BlockBeats News, August 8th - Justin Mateen, a director of the Trump family-backed Bitcoin mining firm American Bitcoin (ABTC) and co-founder of Tinder, bought the company's stock for two consecutive days after the quarterly earnings report, with a total investment of approximately $1.93 million.

Regulatory filings show that on August 5th, Mateen bought about 145,000 shares of ABTC Class A common stock for approximately $925,000, with an average purchase price of about $6.40 per share. On August 6th, he made another purchase of about 162,000 shares for about $1 million, at an average price of around $6.19 per share.

The two transactions totaled 306,981 shares purchased, increasing Mateen's ABTC holdings to 492,297 shares.

American Bitcoin, supported by members of the Trump family including Eric Trump and Donald Trump Jr., is a Nasdaq-listed Bitcoin mining and BTC reserve company. The company follows a strategy of "large-scale mining + corporate treasury holding Bitcoin" to provide investors with Bitcoin exposure.

The financial report shows that American Bitcoin incurred a net loss of approximately $57 million in the second quarter, but mining scale and Bitcoin reserves continued to grow during the same period. The company mined about 932 BTC in the quarter, reaching a historical high, and the treasury's Bitcoin holdings increased to over 8,000 coins.

Market observers believe that the significant share purchases by board members are seen as a vote of confidence in the company's Bitcoin accumulation strategy, but the company's profitability and mining operational efficiency remain key concerns for investors.