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      American Bitcoin Corp. Receives Buy Rating from BTIG with $15 Price Target

      BTIG has initiated coverage of American Bitcoin Corp. (NASDAQ: ABTC) with a Buy rating and a price target of $15, indicating a potential upside of approximately 88% from its recent trading price near $8. This comes as the company's stock has experienced a significant decline of about 69% year-to-date, raising questions about market sentiment towards the firm.

      American Bitcoin Corp., co-founded by Eric Trump, holds around 8,002 Bitcoin (BTC) in its treasury, ranking it among the top 15 publicly traded Bitcoin holders in the United States. The company operates with a hash rate of roughly 28 EH/s, contributing to about 3% of the global Bitcoin hash rate. In the second quarter of 2026, the firm reported its strongest production performance to date, mining 932 BTC, which marked a 14% increase compared to the previous quarter.

      Established in March 2025 as a subsidiary of Hut 8, a Canadian mining firm, American Bitcoin Corp. went public on the Nasdaq in September 2025. The company focuses on mining Bitcoin and retaining most of its production, offering investors exposure to Bitcoin's price movements without the need for direct custody of the asset. Despite the bullish outlook from BTIG, the company's stock performance in 2026 has been challenging, highlighting the volatility often associated with mining stocks.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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