US Bitcoin Mining Firm American Bitcoin Plans Nasdaq Listing After Merger
The US mining company American Bitcoin, backed by Donald Trump Jr. and Eric Trump, will go public on Nasdaq in early September via an all-stock merger with Gryphon Digital Mining (NASDAQ-CM: GRYP).
- American Bitcoin will retain its name and trade under the ticker ABTC.
- Hut 8 holds an 80% stake in American Bitcoin, and the Trump brothers and Hut 8 are expected to control 98% of the merged company.
- Significant investors include Tyler and Cameron Winklevoss, co-founders of Gemini.
- The merger is designed for streamlined financing and utilizes Gryphon's public company status.
- Expected completion is in Q3 2025, pending regulatory approval.
- Gryphon’s shares rose 23% within five days following the merger announcement.
- American Bitcoin aims to expand globally, including potential investments in Asia.
This move coincides with renewed policy support for cryptocurrency growth during Trump's administration, targeting institutional and private investors who face restrictions on purchasing Nasdaq-listed shares.