Trump-Linked Miner American Bitcoin Set for September Nasdaq Debut
American Bitcoin, the Bitcoin (BTC $108,506.60) mining company partially owned by Donald Trump Jr. and Eric Trump, is preparing for a Nasdaq listing in September, Hut 8 CEO Asher Genoot confirmed. Hut 8 holds the remaining 80% stake in the firm.
The company is finalizing a merger with Gryphon Digital Mining, which will enable its public debut. After the merger, existing shareholders are expected to retain about 98% ownership of the combined entity, according to Reuters.
Launched in March, American Bitcoin has pursued a strategy of accumulating Bitcoin via mining operations and direct purchases for its balance sheet. The involvement of the Trump brothers adds a high-profile political dimension to the firm.
The Nasdaq move follows a similar announcement by another Trump-linked entity, Trump Media and Technology Group (DJT), which plans a SPAC combination with Crypto.com to go public.
American Bitcoin recently raised $220 million from accredited investors, alongside $10 million in Bitcoin contributions. The capital is intended to expand mining infrastructure and strengthen the treasury ahead of the Nasdaq listing.
Speaking at the Bitcoin Asia conference in Hong Kong, Genoot noted the company may also pursue international ventures to provide regulated exposure to Bitcoin-linked assets for investors outside the U.S.
The Nasdaq debut highlights the company’s bet that public markets continue to seek direct exposure to crypto miners, despite rising competition and fluctuating energy costs. The September listing would place American Bitcoin among a small cohort of miners tapping public markets to attract institutional capital.
For Hut 8, the move further establishes its presence in North American Bitcoin mining, while giving the Trump family a stake in a company tied directly to Bitcoin’s growth.
Following the announcement, Hut 8 shares edged up 0.6% to $26.50.
