Finance Justin Mateen, a director at American Bitcoin, has made a significant investment in the company by acquiring nearly $1.93 million worth of ABTC shares over two days.

Mateen's recent stock purchases boost his holdings to over 492,000 shares.

By Will Canny, AI Boost|Edited by Cheyenne Ligon 1 hr ago 2 min read

Summary:

  • Justin Mateen bought a total of 306,981 shares on August 5-6 for approximately $1.93 million.
  • This acquisition followed the company's announcement of its second-quarter results, which showcased growth in bitcoin mining and treasury.
  • Post-purchase, Mateen owns 492,297 Class A shares after accounting for a recent reverse stock split.

Justin Mateen, who serves on the board of American Bitcoin (ABTC) and is associated with the Trump family, recently invested about $1.93 million in the mining company's stock during two consecutive trading days. This purchase was made shortly after the release of the company’s latest earnings report.

Regulatory documents reveal that on August 5, Mateen acquired around 145,000 Class A shares for about $925,000 at an average price of $6.40 each. The following day, he bought around 162,000 shares for roughly $1 million at an average price of $6.19.

Overall, he purchased 306,981 shares totaling approximately $1.93 million.

As a result of these transactions, Mateen now beneficially owns 492,297 shares of American Bitcoin's Class A common stock, adjusted for the company's recent reverse stock split.

Mateen, who co-founded Tinder, has been a board member of ABTC since March 2025.

American Bitcoin, which has backing from Eric Trump and Donald Trump Jr., is publicly traded on Nasdaq and focuses on bitcoin mining and accumulation. The firm aims to increase exposure to bitcoin through large-scale mining and treasury purchases, making insider trades particularly interesting for investors.

This week, the Miami-based company reported a net loss of approximately $57 million for the second quarter, despite ramping up its bitcoin production and holdings. It mined about 932 bitcoins in the quarter, marking its highest production to date, and increased its treasury to over 8,000 BTC while adhering to its mine-and-hold strategy.

Additionally, Matt Prusak, the former president and interim CFO of American Bitcoin, has left the company to join Giga Energy, as reported earlier this week.

Read more: Trump-linked American Bitcoin president Matt Prusak departs for Giga Energy