American Bitcoin Director Justin Mateen Buys $1.93M in ABTC Stock After Q2 Earnings

American Bitcoin (NASDAQ: ABTC) director Justin Mateen purchased approximately $1.93 million worth of the Bitcoin mining company’s shares across two consecutive trading sessions, according to regulatory filings. The insider buying came shortly after American Bitcoin released its second-quarter 2026 financial results.

Mateen acquired about 145,000 Class A shares on Aug. 5 for approximately $925,000, paying an average price of $6.40 per share. He returned to the market on Aug. 6, purchasing roughly 162,000 additional shares for around $1 million at an average price of $6.19.

Together, the transactions totaled 306,981 ABTC shares valued at approximately $1.93 million. Following the purchases, Mateen beneficially owns 492,297 shares of American Bitcoin Class A common stock, with the figures reflecting adjustments related to the company’s recent reverse stock split.

Mateen, best known as a co-founder of dating app Tinder, has served on American Bitcoin’s board since March 2025.

Miami-based American Bitcoin is a Nasdaq-listed Bitcoin mining and accumulation company backed by members of U.S. President Donald Trump’s family, including Eric Trump and Donald Trump Jr. Its strategy combines large-scale Bitcoin mining with direct BTC purchases for its corporate treasury, making insider transactions potentially noteworthy to investors following the company’s Bitcoin-focused growth plans.

The purchases followed American Bitcoin’s latest earnings report, which showed a net loss of approximately $57 million for the second quarter of 2026. Despite the loss, the company increased its Bitcoin mining production and expanded its cryptocurrency holdings.

American Bitcoin mined approximately 932 BTC during the quarter, marking its highest quarterly Bitcoin production to date. Its treasury also surpassed 8,000 BTC as the company continued pursuing its “mine-and-hold” strategy.

The company has also undergone a recent management change. Matt Prusak, American Bitcoin’s former president and interim chief financial officer, departed to join Bitcoin mining infrastructure company Giga Energy, according to CoinDesk.