American Bitcoin's president, tied to Trump, is leaving for Giga Energy

Matt Prusak is leaving his post as president and interim CFO of American Bitcoin (NASDAQ: ABTC) — the publicly traded miner co-owned by Eric Trump. As the company announced in naming Paul Sacks as his replacement on the finance side, the departure takes effect August 4.

Prusak notified the company of his decision on July 30. American Bitcoin stressed the departure is voluntary and doesn't stem from any disagreement over the company's financial statements, operations, or internal policies. Prusak himself is leaving for a role at Giga Energy — a Texas company that converts flared natural gas from oil wells into electricity for bitcoin mining — in his hometown of Austin.

• Paul Sacks, 53, becomes interim CFO effective August 4 — he co-founded Digital Gamma and previously worked at BlockFills, and will keep his current role as head of derivatives, which he's held since May
• American Bitcoin was founded in March 2025 and began trading on Nasdaq that September; on July 2, 2026, it carried out a one-for-15 reverse stock split
• The departure news landed alongside the company's second-quarter results: losses narrowed to $57.2 million from $81.8 million the prior quarter
• The company's bitcoin holdings grew to roughly 8,002 BTC, with a $18.3 million derivatives gain for the quarter

So far, only the CFO seat has a replacement lined up — the company hasn't said who, if anyone, will take over as president. The leadership change adds to a broader picture of turbulence around the Trump family's crypto holdings: we already covered how Trump Media denied selling bitcoin for the second time running and how Trump's own $1.4 billion in personal crypto income turned into a conflict-of-interest storm amid the Senate's Clarity Act debate.

For the company, a president change alongside improving quarterly numbers reads as more neutral than alarming — but who ends up in the vacated seat, and whether American Bitcoin eventually gets a permanent rather than interim CFO, should become clear in the coming months.

This piece is informational, not a recommendation to buy, sell, or hold any asset.