American BTC, a Bitcoin reserve firm supported by the Trump family, plans to go public this year.

American Bitcoin, a subsidiary predominantly owned by Hut 8 and linked to the Trump family, is preparing to go public through a merger with Gryphon Digital Mining.

This merger will facilitate a stock-for-stock exchange, allowing American Bitcoin to acquire Gryphon’s public listing. The combined organization is anticipated to start trading on Nasdaq under the ticker “ABTC” as soon as the third quarter of 2025.

According to a statement from Hut 8, the structure of the deal enables American Bitcoin shareholders to retain around 98 percent of the newly merged entity.

Hut 8, which holds a majority stake in American Bitcoin, plans to keep a beneficial interest while redirecting its operational emphasis towards providing infrastructure services via long-term contracts. As a micro-cap Bitcoin miner already listed on Nasdaq, Gryphon will act as the corporate platform for American Bitcoin’s entry into public markets.

The board of the new entity will include Mike Ho, Asher Genoot, Justin Mateen, and Michael Broukhim, while its executive team will feature Ho, Matt Prusak, and Eric Trump.

Eric Trump, who has actively endorsed American Bitcoin’s mission, will continue in his role as chief strategy officer. The company aims to establish itself as a national builder of Bitcoin reserves and a miner focused on brand development with a capital-efficient operational approach.

Donald Trump Jr. is also connected to the venture, as it evolved from American Data Centers Inc., a company co-founded by President Donald Trump’s two sons. The initial announcement noted that American Bitcoin resulted from the strategic contribution of nearly all of Hut 8’s ASIC miners in exchange for a majority share in American Data Centers, which was later renamed as American Bitcoin.

As a Bitcoin reserve enterprise, the company’s mission is to acquire Bitcoin cost-effectively, enhancing exposure through its treasury holdings rather than merely focusing on hashrate.

According to information from the company, the merger aims to grant access to capital markets independent of Hut 8’s financial situation, possibly providing a more streamlined path to strategic financing.

The structure of the combined organization emphasizes low-cost Bitcoin procurement and long-term holding. It utilizes Hut 8’s infrastructure, which manages over 1,020 megawatts of energy capacity and has an additional 10,800 megawatts in development.

Eric Trump’s ongoing involvement in the cryptocurrency sector comes on the heels of his recent promotion of the TRUMP meme coin, his part-ownership of the blockchain financial services company World Liberty Financial, and WLFI’s USD1 launch.

After the announcement of the merger, Gryphon’s stock surged more than threefold to $2.55, while Hut 8 shares increased by 11% to $15.45.

This market response signals a sustained investor interest in Bitcoin-centric public companies, especially in the prevailing pricing environment. As of late April, Bitcoin was trading slightly above $104,000, nearing its highest historical value, which provides an appealing environment for firms looking to establish a public presence with a Bitcoin-driven focus.

Following its merger with US Bitcoin Corp at the end of 2023, Hut 8 reported a self-mining hashrate of 9.3 EH/s for Q1 2025, reflecting a 79% quarter-over-quarter increase, with a strategic reserve exceeding 10,200 BTC as of March. The company also disclosed a net loss of $134 million for the quarter, underscoring the necessity for alternative financing mechanisms outside its existing financial framework.

The reverse merger simplifies the complexities and timing issues often associated with traditional IPOs, allowing American Bitcoin to access public markets while still retaining operational and strategic control.

Completion of the merger depends on Gryphon’s continued Nasdaq eligibility, alongside stockholder and regulatory approvals.

If finalized, American Bitcoin will join a growing trend of mining firms leveraging financial strategies to synchronize their treasury approaches with access to public capital markets.