American Bitcoin board member Justin Mateen purchased 306,981 Class A shares across Aug. 5 and Aug. 6 for about $1.93 million. The insider buying followed the company’s second-quarter report, which showed a larger bitcoin treasury and rising mining output alongside a net loss.
American Bitcoin board member Justin Mateen purchased 306,981 Class A shares across Aug. 5 and Aug. 6 for about $1.93 million. The insider buying followed the company’s second-quarter report, which showed a larger bitcoin treasury and rising mining output alongside a net loss.
Justin Mateen, a director at American Bitcoin, bought 306,981 Class A shares of ABTC over two trading sessions on Aug. 5 and Aug. 6, according to regulatory filings cited by CoinDesk. The purchases were worth about $1.93 million in total and increased his beneficial ownership to 492,297 shares, adjusted for the company’s recent reverse stock split.
Justin Mateen, a director at American Bitcoin, bought 306,981 Class A shares of ABTC over two trading sessions on Aug. 5 and Aug. 6, according to regulatory filings cited by CoinDesk. The purchases were worth about $1.93 million in total and increased his beneficial ownership to 492,297 shares, adjusted for the company’s recent reverse stock split.
The transactions matter because insider buying at American Bitcoin is being watched by investors tracking the company’s bitcoin mining and accumulation strategy. American Bitcoin is backed by members of U.S. President Donald Trump’s family and has positioned itself as a publicly traded vehicle for gaining bitcoin exposure through mining operations and corporate treasury holdings.
Mateen bought roughly 145,000 shares on Aug. 5 for about $925,000 at an average price of $6.40 per share. He then purchased about 162,000 shares on Aug. 6 for around $1 million at an average price of $6.19 per share.
The buying came after American Bitcoin reported second-quarter results. The Miami-based company posted a net loss of about $57 million while increasing its mining output and bitcoin holdings.
American Bitcoin mined about 932 BTC during the quarter, its highest quarterly production to date, and expanded its treasury to more than 8,000 BTC as it continued its mine-and-hold approach. Mateen, a co-founder of Tinder, has served on American Bitcoin’s board since March 2025.
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