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Trump Brothers to Lead American Bitcoin’s Nasdaq Listing in Strategic Merger with Gryphon Digital Mining
In a major move in the world of digital assets, American Bitcoin, a Bitcoin mining company partially owned by Eric and Donald Trump Jr., has announced plans to go public through an all-stock merger with Gryphon Digital Mining. The deal marks a significant step in the Trump family's growing involvement in cryptocurrency, with the newly merged company set to list on Nasdaq under the ticker symbol “ABTC.”
The company will maintain the name American Bitcoin, and this move comes after a March merger between the Trump family's American Data Center and American Bitcoin. While the financial terms of the merger have not been disclosed, it signals an aggressive expansion strategy aimed at making Bitcoin mining more scalable.
A Vision for Scalable Bitcoin Mining
In a statement, Eric Trump, who serves as the co-founder and chief strategy officer of American Bitcoin, shared the company’s vision for the future. He emphasized that the merger brings them closer to offering a platform engineered for scale and long-term value creation, particularly in what they believe is one of the most important asset classes of our time.
This public debut on Nasdaq is seen as an important milestone in American Bitcoin’s journey to becoming a leading force in the Bitcoin mining industry. While the company remains focused on creating a robust infrastructure for cryptocurrency mining, it also aims to offer investors an opportunity to capitalize on the growing demand for Bitcoin.
Leadership and Future Growth Plans
Under the new structure, Eric Trump will continue his role as chief strategy officer, while Mike Ho will take over as CEO of the company. Asher Genoot, the CEO of Hut 8, the parent company of American Bitcoin, stated that the merger and the public listing would unlock direct access to growth capital independent of Hut 8’s balance sheet. This move is expected to position American Bitcoin for greater success in the digital asset market while preserving significant exposure to Bitcoin’s long-term upside.
The deal is expected to close by the third quarter of 2025, as American Bitcoin prepares for its public listing on one of the world’s most prominent stock exchanges.
Trump Family's Expanding Role in Cryptocurrency
While Eric Trump is not currently serving in the administration, the Trump family’s involvement in cryptocurrency continues to grow. President Trump, in his second term, has increasingly voiced support for U.S.-based Bitcoin miners and the broader cryptocurrency industry, and signed an executive order to create a strategic Bitcoin and digital assets reserve, which would be funded by seized crypto assets held by the Treasury.
In addition to their stake in American Bitcoin, the Trump family also holds a significant share in World Liberty Financial, a cryptocurrency exchange launched in October 2024. This exchange further solidifies the family’s influence in the digital asset space, which has grown considerably in recent years.
Critics and Market Reactions
Despite the excitement surrounding the announcement, the merger has drawn some concerns, particularly regarding the increasing concentration of power within the Trump family's crypto ventures. Critics have questioned whether the move could open the door for potential conflicts of interest, especially with the Trump family’s political connections and its growing presence in the digital asset market.
Looking Ahead: A New Era for Bitcoin Mining
As the Trump brothers prepare to take American Bitcoin public, all eyes will be on the company’s performance on the Nasdaq. The move highlights the growing importance of Bitcoin mining in the broader fintech ecosystem and underscores the increasing involvement of major political and business figures in cryptocurrency.
