BTIG initiated coverage of American Bitcoin Corp. (NASDAQ: ABTC) on September 16, 2026, issuing a Buy rating with a price target of $15. This target suggests an upside of approximately 88% from the recent closing price of near $8.
American Bitcoin Corp. was established in March 2025 as a subsidiary of Hut 8 and began trading on the Nasdaq in September 2025. The firm, co-founded by Eric Trump, operates under its current name following a rebrand from Gryphon Digital Mining.
The company currently holds approximately 8,002 BTC in its treasury, ranking it among the top 15 public Bitcoin holders in the US. Its mining operations utilize a hash rate of roughly 28 EH/s, which represents about 3% of the global Bitcoin hash rate.
During the second quarter of 2026, the company mined 932 BTC, marking a 14% increase compared to the previous quarter. Despite this production growth, the company's stock has declined by approximately 69% year-to-date.
