Trump Sons-Backed American Bitcoin Set to Go Public in September
Highlights:
- Through an all-stock merger, American Bitcoin is set to go public on Nasdaq in early September.
- The merged company will have 98% of its control held by Trump sons and Hut 8.
- Expansion plans include acquisitions in Asia and global asset growth.
American Bitcoin, a cryptocurrency mining company linked to the Trump family, is set to go public in early September following a completed all-stock merger with Gryphon Digital Mining. This strategic step provides the company with a fast entry into the public markets without the traditional IPO. The company opted to carry out a merger, rather than undergo the long IPO process, to tap into more robust financing and existing capital structure, as reported by Reuters.
At the Crypto Asia Conference in Hong Kong, Hut 8 CEO Asher Genoot confirmed the success of the merger nearing completion and the debut on Nasdaq. After the listing, the merged organization will keep the name American Bitcoin and will trade with the ticker symbol ABTC. The company is already established on a strong financial foundation, as there are already secured anchor investors even before the public listing.
JUST IN: 🇺🇸 Eric Trump and Donald Trump Jr. backed American Bitcoin to start soon trading on the Nasdaq – Reuters #Bitcoin is taking over Wall Street 🙌 pic.twitter.com/GDrLqvjM3q
— Bitcoin Magazine (@BitcoinMagazine) August 28, 2025
American Bitcoin to Go Public in September With Major Shareholder Control
The leadership of the new company revolves around the Trump family. Upon merging, co-founders Eric Trump and Donald Trump Jr., together with Hut 8, will possess 98% of American Bitcoin. According to Genoot, Hut 8 is going to hold 80% of the business, and the Trump brothers will also have a substantial investment.
In addition, he described how the merger path opened up better access to capital markets. This structure permits American Bitcoin to access existing sources of public financing, which facilitates faster scaling and growth. It will also assist in attracting institutional and retail investors seeking regulated Bitcoin exposure.
American Bitcoin issued more than 11 million shares to private investors to raise about $220 million in July. Among the funds raised, $10 million was in Bitcoin. The company recorded net proceeds of $215 million after deducting the expenses and charges. The funds will be directed to further mining efforts and more Bitcoin purchases.
Expansion Strategy Targets Asia and Infrastructure Growth
The American Bitcoin does not confine its ambitions to the U.S. market. The company has already embarked on acquisition opportunities in Asia. Genoot acknowledged that the company is also considering assets in Japan and Hong Kong. Furthermore, the aim is to enable investors in restricted markets to purchase Bitcoin-related stocks by getting exposure worldwide.
According to FT, the U.S. crypto mining company American Bitcoin, backed by Donald Trump Jr. and Eric Trump, is seeking acquisition targets in Asia. The firm is targeting a listed company in Japan and may also look at Hong Kong to emulate Michael Saylor’s Strategy by stockpiling…
— Wu Blockchain (@WuBlockchain) August 16, 2025
There are no final deals that have been finalized yet, but discussions are underway. Genoot pointed out that they are considering different strategic partnerships but have not taken firm commitments. He also stated that Eric Trump himself was already in Asia and would be present at a Bitcoin event in Tokyo organized by Metaplanet, a Japanese crypto company.
American Bitcoin was established earlier this year when Hut 8 abandoned its focus on the mining business, gearing towards energy infrastructure and data center operations. The new company reflects that transformation as it integrates traditional infrastructure with Bitcoin mining. As Genoot remarked, the platform is intended to appeal to both traditional investors and those oriented to crypto matters.
The strategy resembles those of other U.S.-listed Bitcoin miners who grow with mergers and equity issuances. Through its use of capital markets and political connections, American Bitcoin is set to go public with momentum behind it.
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Raymond Munene
Raymond Munene is a crypto content writer who contributes to Crypto2Community. With over three years of experience, he is interested in Bitcoin, Blockchain, and Technical Analysis. Focusing on daily market analysis, his research helps traders and investors alike. His particular interest in cryptocurrency and blockchain aids his audience.
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