Quick Breakdown:
- American Bitcoin, backed by ., to debut on Nasdaq under ticker ABTC in September after merger with Gryphon Digital Mining.
- Company secures institutional investors; Trump brothers and Hut 8 will control 98% of the entity.
- Expansion plans include potential acquisitions in Hong Kong and Japan to widen access to bitcoin-linked assets.
American Bitcoin, a mining firm co-founded by Eric Trump and Donald Trump Jr., is preparing to list on the Nasdaq in early September following its merger with Gryphon Digital Mining. The all-stock deal, backed by crypto-focused and traditional institutional investors, positions the company to trade under the ticker ABTC, according to a Reuters report.
According to Asher Genoot, CEO of Hut 8, which owns 80% of American Bitcoin, anchor shareholders have already been secured to support the listing. Post-merger, American Bitcoin will retain its name, with the Trump brothers and Hut 8 collectively holding 98% of the company.
Merger Route Strengthens Financing Access
Rather than pursuing a direct listing, the company opted for a merger, a decision Genoot said ensures stronger access to financing and leverages Gryphon’s existing connections to capital markets. The structure, he noted, provides flexibility for future expansion and allows the firm to scale its footprint within regulated environments.
This approach comes amid increasing competition in the Bitcoin mining industry, where firms are under pressure to expand capacity while managing rising energy costs. By securing institutional backers ahead of its market debut, American Bitcoin is positioning itself as a high-profile player at the intersection of politics, capital markets, and digital assets.
Expansion Plans in Asia
Alongside its Nasdaq debut, American Bitcoin is exploring acquisitions in Hong Kong and Japan to broaden investor access to bitcoin-linked assets outside the United States. While no deals have been finalized, Genoot confirmed ongoing discussions aimed at creating pathways for investors restricted from directly accessing Nasdaq-listed crypto companies.
The company’s long-term strategy, he added, is to develop a regulated vehicle that serves both institutional investors and retail traders, offering exposure to Bitcoin through mainstream exchanges.
The Trump family’s involvement in cryptocurrency stems partly from what Eric Trump described as being “debanked” after the January 6, 2021 Capitol riot. In an interview with The Wall Street Journal, he said several major banks abruptly shut down hundreds of accounts linked to the Trump Organization without explanation.
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