American Bitcoin Set to List on Nasdaq After Merger

HONG KONG, Aug 28 (Reuters) – American Bitcoin, a bitcoin mining company backed by Eric Trump and Donald Trump Jr., is nearing an all-stock merger with Gryphon Digital Mining that will allow it to trade on the Nasdaq. Asher Genoot, CEO of Hut 8, which owns 80% of American Bitcoin, announced plans to finalize the merger soon, aiming for a debut in early September.

Eric Trump and his brother, alongside Hut 8, will collectively control 98% of the new entity, which will retain the name American Bitcoin and trade under the ticker ABTC. “By merging with an existing company instead of a direct IPO, we gain access to various financing options,” Genoot said at the Bitcoin Asia conference.

Gemini co-founders Tyler and Cameron Winklevoss have also invested in the venture, with Gemin’s request for comment pending. Meanwhile, American Bitcoin is actively seeking crypto assets in Hong Kong and Japan to enhance its global reach and offer publicly listed bitcoin investments.

<pThe startup launched in March 2025 as a collaboration among Hut 8, Eric Trump, and Donald Trump Jr. It aims to become "the world’s largest, most efficient pure-play bitcoin miner," taking a hybrid approach to accumulating bitcoin through mining and purchasing.

Genoot added that the firm is exploring opportunities beyond U.S. borders, as some investors face restrictions on buying Nasdaq stocks. “It’s still early, and we haven’t committed to anything yet,” he said.

The merger occurs amid increasing crypto-related legislation in the U.S. under President Trump. Genoot emphasized that American Bitcoin’s operations are independent of any governmental influence, with Eric Trump focusing primarily on strategic decisions regarding mining and treasury management.

During the same conference, David Bailey from Nakamoto Holdings expressed plans to support early-stage crypto firms across Asia by exploring incubation opportunities and mergers. “We are looking into ways we can help grow the crypto ecosystem,” said Kevin Zhang, Nakamoto’s head of Asia.