A director of Trump family-backed American Bitcoin spent $1.93 million increasing his holdings in the company’s stock.

Justin Mateen, a director at American Bitcoin (ABTC) — a Bitcoin mining firm backed by the Trump family and co-founder of Tinder — purchased the company’s stock over two consecutive days after it released its quarterly earnings, investing a total of roughly $1.93 million. Regulatory filings show Mateen bought approximately 145,000 Class A common shares of ABTC on August 5 for about $925,000 at an average price of $6.40 per share; he added another ~162,000 shares on August 6, worth ~$1 million at an average of $6.19 per share. The two transactions totaled 306,981 shares, lifting Mateen’s total ABTC holdings to 492,297 shares. American Bitcoin, a Nasdaq-listed Bitcoin mining and BTC reserve company backed by U.S. President Donald Trump’s family members including Eric Trump and Donald Trump Jr., adopts a strategy of "large-scale mining + corporate treasury Bitcoin holdings" to provide investors with exposure to Bitcoin. Its Q2 earnings report showed a net loss of around $57 million, though its mining scale and Bitcoin reserves continued to grow in the same period. The firm’s quarterly BTC production hit a record high of roughly 932 coins, while its treasury holdings rose to over 8,000 BTC. Market observers view the director’s large share purchases as a sign of confidence in the company’s Bitcoin accumulation strategy, though its profitability and mining operational efficiency remain key focuses for investors.