Bitcoin News Today: Trump-Backed Bitcoin Miner Stakes Claim in Nasdaq Gold Rush

American Bitcoin, a Bitcoin mining and treasury firm backed by Donald Trump’s sons, Eric and Donald Trump Jr., made its Nasdaq debut on Wednesday, with shares rising 17% to close at $8.04 per share, according to data from Yahoo Finance. The stock surged as high as $14 during early trading before settling at a more modest gain. The firm’s listing marks a significant step in expanding Bitcoin’s presence within U.S. capital markets and highlights the growing involvement of the Trump family in the cryptocurrency sector.

The company was formed through a stock-for-stock merger with Gryphon Digital Mining, a smaller-cap Bitcoin miner. The merger allowed American Bitcoin to bypass a traditional IPO process and enter the Nasdaq under the ticker symbol ABTC. The deal was approved by Gryphon’s shareholders in August 2025, and a reverse stock split at a 5-to-1 ratio was implemented to meet Nasdaq’s listing requirements. This restructuring reduced the number of outstanding shares from approximately 82.8 million to around 16.6 million, excluding new issuances tied to the merger.

American Bitcoin’s business model is threefold: mining Bitcoin, acquiring it through opportunistic market purchases, and leveraging its brand to enhance value. The company operates industrial-scale mining operations and holds a strategic Bitcoin reserve, with SEC filings indicating a holding of 2,443 BTC as of early September 2025. That reserve is valued at nearly $273 million, a substantial increase from its initial disclosed holdings. Eric Trump, the company’s co-founder and chief strategy officer, emphasized the significance of the Nasdaq listing, calling it a “historic milestone” that aligns with the goal of making the U.S. a leader in the global Bitcoin economy.

Hut 8, a publicly traded Bitcoin miner based in Miami, controls 80% of American Bitcoin, while the Trump-backed American Data Centers holds the remaining 20%. Hut 8’s infrastructure and expertise in energy-efficient mining operations form the backbone of American Bitcoin’s strategy. The company aims to grow its Bitcoin-per-share holdings by combining mining operations with strategic market purchases and leveraging Hut 8’s industrial capabilities. This approach, the company claims, allows it to mine Bitcoin at a significantly lower cost—approximately $0.50 per dollar of Bitcoin’s price—compared to the market rate.

The firm also plans to raise up to $2.1 billion through the issuance of Class A common stock, with the proceeds allocated toward Bitcoin purchases, acquisition of mining hardware (ASICs), and general corporate needs. This strategy underscores its focus on building a robust balance sheet and increasing long-term shareholder value. According to a September 3 SEC filing, American Bitcoin considers its Bitcoin reserve a “core strategic asset” essential to its financial stability and growth objectives.

The debut comes at a pivotal moment in the Bitcoin market. With the price hovering around $111,820 on the day of the listing, the cryptocurrency remains under pressure from overhead resistance levels but has shown signs of stabilizing. Analysts noted that the firm’s success hinges on its ability to maintain a competitive edge in energy costs and scale operations efficiently. As the crypto industry becomes increasingly competitive, American Bitcoin’s strategy of combining mining, accumulation, and infrastructure development positions it as a unique player in the market.

Source: [1] Gryphon Digital Mining Announces Stockholder Approval of Merger Transaction with American Bitcoin (https://ir.gryphondigitalmining.com/news-events/press-releases/detail/51/gryphon-digital-mining-announces-stockholder-approval-of-merger-transaction-with-american-bitcoin) [2] Trump family-backed American Bitcoin is a different sort of venture (https://www.axios.com/2025/09/04/trump-abtc-american-bitcoin) [3] Trump-Backed American Bitcoin Reveals $273M BTC Reserve (https://finance.yahoo.com/news/trump-backed-american-bitcoin-reveals-022615408.html) [4] American Bitcoin listed on the Nasdaq (https://finance.yahoo.com/news/american-bitcoin-listed-on-the-nasdaq-141359159.html) [5] Trump-backed Bitcoin company soars in Nasdaq debut (https://www.theblock.co/post/369400/trump-backed-bitcoin-company-soars-in-nasdaq-debut-as-presidents-sons-expand-crypto-fortunes)