You will soon be able to buy shares of a bitcoin mining venture backed by President Donald Trump’s sons, Eric Trump and Donald Trump Jr., following an all-stock merger between their company, American Bitcoin, and Gryphon Digital Mining.
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The news was announced on May 12 by Hut 8, an energy infrastructure platform that holds a majority stake in American Bitcoin.
“This transaction marks the next step in scaling American Bitcoin as a purpose-built vehicle for low-cost Bitcoin accumulation at scale,” HUT 8 CEO Asher Genoot said in a press release. “By taking American Bitcoin public, we expect to unlock direct access to dedicated growth capital independent of Hut 8’s balance sheet, while preserving long-term exposure to Bitcoin upside for our shareholders.”
When Will It Start Trading?
According to the Hut 8 press release, the combined company will operate as American Bitcoin and trade on the Nasdaq under the ticker symbol “ABTC.” The transaction is expected to close as early as the third quarter of 2025. The stock should go public soon thereafter.
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Leadership Team
American Bitcoin’s management team will be led by Eric Trump, Mike Ho and Matt Prusak. The board of directors will include Ho, Genoot, Justin Mateen and Michael Broukhim.
Existing stockholders of American Bitcoin are expected to own about 98% of the combined company, according to Hut 8. Immediately following the completion of the transaction, the company will “beneficially own” a majority of the issued and outstanding capital stock.
Corporate Backgrounds
Hut 8 is an energy infrastructure platform that trades on the Nasdaq under the “HUT” ticker symbol. According to its website, Hut 8 integrates power, digital infrastructure and compute at scale with the aim of fueling “next-generation, energy-intensive use cases” such as Bitcoin mining and high-performance computing. Its stock price closed at $17.08 on May 22, and is down about 16.6% for the year.
American Bitcoin was launched this year by Eric Trump and Donald Trump, Jr., and got its name following a merger with a Hut 8 unit, Bloomberg reported. The Bitcoin accumulation platform’s mission is to “build American’s Bitcoin infrastructure backbone.”
According to its website, Gryphon Digital Mining aims to “power and run scalable, efficient AI computing and Bitcoin mining operations.” It trades on the Nasdaq under ticker symbol GRPY. Shares closed at $1.15 on May 27 and have spent most of 2025 trading at less than 50 cents.
Relationship With the White House
The Trump family has a number of cryptocurrency ventures, including the controversial $TRUMP meme coin. So far, the coin has made a few dozen crypto wallets millions of dollars richer, while around 764,000 others have lost money on it, CNBC reported.
President Trump has been a vocal supporter of the crypto industry and has urged more bitcoin mining in the United States so it can be the “undisputed Bitcoin superpower.” Using the power of the White House to boost the crypto industry — and potentially enrich the Trumps — has raised more than a few eyeballs.
But Eric Trump has tried to distance himself from any direct involvement with his father’s administration.
“There are no conflicts [of interest] because I don’t work with the White House,” Eric Trump said in a recent Bloomberg TV interview.
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This article originally appeared on GOBankingRates.com: Eric Trump’s ‘American Bitcoin’ Is Going Public — 4 Things To Know Before Investing
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
