder Eric Trump celebrated on Tuesday after the company surpassed 8,000 Bitcoin (CRYPTO: BTC) in its corporate treasury holdings.
‘Onwards We Go’
Trump shared this in an X post, adding that the firm achieved a 52% mining profit margin in the first quarter and maintained “one of the lowest” Selling, General, and Administrative ratios—a measure of a company’s overhead costs relative to its total revenue—in the industry.
“The stacking continues,” Trump said. “Huge congrats to the incredible ABTC team! Onwards we go!”
American Bitcoin currently holds 8,000 BTC, worth approximately $504 million. This positions the company as the 16th-largest corporate Bitcoin holder, surpassing firms including Galaxy Digital Inc. (NASDAQ:GLXY) and Gemini Space Station Inc. (NASDAQ:GEMI), according to bitcointreasuries.net.
