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American Bitcoin, Backed by Trump's Sons, to Commence Trading on Nasdaq

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by Giorgi Kostiuk

2 hours ago


American Bitcoin, a cryptocurrency mining company backed by President Donald Trump's sons, is set to begin trading on the Nasdaq exchange in September 2025 after merging with Gryphon Digital Mining.

Merger Strategy and Public Market Entry

American Bitcoin is completing its all-stock merger with Gryphon Digital Mining, allowing the company to start trading on Nasdaq under the ticker symbol ABTC. Hut 8's CEO, who holds an 80% stake, confirmed that the investor lineup has been finalized, including investments from Gemini founders Tyler and Cameron Winklevoss. "We thought there were many advantages to financing when having an existing company with access to various financing options," Genoot said at the Bitcoin Asia conference.

Global Expansion and Acquisition Strategy

American Bitcoin is also exploring opportunities to acquire crypto assets in Hong Kong and Japan as part of its international expansion efforts. Genoot indicated that the company could acquire stakes in overseas firms to provide investors access to publicly listed Bitcoin assets. The company launched in March 2025 through a partnership with Hut 8 and the Trump brothers, aiming to become 'the world's largest, most efficient pure-play Bitcoin miner.'

Political Scrutiny and Business Independence

President Trump has faced criticism regarding potential conflicts of interest while promoting cryptocurrency policies. However, the White House dismissed these allegations. Genoot emphasized that American Bitcoin operates independently from government activities, with Eric Trump involved only in strategic business decisions.

American Bitcoin's September debut on Nasdaq marks a significant milestone for the Trump family's involvement in public cryptocurrency markets, showcasing the company's dual strategy of mining and direct Bitcoin purchases.

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