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American Bitcoin, a Bitcoin mining firm co-founded by Eric Trump and Donald Trump Jr., will trade on the NASDAQ in early September after completing a merger with Gryphon Digital Mining. The deal, structured as an all-stock transaction, will give the company access to broader financing options and institutional support.
Asher Genoot, CEO of Hut 8, who owns 80% of American Bitcoin, confirmed that the merger process is nearly complete and that anchor investors have already been secured. Among those backing the firm are participants from both cryptocurrency-focused and traditional financial sectors. The new entity will retain the name “American Bitcoin” and trade under the ticker symbol ABTC.
According to Genoot, choosing a merger instead of a direct public offering provides stronger access to financing channels, since it leverages an existing company with established capital market connections. This strategy aligns with the approach taken by other large US-listed Bitcoin firms, which frequently use mergers and equity financing to accelerate growth.
After the merger, the company will continue to concentrate control with its founding stakeholders. Eric Trump, Donald Trump Jr., and Hut 8 will collectively own 98% of American Bitcoin. Hut 8, which transitioned from pure cryptocurrency mining to a broader focus on energy infrastructure and data centers, co-founded the firm earlier this year in partnership with the Trump brothers.
The company’s leadership has emphasized that American Bitcoin will combine cryptocurrency mining with strategic acquisitions of Bitcoin assets. This model was developed to enable the firm to switch between mining activities and first-hand buying of Bitcoins based on market conditions, making it more flexible in its treasury management policy.
Genoot reported that Eric Trump is actively participating in the company's strategy, including mining operations, development of new sites, and treasury planning. However, he stressed that the business remains independent from government affairs, despite ongoing criticism regarding potential conflicts of interest given former President Donald Trump’s support for cryptocurrency-friendly policies.
Beyond its US Operations, American Bitcoin is seeking opportunities in Asia to increase its global presence. It's an international footprint. Earlier reports from the Financial Times indicated that the company is considering acquiring cryptocurrency assets in Hong Kong and Japan. Genoot confirmed that discussions are underway but added that no specific deals have been finalized.
The expansion strategy also seeks to address limitations faced by some international investors. In several jurisdictions, investors are restricted from directly purchasing NASDAQ-listed stocks.
By acquiring or partnering with firms abroad, American Bitcoin aims to give those investors alternative access to Bitcoin-related assets through publicly listed entities outside the United States.
Moreover, Hut 8 will help the company expand the business by leasing out data centers to American Bitcoin so that there is the infrastructure required to conduct mining operations and acquisitions.
The company also gained the support of famous supporters like Gemini co-founders Tyler and Cameron Winklevoss, which improved its investor base as the company was ready to compete with other major world miners of Bitcoin.
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