A Bitcoin mining company backed by U.S. President Donald Trump’s family announced on Monday that it is set to go public this year. American Bitcoin Corporation, a newly launched firm majority-owned by crypto company Hut 8 Corp. and partially owned by Eric Trump and Donald Trump Jr., will go public via an all-stock merger with Gryphon Digital Mining, Bloomberg reported. Following the merger, the combined entity will operate under the name American Bitcoin and is expected to list on Nasdaq under the ticker ABTC. The deal is slated to close by the third quarter of 2025, likely by October.
Trump’s expanding crypto playbook
This is not the Trump family’s first foray into crypto. Previous ventures include World Liberty Financial and meme coins like $TRUMP and $MELANIA. With American Bitcoin, the family is now eyeing large-scale Bitcoin mining and the accumulation of a strategic Bitcoin reserve. Launched in March 2025, American Bitcoin positions itself as a “pure-play” mining firm focused exclusively on Bitcoin infrastructure and accumulation. Once the merger is complete, existing shareholders—including the Trump brothers—will retain 98% ownership in the company. Eric Trump will continue as Chief Strategic Officer, according to Reuters.
Why go public through a merger?
Eric Trump described the company’s vision as building “the most investable Bitcoin accumulation platform in the market,” aiming to become “the world’s largest pure-play Bitcoin mining operation.” Hut 8 CEO Asher Gennot added that the public listing would unlock access to dedicated growth capital without weighing on Hut 8’s balance sheet, while allowing shareholders to benefit from long-term Bitcoin upside. Bitcoin mining is akin to running large-scale data centers filled with high-powered hardware that solves complex calculations to earn Bitcoin. Profitability depends on the earned coins exceeding operational costs—mainly electricity. Trump has promised to make the U.S. a global crypto leader with lighter regulations, but his family’s growing involvement in crypto ventures has sparked criticism over potential conflicts of interest and ethical concerns.