BTIG initiated coverage on American Bitcoin Corp (ABTC) with a 'Buy' rating and a $15.00 price target. Hut 8 Corp. remains American Bitcoin's largest shareholder, holding an approximately 54% equity stake. This follows a spin-off in the third quarter of 2025.
BTIG's positive outlook on American Bitcoin stems from its dual strategy of Bitcoin mining and open-market cryptocurrency purchases. Hut 8 has not sold any American Bitcoin shares since the spinoff, underscoring its continued investment. BTIG analysts predict American Bitcoin will become profitable this year.