Eric Trump says American Bitcoin is mining 11 to 13 bitcoin a day at roughly 49% gross margins, running nearly 90,000 machines. The company's quarterly filings largely back him up, according to the numbers filed with regulators. That puts the operation, which listed on Nasdaq under ABTC last September, in a strong position — though a dispute over production costs lingers.
The numbers behind the claim
American Bitcoin's second-quarter report shows a record 932 BTC mined, its highest quarterly output yet. Gross margins landed near 49%, matching the figure Eric Trump has cited. The company's treasury has grown to about 8,300 BTC as of late August, up from roughly 5,401 BTC at the end of 2025.
Hut 8 Corp, which backed the venture, remains the majority owner. The company was founded in 2025 by Eric Trump and Donald Trump Jr., then merged with Gryphon Digital Mining to go public. The filings don't break out daily production, but the quarterly numbers line up with the 11-13 BTC daily range.
The $90,000 question
Not everyone buys the cost story. Forbes alleged American Bitcoin's all-in production cost is closer to $90,000 per coin, while Eric Trump has repeatedly cited a figure of roughly $57,000. He rejected the Forbes report as politically motivated.
Neither side has published a fully reconciled cost breakdown since. That gap matters because the company's whole pitch — that mining bitcoin is cheaper than buying it outright — depends on which number is right. At $57,000, the margin is fat. At $90,000, it's a different business.
Treasury and the no-sale policy
American Bitcoin markets a no-sale treasury policy, meaning it holds what it mines. The treasury has grown steadily, and the company frames that as a bet on bitcoin's long-term value. But the policy only makes sense if the cost of production is genuinely below the market price.
With the disputed cost figure unresolved, the no-sale strategy rests on an assumption that hasn't been independently verified. The company's own filings support the production and margin numbers Eric Trump cites, but they don't settle the all-in cost question.
Until both sides publish a fully reconciled breakdown, the core claim behind the no-sale policy remains an open question.
