Bitcoin News Today: Trump-Backed Bitcoin Miner Jumps to Nasdaq With $6.4B Crypto Push

American Bitcoin, a Bitcoin mining company backed by Donald Trump’s sons, Eric and Donald Trump Jr., is preparing for a trading debut on the Nasdaq in early September under the ticker symbol ABTC. The company will emerge from a merger with Gryphon Digital Mining, a deal that allows it to access traditional and crypto-focused institutional investors. The transaction, which will be structured entirely through stock, has already secured anchor shareholders and is expected to be finalized soon [1].

The new entity will retain the name American Bitcoin, and the Trump brothers, along with Hut 8, the parent company that owns 80% of the firm, will hold 98% of its shares [1]. Hut 8 CEO Asher Genoot explained that the decision to pursue a merger, rather than a direct listing, was motivated by the need for stronger financing access. By leveraging the existing capital market connections of Hut 8, the company aims to provide investors with more structured and scalable growth opportunities [1].

American Bitcoin is also exploring expansion opportunities in Asia, particularly in Hong Kong and Japan, according to reports. The company is in early discussions for potential acquisitions and partnerships to strengthen its global presence. Genoot confirmed that the goal is to provide investors in markets where direct Nasdaq-listed crypto stocks are unavailable with alternative exposure to Bitcoin-related assets. While no firm commitments have been made, the strategy aligns with the business models of other major U.S.-listed Bitcoin firms that rely on equity financing and strategic mergers to accelerate growth [3].

The move comes as Hut 8 has shifted its focus from pure Bitcoin mining to energy infrastructure and data centers. This strategic pivot, coupled with the Trump family's involvement, positions American Bitcoin as a hybrid player in the crypto and energy sectors. The merger is also seen as a way to build a publicly listed vehicle that can attract both institutional investors and retail traders seeking regulated exposure to Bitcoin [3].

The company’s decision to go public marks a significant step in the increasing convergence of traditional finance and cryptocurrency markets. With the Trump family's name and influence, American Bitcoin’s listing is expected to draw considerable attention. However, the market’s reception will depend on broader crypto market conditions and investor sentiment toward Bitcoin as an asset class. The stock’s performance will also be influenced by the company’s operational efficiency and its ability to expand through strategic acquisitions in the months ahead [3].

Source:

[1] American Bitcoin, backed by Trump's sons, aims to start (https://finance.yahoo.com/news/american-bitcoin-backed-trumps-sons-063405780.html)

[2] Trump Family Expands Crypto Empire With $6.4 Billion (https://www.investors.com/news/trump-media-cro-6-4-billion-crypto-com-crypto-empire-metaplanet-bitcoin/)

[3] American Bitcoin Eyes September Trading Debut: Report (https://cryptonews.com/news/american-bitcoin-trump-sons-linked-mining-firm-september-trading-debut/)