Eric Trump's American Bitcoin to Go Public, Aiming for 98% Ownership

American Bitcoin, a Bitcoin mining company co-founded by Eric Trump, has announced its plans to go public through a merger with a Nasdaq-listed company, Gryphon Digital Mining. The merger, which is expected to be finalized in the third quarter of 2025, aims to scale Bitcoin accumulation at a low cost. The deal will allow American Bitcoin stockholders to own 98% of the new entity, while Gryphon shareholders will hold the remaining 2%.

The new venture, which will operate under the brand American Bitcoin, will focus on industrial Bitcoin mining and the development of Bitcoin reserves. Eric Trump expressed his vision for the company, stating, "Our vision for American Bitcoin is to create the most investable Bitcoin accumulation platform in the market." Asher Genoot, CEO of Hut 8 and a board member of American Bitcoin, highlighted that going public would enable the firm to scale and achieve its goals.

This move marks the latest Trump family venture into the cryptocurrency space, following other interests in stablecoins and decentralized finance (DeFi). The strategy for American Bitcoin involves mining Bitcoin rather than purchasing it directly from the market. According to CryptoQuant Axel Adler, the average cost of mining one Bitcoin was around $36.8K, which, compared to the current Bitcoin value, translates to a significant gain. However, some analysts have criticized this figure, stating that it only accounts for electricity costs and not the cost of mining hardware, which could increase the total cost to $80K-$90K per Bitcoin.

The merger is expected to position American Bitcoin as a publicly traded vehicle for low-cost Bitcoin accumulation at scale. The company's focus on industrial mining and reserve development aligns with its goal of creating an investable platform for Bitcoin accumulation. The success of this venture will depend on market interest and the company's ability to execute its strategy effectively.