American Bitcoin, a bitcoin mining firm co-founded by Eric Trump, is preparing to go public through a merger with Gryphon Digital Mining, a publicly listed company.
The all-stock transaction, expected to close as early as Q3 2025, will see American Bitcoin’s current shareholders hold around 98% of the newly combined entity.
Once completed, the company will be listed on the Nasdaq under the ticker symbol “ABTC.”
Hut 8, the energy infrastructure firm backing American Bitcoin, views the merger as a strategic step in expanding its bitcoin mining operations.
Hut 8 CEO Asher Genoot highlighted that the move is designed to unlock growth capital while maintaining exposure to bitcoin’s potential upside.
Genoot said,
“By taking American Bitcoin public, we expect to unlock direct access to dedicated growth capital independent of Hut 8’s balance sheet.”
The company will continue to rely on Hut 8 for infrastructure and operations as it seeks to build "America’s Bitcoin infrastructure backbone."
Eric Trump, son of US President Donald Trump, serves as the co-founder and chief strategy officer of American Bitcoin.
His involvement adds another layer of visibility to the Trump family's growing ties to the cryptocurrency world.
Eric Trump, the third child of the current U.S. President, holds the roles of co-founder and chief strategy officer at American Bitcoin.
Trump told CNBC,
“Every single sophisticated country is using their excess power to mine bitcoin. We won the space race. We better win the crypto race."
He has been vocal about the need for the United States to remain a leader in the global bitcoin mining sector, especially as other nations increase their bitcoin mining activities.
Trump describes Bitcoin as one of the most important asset classes of our time and sees American Bitcoin’s public debut as a pivotal step toward building a large-scale platform for long-term Bitcoin accumulation.
This move follows a series of crypto-related ventures from the Trump family, including the controversial $TRUMP meme coin and plans for a token tied to Trump Media's Truth ecosystem.
As American Bitcoin prepares to go public, it further solidifies the Trump family's influence in the cryptocurrency space.
Eric Trump, alongside his brother Donald Trump Jr., is also involved in the operation, which aims to make bitcoin more accessible to American investors.
Gryphon Digital Mining’s shares soared 285% following the announcement, with prices reaching $2.00.
The news also caused a spike in the stock price of Hut 8, which gained 10% on the same day.
These market movements underscore investor optimism surrounding the merger, which combines American Bitcoin’s large-scale mining ambitions with Gryphon’s established presence in the sector.
The newly formed company will focus on three core objectives: efficient bitcoin mining, leading the bitcoin ecosystem, and building a significant bitcoin reserve.
The firm plans to leverage its operational strength and brand recognition to simplify access to bitcoin for American investors.
In a statement on X (formerly Twitter), Eric Trump expressed pride in the project, calling it an exciting opportunity for growth.
“Very proud of this project and the incredibly talented group of friends that are involved!”
This merger signals the Trump family’s continued expansion into the cryptocurrency market and could potentially reshape the landscape of bitcoin mining in the US.
As more nations vie for dominance in the space, American Bitcoin aims to carve out a leadership role, driven by efficient mining practices and strategic access to capital.
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