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American Bitcoin, a cryptocurrency mining venture backed by Eric and Donald Trump Jr., is poised to debut on the Nasdaq in early September 2025 under the ticker ABTC, following a merger with Gryphon Digital Mining. Launched in March 2025 with Hut 8, which holds an 80% stake, the company aims to become the world’s largest pure-play Bitcoin miner, leveraging 61,000 mining machines across 11 US data centers. The Trump brothers, holding a 20% stake, have merged their American Data Centers with Hut 8, with Eric Trump serving as chief strategy officer.
The merger, finalized with crypto and traditional investors like Gemini’s Winklevoss twins, who contributed to a $220 million raise, positions American Bitcoin to capitalize on Bitcoin’s 2025 surge, trading at $117,415.73. The firm plans to build a “Bitcoin reserve” through mining and purchasing, aiming for cost-efficient production amid favorable US energy costs. CEO Asher Genoot emphasized the merger’s financing advantages over a traditional IPO, with plans to expand into Asia, including Hong Kong and Japan.
The Trump family’s crypto pivot, despite Donald Trump’s 2021 skepticism, aligns with his administration’s pro-crypto policies, raising conflict-of-interest concerns dismissed by the White House. Critics highlight environmental concerns due to mining’s energy intensity, but Eric Trump argues US miners can outpace global competitors. The debut, announced on August 28, 2025, is expected to boost investor confidence and trading volume, potentially shaping US crypto trends. With 98% ownership concentrated between Hut 8 and the Trumps, American Bitcoin’s Nasdaq listing marks a significant step in mainstreaming cryptocurrency.
