Eric Trump, co-founder and Chief Strategy Officer of American Bitcoin Corp. (NASDAQ: ABTC), provided a virtual tour of the company's Bitcoin mining facility in Texas on Monday, showcasing approximately 35,000 liquid-cooled servers and claiming the operation mines roughly 2% of the world's daily Bitcoin supply.
In a video posted to social media platform X, Trump emphasized the facility's use of "American energy" on "American soil" to mine cryptocurrency, countering what he called misconceptions about Bitcoin's intangible nature. The younger son of U.S. President Donald Trump framed the facility as "living proof" of Bitcoin's physical infrastructure and tangible backing.
"This is a small preview of our facility in Texas, which uses American energy to mine Bitcoin right here on American soil," Trump stated in the video. "Every single day we mine about 2% of the world's bitcoin supply. We safeguard it every single day."
Clarifying the 2% Supply Claim
Trump's statement about mining 2% of "the world's Bitcoin supply" generated confusion among cryptocurrency observers, though context suggests he likely meant 2% of newly mined Bitcoin each day rather than 2% of Bitcoin's total existing supply of approximately 19.8 million coins. With roughly 450 Bitcoin mined globally per day following the April 2024 halving, American Bitcoin would be producing approximately 9 BTC daily under this interpretation - figures that align more closely with the company's disclosed operational metrics.
The distinction matters significantly: mining 2% of Bitcoin's total circulating supply daily would require producing approximately 396,000 BTC annually, an impossibility given Bitcoin's fixed issuance schedule limits new supply to roughly 164,000 BTC per year currently.
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Rapid Treasury Accumulation Since April Launch
American Bitcoin has demonstrated aggressive accumulation since its April 2025 launch and subsequent Nasdaq debut under ticker ABTC following a merger with Gryphon Digital Mining. The company held 4,004 BTC as of November 5, according to corporate disclosures, with approximately 2,385 BTC pledged or collateralized under an equipment financing agreement with Bitmain.
Third-quarter financial results released November 14 showed revenue surged to $64.2 million from $11.6 million year-earlier, while the company swung to net income of $3.5 million from a $576,000 loss. American Bitcoin added more than 3,000 BTC to its treasury during Q3 through a combination of self-mining operations and strategic at-market purchases.
The company scaled Bitcoin mining capacity approximately 2.5 times quarter-over-quarter to reach roughly 25 exahash per second (EH/s), with fleet efficiency averaging 16.3 joules per terahash. Gross margin expanded to 56% from 49% sequentially, reflecting what executives describe as an "asset-light" mining model leveraging infrastructure partnerships.
West Texas Energy Powers Operations
American Bitcoin operates mining facilities in multiple locations including Niagara Falls, New York; Medicine Hat, Alberta; and Orla, Texas, according to SEC filings. The Texas operation showcased in Trump's tour reportedly utilizes renewable energy sources including solar power to minimize environmental impact - a strategic positioning addressing persistent criticism of Bitcoin mining's carbon footprint.
Trump emphasized the operation's cost advantages, claiming the company mines Bitcoin at approximately 50% below spot market prices - around $56,000 per BTC at current valuations - thanks to long-term energy agreements and access to cheap renewable power in West Texas. This cost structure allows American Bitcoin to accumulate holdings more efficiently than purchasing Bitcoin directly at market prices.
Hut 8 Partnership Provides Infrastructure
American Bitcoin operates as a majority-owned subsidiary of energy infrastructure platform Hut 8 Corp., with the Trump brothers owning approximately 20% of the public entity. Under this arrangement, American Bitcoin pays Hut 8 for energy, operations, and shared services including accounting, HR, payroll, IT support, and legal services.
The partnership structure allows American Bitcoin to scale rapidly without significant capital expenditures on physical infrastructure, focusing instead on equipment acquisition and Bitcoin accumulation. The company purchased 16,299 mining machines from Bitmain under a financing arrangement requiring $314 million worth of Bitcoin delivered over two years - terms that analysts noted were favorable but not unprecedented in the current mining market.
Final thoughts
The close alignment between the Trump family's cryptocurrency ventures and the administration's pro-crypto policies has prompted ethics concerns about potential conflicts of interest. Beyond American Bitcoin, the Trump family's digital asset portfolio includes the $TRUMP meme coin, World Liberty Financial, and Trump Media's Bitcoin treasury strategy.
Eric Trump disputed conflict allegations, noting the family began developing crypto businesses before the November 2024 election victory. "This is something that our family believes," he told media outlets. "It's something our family speaks about with our heart and soul."
President Trump repeatedly promised during campaigning to support U.S.-based Bitcoin miners, telling executives at a Mar-a-Lago event that all future Bitcoin should be "minted on American soil." The administration has since issued executive orders loosening environmental restrictions and encouraging fossil fuel development - policies beneficial to energy-intensive mining operations, though critics warn of climate consequences.
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