American Bitcoin, backed by Trump Brothers, to list on Nasdaq in September after merger with Gryphon: Report
Post-merger, the Trump brothers and Canadian mining company Hut 8 will jointly hold nearly 98% of the firm, which has outlined plans to emerge as the largest bitcoin miner in the United States.
- Aug 28, 2025,
- Updated Aug 28, 2025 4:05 PM IST
American Bitcoin, a crypto mining firm backed by Eric Trump and Donald Trump Jr., is set to go public in early September through an all-stock merger with Gryphon Digital Mining. The combined entity will list on Nasdaq under the ticker symbol ABTC.
Post-merger, the Trump brothers and Canadian mining company Hut 8 will jointly hold nearly 98% of the firm, which has outlined plans to emerge as the largest bitcoin miner in the United States. The deal has gained attention not only for its scale but also for its backers. According to news agency Reuters, this concentrated ownership structure reflects long-term commitment by its key stakeholders.
Asher Genoot, CEO of Hut 8, confirmed to Reuters that anchor shareholders for the upcoming listing have already been finalised. Hut 8, which is the largest investor in American Bitcoin, will hold a significant stake alongside the Trump brothers. The newly merged company will retain the American Bitcoin brand, highlighting its ambition to dominate the domestic mining industry.
Instead of pursuing a traditional initial public offering, American Bitcoin opted for a merger, citing financing advantages. “We thought that there was a lot more benefit to financing if we had an existing company that already had access to different financing channels,” Genoot explained in an interview at the Crypto Asia conference in Hong Kong.
The CEO added that Eric Trump is currently in Hong Kong, with plans to travel to Tokyo to attend an event hosted by Metaplanet, a Japanese bitcoin treasury firm. This highlights the company’s interest in expanding into Asia, with ongoing talks around potential acquisitions.
Global expansion strategy
American Bitcoin is actively exploring opportunities to acquire crypto assets in Hong Kong and Japan, according to a report in the Financial Times. Such moves could provide global investors, particularly those unable to directly buy Nasdaq-listed stocks, with exposure to publicly listed bitcoin assets.
“Right now, it’s very early, so we haven’t committed to anything,” Genoot said, emphasising that international expansion remains under consideration.
Strategic shift for Hut 8
For Hut 8, the merger represents a broader transformation. Once solely a crypto miner, the Canadian company has recently repositioned itself as an energy infrastructure and data centre operator. Genoot noted that this strategic shift accelerated after the launch of American Bitcoin with the Trump brothers, underscoring the growing integration between energy management and crypto mining.
Crypto outlook under Trump administration
The merger also comes at a time when bitcoin has surged to record highs in 2025, buoyed by optimism around Donald Trump’s pro-crypto stance. Once a sceptic during his first presidential term, Trump reversed his position in the 2024 campaign, openly embracing the sector and relying heavily on donations from crypto executives in his successful run against former Vice President Kamala Harris. With strong political backing, heavyweight investors, and plans for global expansion, American Bitcoin is aiming to position itself as a dominant force in the fast-evolving crypto mining industry.
American Bitcoin, a crypto mining firm backed by Eric Trump and Donald Trump Jr., is set to go public in early September through an all-stock merger with Gryphon Digital Mining. The combined entity will list on Nasdaq under the ticker symbol ABTC.
Post-merger, the Trump brothers and Canadian mining company Hut 8 will jointly hold nearly 98% of the firm, which has outlined plans to emerge as the largest bitcoin miner in the United States. The deal has gained attention not only for its scale but also for its backers. According to news agency Reuters, this concentrated ownership structure reflects long-term commitment by its key stakeholders.
Asher Genoot, CEO of Hut 8, confirmed to Reuters that anchor shareholders for the upcoming listing have already been finalised. Hut 8, which is the largest investor in American Bitcoin, will hold a significant stake alongside the Trump brothers. The newly merged company will retain the American Bitcoin brand, highlighting its ambition to dominate the domestic mining industry.
Instead of pursuing a traditional initial public offering, American Bitcoin opted for a merger, citing financing advantages. “We thought that there was a lot more benefit to financing if we had an existing company that already had access to different financing channels,” Genoot explained in an interview at the Crypto Asia conference in Hong Kong.
The CEO added that Eric Trump is currently in Hong Kong, with plans to travel to Tokyo to attend an event hosted by Metaplanet, a Japanese bitcoin treasury firm. This highlights the company’s interest in expanding into Asia, with ongoing talks around potential acquisitions.
Global expansion strategy
American Bitcoin is actively exploring opportunities to acquire crypto assets in Hong Kong and Japan, according to a report in the Financial Times. Such moves could provide global investors, particularly those unable to directly buy Nasdaq-listed stocks, with exposure to publicly listed bitcoin assets.
“Right now, it’s very early, so we haven’t committed to anything,” Genoot said, emphasising that international expansion remains under consideration.
Strategic shift for Hut 8
For Hut 8, the merger represents a broader transformation. Once solely a crypto miner, the Canadian company has recently repositioned itself as an energy infrastructure and data centre operator. Genoot noted that this strategic shift accelerated after the launch of American Bitcoin with the Trump brothers, underscoring the growing integration between energy management and crypto mining.
Crypto outlook under Trump administration
The merger also comes at a time when bitcoin has surged to record highs in 2025, buoyed by optimism around Donald Trump’s pro-crypto stance. Once a sceptic during his first presidential term, Trump reversed his position in the 2024 campaign, openly embracing the sector and relying heavily on donations from crypto executives in his successful run against former Vice President Kamala Harris. With strong political backing, heavyweight investors, and plans for global expansion, American Bitcoin is aiming to position itself as a dominant force in the fast-evolving crypto mining industry.