American Bitcoin Corp. shares (ABTC) rose about 9% on Thursday after BTIG initiated coverage of the Bitcoin miner and treasury company co-founded by Eric Trump with a $15 price target, adding new Wall Street coverage to a stock that has traded sharply lower this year.
ABTC was up 9.09% at $8.88 at 2:57 p.m. UTC, according to market data from Google Finance. The stock closed at $8.14 on Wednesday, when it gained 1.88%.
BTIG analyst Gregory Lewis initiated coverage on Sept. 16 with a Buy rating and a $15 target. The target is about 84% above Wednesday’s close. It is an analyst estimate, not a forecast of where the shares will trade.
BTIG starts coverage with $15 target
BTIG’s initiation adds to a small group of firms covering American Bitcoin.
Matthew Galinko of Maxim Group also has a $15 target, according to analyst-tracking data by Google Finance. Other databases show additional historical coverage with different targets, so the $15 figure should not be treated as a universal Wall Street consensus.
Lewis’ report focuses on American Bitcoin’s combination of Bitcoin mining and accumulation. BTIG reportedly highlighted a mining capacity of about 28 exahashes per second and roughly 8,000 Bitcoin held by the company.
American Bitcoin reported holding about 8,002 Bitcoin as of June 30, up from roughly 7,021 three months earlier. The company also said it mined about 932 Bitcoin during the second quarter.
Bitcoin holdings remain central to ABTC
American Bitcoin’s business combines mining with the accumulation of Bitcoin on its balance sheet.
The company was created after Hut 8 contributed all of its ASIC mining fleet to a new venture led by Eric Trump and Donald Trump Jr. American Bitcoin is now a majority-owned subsidiary of Hut 8, according to the company’s website. Eric Trump serves as co-founder and chief strategy officer.
The Trump family connection has remained part of the company’s identity since its formation, although the company’s operating business is focused on Bitcoin mining and accumulation.
American Bitcoin began trading on Nasdaq under the ABTC ticker in September 2025 following its merger with Gryphon Digital Mining.
Shares have remained volatile
The BTIG initiation comes after a sharp decline in ABTC during 2026. The stock closed at $8.14 on September 16, compared with a 52-week high above $120, according to market data. It has also traded as low as $4.92 during the period.
The recent move has come against a weaker backdrop for Bitcoin-related equities. According to data from CoinGecko (on September 17 at 2:57 p.m. UTC), Bitcoin traded around $76,000 on Thursday after falling earlier in the week amid the Senate’s failure to advance the CLARITY Act and renewed expectations for tighter U.S. monetary policy.
That makes ABTC’s Thursday gain notable as an individual stock move rather than evidence of a broad recovery across crypto-linked equities.
$15 target follows larger Bitcoin reserve
American Bitcoin’s Bitcoin holdings have expanded rapidly since the beginning of the year.
The company said its holdings increased by about 981 Bitcoin, or 14%, during the second quarter. Its Bitcoin production of 932 BTC was its highest quarterly output at the time, according to its June-quarter results.
The company has positioned its mining operation and Bitcoin accumulation strategy as complementary parts of its business. For investors, that structure leaves the stock exposed to both changes in Bitcoin’s market value and the economics of operating a mining business.
BTIG’s $15 target therefore comes as American Bitcoin builds out both sides of that model, while its shares continue to trade well below their 2025 highs.
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