- American Bitcoin, partly owned by Donald Trump Jr. and Eric Trump, is going public on Nasdaq in September after merging with Gryphon Digital Mining.
- Hut 8 holds an 80% stake, giving it significant influence, while the Trump brothers’ 20% ownership brings high-profile visibility to the company.
The cryptocurrency mining industry is about to see another high-profile entrant on Wall Street. American Bitcoin, a mining company partly owned by Donald Trump Jr. and Eric Trump, is preparing to go public on the Nasdaq in September following a merger with Gryphon Digital Mining.
The company, 80% controlled by Toronto-based Hut 8, has been building both its mining infrastructure and Bitcoin reserves, setting the stage for a strong market entry under the ticker ABTC. Investor anticipation has already sent Gryphon’s shares soaring by over 230% since May.
American Bitcoin’s Nasdaq Entry Marks a New Chapter for Bitcoin Mining Firms
The merger with Gryphon Digital Mining paves the way for American Bitcoin’s listing, with trading expected to begin in early September. Ownership will remain concentrated, with Hut 8 controlling 80% and the Trump brothers collectively holding 20%, a structure that places both financial muscle and political prominence behind the venture.
According to Hut 8 CEO Asher Genoot, the merger represents a push toward industry consolidation, with ambitions to build “the world’s largest, most efficient pure-play Bitcoin miner.” Beyond expanding mining capacity, American Bitcoin is focused on long-term accumulation of Bitcoin reserves, positioning itself as both a producer and strategic holder of the asset. The company has hinted at possible acquisitions in Asia as part of its global expansion plans.
Investor Optimism Rises But Financial Hurdles Remain for Gryphon
While investor excitement has lifted Gryphon’s stock to $1.75, financial concerns remain. The firm has faced challenges such as declining cash flow and negative profit margins. To address growth and operational strain, Gryphon has filed a $5 billion hybrid securities application ahead of the merger. Support from Hut 8’s resources and the Trump family’s influence could help stabilize operations and strengthen market positioning.
The new entity will carry the American Bitcoin name, and if successful, it could quickly become one of the most influential players in the Bitcoin mining industry. However, the true test will be whether it can balance investor hype with the operational efficiency required in an increasingly competitive sector.
American Bitcoin’s debut comes at a time when governments and institutions are reassessing their stance on Bitcoin reserves. In Japan, there is an ongoing debate over the possibility of the country diversifying its national reserves by holding Bitcoin alongside traditional assets like U.S Treasury bonds or gold. According to advocates, this move could offer protection against devaluation of currency and bolster Japan’s financial independence.
Meanwhile, Bitcoin was trading at $110,448 at the press time. It is down by 2.46% in the last 24 hours.
