American Bitcoin, a BTC-USD mining company backed by Donald Trump’s sons, Eric and Donald Trump Jr, today announced its plans to go public on the Nasdaq in early September 2025. The venture, formed through a merger with Gryphon Digital Mining, aims to become a leading player in the cryptocurrency mining sector.
This foray is yet another step by the Trumps in deepening their involvement in the crypto industry, drawing both attention and scrutiny.
This comes merely days after prediction markets platform Polymarket announced on Tuesday that it has secured an investment from Donald Trump Jr’s venture capital firm 1789 Capital and Trump Jr, joining its advisory board.
With a strategic focus on global expansion and a high-profile listing, American Bitcoin is positioned to capitalise on the growing institutional interest in digital assets.
The company’s path to the Nasdaq involves an all-stock merger with Gryphon Digital Mining (GRYP.O), expected to be finalised in the coming days. The new firm will retain the name American Bitcoin and trade under the ticker symbol ABTC.
Asher Genoot, CEO of Hut 8, which holds an 80% stake in American Bitcoin, emphasised the strategic advantage of merging with an existing public company.
“Instead of going public directly via IPO, we thought there were a lot more advantages to financing if we had an existing company that already had access to different financing tools,” Genoot said.
This approach enables the company to leverage Gryphon’s existing market infrastructure for faster capital access.
The merger has secured backing from both crypto and traditional investors. Notable anchor shareholders include Cameron and Tyler Winklevoss, co-founders of the Gemini crypto exchange.
Upon listing, Hut 8, Eric Trump, and Donald Trump Jr will collectively own 98% of American Bitcoin, with Eric Trump serving as the chief strategy officer. However, the concentrated ownership has raised questions about governance, but the company insists its focus is on operational efficiency and growth.
The Trump family adds American Bitcoin to their growing crypto portfolio
The Trump family’s appetite for cryptocurrencies is not new. American Bitcoin, launched in March 2025, is the latest in a series of crypto-related investments tied to America’s first family.
Earlier this year, the Trumps were involved in World Liberty Financial, a crypto platform where Donald Trump serves as the “chief crypto advocate” and his sons, including Barron, act as ambassadors. Company filings reveal Donald Trump is entitled to 22.5 billion WLF tokens and a share of its revenue, highlighting the family’s significant financial stake in the sector.
In January 2025, the Trump family launched meme coins, $Trump and $Melania, further diversifying their crypto portfolio. This followed their participation in a $1.5 billion offering by ALT5, celebrated with a Nasdaq bell-ringing ceremony attended by Eric and Donald Trump Jr.
The family’s crypto ventures align with Donald Trump’s public pledge to make the U.S. a global leader in digital assets.
He has positioned himself as the “crypto president”, signing landmark regulations to foster industry growth. However, critics, including government ethics experts, have raised concerns about potential conflicts of interest, given the family’s business interests and Trump’s political influence.
Meanwhile, American Bitcoin is not limiting its ambitions to the U.S. market. The company is actively exploring acquisitions in Asia, particularly in Hong Kong and Japan, to build a global Bitcoin treasury.
The Financial Times reported that American Bitcoin is seeking crypto assets in these regions to provide investors with access to publicly listed Bitcoin assets, especially for those restricted from purchasing Nasdaq-listed stocks.
Genoot noted, “Right now it’s very early. So we haven’t been committed to anything.” Eric Trump’s recent travels to Hong Kong and Tokyo, including an event for Metaplanet, a Japanese Bitcoin treasury firm, signal the company’s intent to expand its footprint in Asia.
The company aims to emulate the success of MicroStrategy (now Strategy), which holds over 628,946 BTC and has become a model for corporate Bitcoin accumulation.
Through acquisitions of publicly listed companies in Asia, American Bitcoin seeks to create legal vehicles for Bitcoin investment, bypassing the complexities of direct crypto ownership. This strategy could democratise access to Bitcoin for retail investors while leveraging the Trump family’s political and financial networks to navigate regulatory challenges.
Hut 8, the majority stakeholder in American Bitcoin, has shifted its focus from crypto mining to energy infrastructure and data centres.
Post-merger, Hut 8 will lease data centres to American Bitcoin, enabling the company to scale its mining operations efficiently. This pivot reflects broader industry trends, as miners seek sustainable energy solutions amid rising operational costs.
American Bitcoin has already secured $200 million in capital to expand its mining infrastructure and Bitcoin reserves, positioning it for rapid growth.
The crypto industry is experiencing a surge in institutional adoption, driven by favourable regulatory shifts and Bitcoin’s price rally, which hit a new all-time high of over $124,000 in July. The Trump administration’s push for crypto-friendly legislation has further fuelled interest.
The American Bitcoin debut on the Nasdaq listing is a watershed moment for the Trump family’s crypto ambitions. It is equally a bold vote of confidence in the sector that has grown from a mere niche to a global investment and finance disruptor.
