American Bitcoin, the cryptocurrency mining company backed by President Donald Trump's sons, has secured backing from crypto and traditional investors for a merger that will enable the firm to begin trading on the Nasdaq exchange in early September. The company's largest investor confirmed the timeline while announcing the completion of its investor lineup.
What to Know:
- American Bitcoin will merge with Gryphon Digital Mining to start trading on Nasdaq under ticker symbol ABTC in September
- Eric Trump, Donald Trump Jr., and Hut 8 will control 98% of the newly formed public entity
- The company plans to accumulate Bitcoin through both mining operations and direct purchases rather than focusing solely on one strategy
Merger Strategy Drives Public Market Entry
The unlisted firm's all-stock merger with Gryphon Digital Mining is nearing completion, according to Asher Genoot, CEO of Hut 8, which holds an 80% stake in American Bitcoin. Genoot revealed that anchor shareholders for the listing have been finalized, including investments from Gemini co-founders Tyler and Cameron Winklevoss.
"Instead of going public directly via IPO, we thought that there was a lot more advantages to financing if we had an existing company that already had access to different financing too," Genoot said during the Bitcoin Asia conference in Hong Kong.
The merged entity will retain the American Bitcoin name and trade under the stock symbol ABTC.
Eric Trump serves as co-founder alongside his involvement in strategy decisions. His brother Donald Trump Jr. also holds an ownership position in the venture. The three-way ownership structure between the Trump brothers and Hut 8 will control 98% of the public company once trading begins.
Genoot indicated that Eric Trump maintains an active role in the company's strategic direction, particularly regarding Bitcoin mining operations, site development decisions, and treasury management policies. The executive was present at the Hong Kong conference and planned to travel to Tokyo for a Metaplanet event, a Japanese Bitcoin treasury firm.
Global Expansion and Acquisition Strategy
American Bitcoin is exploring opportunities to acquire crypto assets in Hong Kong and Japan as part of its international expansion efforts. The Financial Times reported two weeks ago that the company was actively hunting for cryptocurrency investments in these markets to build its global presence.
Genoot suggested the company could acquire stakes in overseas firms to provide investors with access to publicly listed Bitcoin assets. Some international investors face restrictions when purchasing Nasdaq-listed securities. "Right now it's very early. So we haven't been committed to anything," he acknowledged.
The company launched in March 2025 through a partnership between Hut 8, Eric Trump, and Donald Trump Jr. American Bitcoin has stated its ambition to become "the world's largest, most efficient pure-play Bitcoin miner."
The timing coincides with accelerated crypto-related legislation under the Trump administration to support industry growth.
Unlike traditional mining operations or treasury-focused companies, American Bitcoin plans a flexible approach to cryptocurrency accumulation. "Instead of just a treasury strategy where companies raise money to buy Bitcoin or just a mining company... we ebb and flow between which one is the best return at different times," Genoot explained.
Miami-based Hut 8 previously operated as a crypto miner but shifted its focus toward energy infrastructure and data centers after launching American Bitcoin. The parent company will lease data center facilities to American Bitcoin as part of their ongoing relationship.
Understanding Key Crypto Terms
Bitcoin mining involves using specialized computers to verify transactions on the Bitcoin network and earn newly created coins as rewards. A pure-play Bitcoin miner focuses exclusively on Bitcoin rather than mining multiple cryptocurrencies. Treasury strategy refers to companies that purchase and hold Bitcoin as a reserve asset rather than mining it directly.
The Nasdaq exchange represents one of the world's major stock markets, where technology companies frequently list their shares. An all-stock merger means the transaction uses company shares rather than cash to complete the deal. Ticker symbols like ABTC serve as abbreviated identifiers for publicly traded companies.
Political Scrutiny and Business Independence
President Trump has faced criticism regarding potential conflicts of interest while promoting cryptocurrency industry policies as his family maintains business interests in the sector. The White House has dismissed these allegations. Genoot emphasized that American Bitcoin operates independently from government activities, with Eric Trump's involvement limited to strategic business decisions.
Separately at the same Hong Kong conference, Nakamoto Holdings announced plans to support early-stage crypto companies across Asia. The Bitcoin treasury company, led by crypto advocate David Bailey, is examining the region's startup ecosystem for investment opportunities.
"We're also going to be looking at other opportunities where we can incubate and do M&As," said Kevin Zhang, Nakamoto Holdings' head of Asia operations. The firm plans to contribute to crypto ecosystem growth through strategic partnerships and acquisitions.
Closing Thoughts
American Bitcoin's September trading debut represents a significant milestone for Trump family involvement in public cryptocurrency markets. The company's dual strategy of mining and direct Bitcoin purchases positions it differently from traditional operators while capitalizing on current regulatory momentum supporting the crypto industry.
