American Bitcoin, a bitcoin mining firm backed by Donald Trump Jr. and Eric Trump, is preparing to go public on the Nasdaq in early September through a unique all-stock merger, Reuters reported on August 28.
The company will merge with Gryphon Digital Mining, according to Asher Genoot, CEO of Hut 8 — the Miami-based firm that holds an 80% stake in American Bitcoin. The resulting entity will retain the name “American Bitcoin” and trade under the ticker ABTC.
Instead of going the conventional IPO route, the team opted for a merger structure that unlocks faster access to capital.
Anchor investors include the Gemini crypto exchange’s co-founders Tyler and Cameron Winklevoss.
Launched in March 2025, the firm has ambitious goals. It aims to be “the world’s largest, most efficient pure-play bitcoin miner,” according to a mission statement. It plans to both mine and buy bitcoin depending on market conditions. “We ebb and flow between which one is the best return at different times,” Genoot explained.
The move comes amid renewed pro-crypto momentum in Washington under President Trump’s second term.
Reuters also noted that American Bitcoin is actively exploring acquisitions in Asia, particularly Hong Kong and Japan, to broaden its international reach.
On Aug. 27, Benchmark, the investment banking firm reaffirmed its "buy" rating on the Bitcoin mining operation Hut 8 (NASDAQ: HUT) and increased its price target to $36 from $33.
https://finance.yahoo.com/news/trump-sons-backed-american-bitcoin-160442211.html
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