New York, September 3, 2025 — American Bitcoin Corp., a bitcoin mining company co-founded by Eric Trump and Donald Trump Jr., made a sensational debut on Nasdaq, sending the value of their combined 20% stake soaring to more than US$1.5 billion at market close. Earlier in the day, share prices surged as high as $14.52, briefly elevating their holdings’ value to US$2.6 billion, before settling at $8.04, up 16.5% by end-of-day trading.
Backed by mining firm Hut 8, which retained majority control through a merger with Gryphon Digital Mining, American Bitcoin is pursuing a dual strategy of bitcoin mining and treasury accumulation. The newly post-listed firm plans to raise US$2.1 billion via share sales to finance further bitcoin purchases and expand its operations.
Crypto: A Core Business for the Trumps
Eric Trump has described cryptocurrency as accounting for approximately 50% of his business portfolio, reflecting the family’s determined pivot from real estate to digital assets. He positioned himself as both a spokesperson and strategist for American Bitcoin, citing the industry’s communication hurdles and his role in navigating those transitions.
This steep rise in value has once again brought ethics questions to the fore. Critics—including Democratic lawmakers and ethics watchdogs—point to a potential conflict as the president has concurrently supported crypto-friendly regulations. Eric Trump has strongly rejected such accusations, insisting that his father is not involved in their business ventures.
Source: Reuters
