Internet reports that the American Bitcoin Corporation (ABTC), backed by the Trump family, has recently accelerated its acquisition of Bitcoin, purchasing an additional 1,726 BTC at a weighted average price of approximately US$119,120 per piece from July 1 to August 6, with a total value of US$205.6 million. ABTC is a controlling subsidiary of Hut8 Corp., and the acquisition increases its strategic bitcoin reserves to approximately 2,130 BTC, worth approximately US$254 million at current market prices. The acquisition comes after ABTC completed a $220 million private equity financing at the end of June. The company plans to go public through a merger with Gryphon Digital Mining, a deal that has been approved by the U.S. Securities and Exchange Commission and a shareholder vote is expected later this month.