American Bitcoin, a mining company co-founded by Eric Trump and Donald Trump Jr., is preparing to start trading on the Nasdaq in early September following an all-stock merger with Gryphon Digital Mining.
Major shareholders and investor backing
The company’s largest investor, Hut 8, which holds an 80% stake, confirmed that anchor shareholders have been finalized.
Notably, Tyler and Cameron Winklevoss, co-founders of the Gemini exchange, are among the investors backing the new firm.
Following the merger, American Bitcoin—trading under the ticker ABTC—will see the Trump brothers and Hut 8 collectively own 98% of the entity.
Asher Genoot, CEO of Hut 8, explained the rationale for the merger at the Bitcoin Asia conference:
“Instead of going public directly via IPO, we thought that there was a lot more advantages to financing if we had an existing company that already had access to different financing too.”
Expansion strategy and global ambitions
Eric Trump is actively involved in American Bitcoin’s strategic direction, including its mining operations and site development.
The company is seeking bitcoin assets to acquire in Hong Kong and Japan, aiming to expand its global footprint and provide more investors with access to publicly listed bitcoin assets—even in regions where buying Nasdaq stocks is restricted.
Mining and treasury approach
Launched in March 2025, American Bitcoin plans to grow its bitcoin holdings through both mining and direct purchases, adjusting its strategy based on market conditions. Genoot noted:
“Instead of just a treasury strategy where companies raise money to buy bitcoin or just a mining company… we ebb and flow between which one is the best return at different times.”
Industry context and related developments
The U.S. has recently accelerated bitcoin-related legislation under President Donald Trump.
Meanwhile, Hut 8 has shifted towards energy infrastructure and will be leasing data centers to American Bitcoin. Separately, Nakamoto Holdings announced new efforts to support early-stage bitcoin companies in Asia.
For more on bitcoin mining companies’ holdings, see the public miner BTC treasuries tracker.
