Justin Mateen buys nearly $2M of American Bitcoin stock

Justin Mateen, best known for co-founding Tinder, just put nearly $2 million where his mouth is. The independent director of American Bitcoin Corp picked up 1.8 million shares of ABTC’s Class A common stock on March 3, 2026, paying an average of about $1.03 per share for a total outlay of roughly $1.85 million.

The timing is what makes this interesting. American Bitcoin had just reported a Q4 2025 loss of $59 million, driven largely by bitcoin price swings.

Inside the insider buy

Mateen wasn’t the only director reaching for the checkbook. Fellow board member Richard Busch also made investments around the same period.

In addition to his open-market purchase, Mateen received a grant of 46,404 restricted stock units on July 29, 2026. Those RSUs are set to vest at the 2027 annual meeting, further tying his financial interests to the company’s performance over the next year.

American Bitcoin’s unusual playbook

American Bitcoin went public in September 2025 through a merger with Gryphon Digital Mining. It operates as a majority-owned subsidiary of Hut 8, one of the larger publicly traded Bitcoin mining companies in North America.

The company runs a dual-track strategy that sets it apart from pure-play miners. It combines traditional self-mining operations with direct Bitcoin purchases for its corporate treasury.

By early August 2026, American Bitcoin had amassed more than 8,000 BTC in its treasury.

The $59 million Q4 loss, while eye-catching, is partly a function of accounting mechanics. Companies holding Bitcoin on their balance sheets are exposed to mark-to-market volatility, meaning paper losses can balloon during price downturns even if no coins are actually sold.

The Trump connection

American Bitcoin carries a notable political dimension. Eric Trump serves as co-founder and chief strategy officer, while Donald Trump Jr. holds a stockholder position. Together, the Trump brothers own approximately 20% of the company.

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