Bitcoin News Today: Trump-Backed Bitcoin Miner Enters Nasdaq Amid Controversy

American Bitcoin Corp. (ABTC) began trading on the Nasdaq on September 3, 2025, following the completion of its stock-for-stock merger with Gryphon Digital Mining (GRYP). This marks a significant step in the company’s mission to provide institutional-grade exposure to Bitcoin through a business model that integrates Bitcoin mining and accumulation strategies [1]. The new entity aims to leverage Hut 8’s existing infrastructure to scale its mining operations without the need for large capital expenditures, thereby enhancing operational efficiency and Bitcoin-per-share growth [2].

The merger with Gryphon Digital Mining allowed American Bitcoin to access the public markets more quickly, as it exchanged privately issued stock to raise $220 million. Hut 8 contributed the majority of its Bitcoin mining ASICs in exchange for 80% of the new company’s stock, positioning it as the primary shareholder and strategic partner. Hut 8 will now focus on expanding its data center business, which includes hosting hardware for AI-related workloads [3].

American Bitcoin’s business model is built on a dual strategy of self-mining and opportunistic market purchases of Bitcoin, designed to respond effectively to market conditions. This approach is intended to maximize return on invested capital, with mining conducted at a cost lower than market prices, providing a structural advantage over other accumulation vehicles [2]. Through its partnership with Hut 8, American Bitcoin benefits from shared services, including next-generation ASIC technology and a scaled colocation infrastructure platform, reducing SG&A costs and enabling greater capital allocation for Bitcoin accumulation [2].

The company’s public listing has drawn attention to the growing influence of the Trump family in the cryptocurrency space. Eric Trump, co-founder and chief strategy officer of American Bitcoin, stated that the company represents a “public vehicle for investors seeking scalable, singular exposure to the defining asset class of our time.” Donald Trump Jr., another key stakeholder, emphasized the alignment of the venture with broader American values, such as freedom and transparency, and highlighted its potential to strengthen the U.S. financial system [2].

Analysts have noted that the Trump family’s involvement in American Bitcoin is part of a larger pattern of crypto-related ventures, including token offerings, memecoins, and NFTs. The family’s financial success from these ventures has raised concerns among critics, who view the projects as potential avenues for influence peddling. Eric Trump has previously denied any coordination with his father on these business initiatives, despite the controversies surrounding them [3].

As American Bitcoin enters the Nasdaq, it faces a competitive landscape in the Bitcoin mining and accumulation sector. The company’s ability to sustain growth will depend on its operational efficiency, Bitcoin price dynamics, and its capacity to navigate regulatory and market uncertainties. The company has issued cautionary statements regarding forward-looking projections, acknowledging the risks associated with Bitcoin price fluctuations, hashrate expansion, and geopolitical events [2].

Source:

[1] American Bitcoin debuts on Nasdaq, Gryphon shares soar in ... (https://finance.yahoo.com/news/american-bitcoin-debuts-nasdaq-gryphon-125159577.html)

[2] American Bitcoin Debuts on Nasdaq as "ABTC" (https://www.prnewswire.com/news-releases/american-bitcoin-debuts-on-nasdaq-as-abtc-302544577.html)

[3] Trump-backed American Bitcoin mining firm to start trading ... (https://fortune.com/crypto/2025/09/03/american-bitcoin-nasdaq-trading-eric-donald-trump-jr-hut-8/)