Trump family-backed American Bitcoin to trade on Nasdaq as crypto investors sign on | Latest Tech News
American Bitcoin, the bitcoin miner backed by two of President Trump’s sons, has locked in crypto and conventional investors to back an all-stock merger that will permit the firm to soon start trading on the Nasdaq, the company’s largest investor said.
The unlisted firm’s merger with Gryphon Digital Mining is set to be finalized shortly, and the aim is to start trading in early September, according to Asher Genoot, the CEO of Hut 8, which holds 80% of American Bitcoin.
Anchor shareholders in the itemizing have been finalized, he said, including crypto exchange Gemini’s co-founders Tyler and Cameron Winklevoss had invested in the new firm.
Donald Trump Jr and Eric Trump have locked in crypto and conventional investors to back an all-stock merger that will permit American Bitcoin to soon start trading on the Nasdaq. REUTERS
Gemini didn’t immediately reply to GWN’ requests for remark.
American Bitcoin’s co-founder, Eric Trump, his brother Donald Trump Jr. and Hut 8, will own a mixed 98% of the newly shaped entity, which is able to retain the title American Bitcoin and trade under the stock code ABTC.
“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,” Genoot told GWN at the Bitcoin Asia convention in Hong Kong.
Eric Trump is also in Hong Kong and will journey to Tokyo at the weekend for an event for Metaplanet, a Japanese bitcoin treasury firm, Genoot said.
American Bitcoin is searching for crypto belongings to buy in Hong Kong and Japan to construct out its global business, the Financial Times reported two weeks in the past.
Genoot said American Bitcoin might take stakes in corporations exterior the US to give people access to publicly listed bitcoin belongings, as some investors have been prevented from shopping for Nasdaq-listed shares.
Launched in March 2025 by Hut 8, together with Eric Trump and Donald Trump Jr, American Bitcoin has vowed to develop into “the world’s largest, most efficient pure-play bitcoin miner.” AP
Asher Genoot, the CEO of Hut 8, which holds 80% of American Bitcoin. REUTERS
“Right now it’s very early. So we haven’t been committed to anything,” he said.
Launched in March 2025 by Hut 8, together with Eric Trump and Donald Trump Jr., American Bitcoin has vowed to develop into “the world’s largest, most efficient pure-play bitcoin miner.”
The creation of the firm comes as the US accelerates crypto-related laws to assist the growth of the industry under Trump.
Genoot said the new firm would accumulate the cryptocurrency through both mining and shopping for.
“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,” he said.
Miami-based Hut 8 was also a crypto miner but has shifted its focus to vitality infrastructure and data facilities after launching American Bitcoin with the Trump sons.
Hut 8 will lease data facilities to American Bitcoin, Genoot said.
Trump’s critics have accused him of conflicts of curiosity in selling the crypto industry at a time when his household is concerned in the sector, allegations which the White House has brushed apart.
Genoot said American Bitcoin’s business had nothing to do with authorities, and Eric Trump was mainly concerned in strategy, such as in relation to bitcoin mining, new web site development and treasury strategy.
Separately, at the same convention, Nakamoto Holdings, a bitcoin treasury company led by crypto advocate David Bailey, said it was trying across Asia’s crypto startup scene and deliberate to assist early-stage corporations to grow the crypto ecosystem.
“We’re also going to be looking at other opportunities where we can incubate and do M&As,” said Kevin Zhang, head of Asia at Nakamoto.
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