U.S. Bitcoin Miner Supported by Eric and Donald Trump Jr. Set to Become Publicly Traded

American Bitcoin, which is primarily owned by Hut 8 and supported by the Trump family, is set to become publicly traded through a merger with Gryphon Digital Mining.

In pre-market trading, Hut 8 Corp. shares increased by 12%, while Gryphon Digital Mining saw over a 200% surge following the announcement.

In March, Eric Trump and Donald Trump Jr. combined their company, American Data Center, with American Bitcoin, giving the Trump brothers a 20% stake in American Bitcoin, with Hut 8 owning the remaining 80%.

The stock-for-stock deal means Gryphon will absorb American Bitcoin, resulting in the merged entity adopting the American Bitcoin name and operating under the ticker symbol “ABTC” on Nasdaq.

The merger is projected to conclude as early as the third quarter of 2025. American Bitcoin will continue to function under its current management and board, including CEO Mike Ho, with a commitment to increasing efficient Bitcoin (BTC) acquisition.

Asher Genoot, CEO of Hut 8, expressed, “This deal represents our efforts to strengthen American Bitcoin as a specialized platform for large-scale, cost-effective Bitcoin accumulation. By moving American Bitcoin to a public structure, we aim to gain direct access to specific growth capital, separate from Hut 8’s financials.”

After the merger’s completion, existing American Bitcoin shareholders are anticipated to hold approximately 98% of the new entity, with Hut 8 retaining the majority ownership while acting as the primary infrastructure and operations collaborator.