HONG KONG, 28 August 2025 — American Bitcoin, a bitcoin mining company co-founded by Eric Trump and Donald Trump Jr., is preparing to begin trading on the Nasdaq under the ticker ABTC in early September, following an all-stock merger with miner Gryphon Digital Mining (GRYP.O).

This move will officially bring the previously private firm into the public sphere without the traditional Initial Public Offering (IPO) route. Hut 8, the majority stakeholder with an 80% ownership in American Bitcoin, will maintain control—together with the Trump brothers, they will own 98% of the newly formed entity. Under the structure enabled by the reverse takeover, American Bitcoin aims to leverage Gryphon’s existing infrastructure and access to capital markets.

In comments made at the Crypto Asia conference in Hong Kong, Hut 8 CEO Asher Genoot explained the strategic benefits of pursuing this merger route: “There was a lot more advantages to financing if we had an existing company that already had access to different financing too.” Meanwhile, co-founder Eric Trump is on an Asia tour, exploring potential crypto asset investments in Hong Kong and Tokyo, with a view to expanding the company’s global footprint and potentially enabling publicly traded bitcoin exposure in markets where direct Nasdaq access may be limited.

Since its launch in March 2025, American Bitcoin has proclaimed ambitions to become the “world’s largest, most efficient pure-play bitcoin miner.” The firm blends mining operations with potential crypto purchases, aiming to grow a strategic reserve for investors.

Key Implications

Political Branding Meets Crypto Finance: The Trump family’s deep involvement adds political branding to the move—positioning American Bitcoin not just as another crypto stock, but a unique entity with mainstream attention.
Strategic International Expansion: Exploring Asian markets for crypto assets signals that the company sees global demand for bitcoin exposure—particularly where U.S.-listed stock access is restricted.
Private Control Amid Public Debut: With near-total ownership retained by the Trump brothers and Hut 8, critical decision-making remains closely held, raising governance and control considerations for shareholders.

Source: Reuters

Author

Bernard Lee
Bernard is a social activist dedicated to championing community empowerment, equality, and social justice. With a strong voice on issues affecting grassroots communities, he brings insightful perspectives shaped by on-the-ground advocacy and public engagement. As a columnist for The Ledger Asia, Bernard writes thought-provoking pieces that challenge norms, highlight untold stories, and inspire conversations aimed at building a more inclusive and equitable society.