Crypto Reporter
Shalini Nagarajan
Crypto Reporter
Shalini Nagarajan
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American Bitcoin, the Bitcoin mining company backed by US President Donald Trump’s two sons, is preparing to begin trading on the Nasdaq in early September after finalizing a merger with Gryphon Digital Mining.
The company has secured both crypto-focused and traditional institutional investors for the all-stock deal, Asher Genoot, CEO of Hut 8, which owns 80% cent of American Bitcoin, told Reuters in an interview.
Anchor shareholders have already been lined up to support the debut.
Once the merger is completed, American Bitcoin will retain its name and trade under the ticker ABTC.
Trump Brothers and Hut 8 Retain Near-Total Control of American Bitcoin After Merger
Co-founders Eric Trump and Donald Trump Jr, together with Hut 8, will hold a combined 98% of the entity.
Genoot told Reuters that the team chose a merger instead of a direct listing. He explained that this route offered better access to financing. Also, it allows the company to leverage an existing business already connected to capital markets.
American Bitcoin has been exploring acquisitions in Hong Kong and Japan to expand its footprint, the Financial Times reported earlier this month. Genoot confirmed that the company is actively assessing opportunities in Asia, with the aim of giving investors broader access to bitcoin-linked assets beyond the US.
He said that while discussions are under way, no firm commitments have been made. The focus, he added, is to create options for investors who cannot directly buy Nasdaq-listed crypto stocks due to local restrictions.
American Bitcoin Born From Hut 8’s Strategic Shift Into Infrastructure
American Bitcoin was founded earlier this year. It emerged from Hut 8’s pivot away from pure crypto mining into energy infrastructure and data centres. The new venture was created in partnership with the Trump brothers. Now, it is positioning itself as a global bitcoin miner. Further, the company has ambitions to expand through acquisitions and partnerships.
The strategy has been described as mirroring that of large US-listed Bitcoin firms. These firms often use equity financing and mergers to accelerate growth.
Moreover, Genoot said the goal is to build a vehicle that appeals to both institutional investors and retail traders. He added that the focus is on giving them exposure to Bitcoin through regulated exchanges.
