Key Highlights
- American Bitcoin is set to go public through a merger with Gryphon Digital Mining.
- Hut 8, Eric Trump, and Donald Trump Jr. collectively hold 98% of the shares.
- The company aspires to be the “largest Bitcoin miner in the world.”
American Bitcoin Set for Nasdaq Listing with Trump Brothers Involved
American Bitcoin is gearing up for a Nasdaq public listing potentially in September, as reported by Reuters. This initiative is being facilitated through a merger with Gryphon Digital Mining, now reportedly in its final stages according to Hut 8 CEO Asher Genuth.
Rather than a traditional IPO, the company is opting for a merger for quicker access to capital markets. Genuth stated that partnering with an established entity provides better financing options than going public alone.
Established with Notable Supporters
Founded in March 2025, the company emerged from a collaboration between Bitcoin miner Hut 8 and Eric Trump and Donald Trump Jr., the sons of the U.S. President.
The firm will retain its name, American Bitcoin, and will trade under the ticker ABTC. Control will remain concentrated, with Hut 8, Eric Trump, and Donald Trump Jr. holding 98% of the company’s shares.
Prominent backers include the Winklevoss twins, Tyler and Cameron, founders of the Gemini exchange, who have supported the project since its inception.
Aiming to Lead Bitcoin Mining
American Bitcoin announced its merger plans with Gryphon in May. The company aims to become the “largest and most efficient pure Bitcoin miner.”
Their strategy involves both mining Bitcoin and acquiring it on the market, depending on profitability. “We don’t adhere to a single strategy,” Genuth remarked. “Sometimes mining is more profitable; other times buying is the better choice — we adapt for optimal returns.”
Despite concerns from Donald Trump regarding potential conflicts of interest, the company asserts no links to government bodies. Eric Trump reportedly focuses on strategy, mining operations, new facility development, and treasury policies.
With notable investors, political connections, and ambitions to dominate Bitcoin mining, American Bitcoin’s upcoming Nasdaq listing is anticipated to be a key headline in the crypto sphere in 2025.
