Bitcoin News Today: Trump-Backed Bitcoin Miner Set to Go Public in Strategic Merger Move

American Bitcoin, a cryptocurrency mining firm backed by Donald Trump Jr. and Eric Trump, is set to begin trading on the Nasdaq under the ticker symbol ABTC in early September, according to its largest investor, Hut 8 CEO Asher Genoot. The firm, which operates as a joint venture between Hut 8 and the Trump family, is completing a merger with Gryphon Digital Mining, which is expected to facilitate its public listing. Hut 8, through its 80% stake in American Bitcoin, has positioned itself as the primary shareholder in the new entity, which will retain the name American Bitcoin and trade publicly for the first time.

The decision to pursue a merger rather than a traditional initial public offering (IPO) was driven by the advantages of leveraging an existing company with access to diverse financing options, according to Genoot, who shared these insights at the Bitcoin Asia conference in Hong Kong. This strategic move aligns with broader efforts to establish American Bitcoin as “the world’s largest, most efficient pure-play bitcoin miner.” The company, launched in March 2025, combines Hut 8’s mining and infrastructure expertise with the Trump brothers’ involvement in shaping the firm’s strategic direction, including mining operations, site development, and treasury initiatives.

Notably, Gemini’s co-founders Tyler and Cameron Winklevoss have also joined as investors in the new entity, signaling support from the broader cryptocurrency ecosystem. Genoot emphasized that the firm would employ a flexible approach to bitcoin accumulation, combining both mining and purchasing strategies to optimize returns at different market stages. This dual approach differentiates American Bitcoin from traditional treasury strategies or mining-focused firms, offering a more dynamic and adaptive model to navigate the volatile cryptocurrency market.

Beyond its U.S. operations, American Bitcoin is actively exploring opportunities in Hong Kong and Japan to expand its global footprint, with a focus on acquiring crypto assets and potentially taking stakes in international firms. These efforts aim to provide global investors with access to publicly listed bitcoin assets, addressing regulatory and market limitations that currently restrict direct participation in U.S.-listed stocks. While the firm has not committed to specific investments yet, the strategic emphasis on international expansion underscores its ambition to build a globally diversified portfolio.

Political scrutiny surrounding the Trump family’s involvement in the cryptocurrency industry has persisted, with critics citing potential conflicts of interest given the U.S. administration’s pro-crypto stance. However, Genoot has clarified that American Bitcoin’s operations are independent of government influence and that the Trump brothers’ roles are confined to strategic advisory functions. As the U.S. continues to develop regulatory frameworks to support cryptocurrency growth under President Donald Trump, American Bitcoin’s public listing marks a significant milestone in the sector’s maturation and increased institutional acceptance.

Source: [1] American Bitcoin, backed by Trump sons, aims to start trading in September (https://arizonadigitalfreepress.com/american-bitcoin-backed-by-trump-sons-aims-to-start-trading-in-september/)