American Bitcoin, a bitcoin mining company backed by U.S. President Donald Trump’s sons, has secured both crypto and traditional investors to support an all-stock merger that will pave the way for trading on the Nasdaq. The move is expected to be completed in early September, according to Asher Genoot, CEO of Hut 8, the firm’s largest shareholder.
The company’s merger with Gryphon Digital Mining is set to close soon, with anchor investors already in place. Once finalized, American Bitcoin will trade under the ticker symbol ABTC.
Co-founder Eric Trump, his brother Donald Trump Jr., and Hut 8 will together control about 98% of the merged entity. Genoot explained that the decision to pursue a merger instead of a direct IPO was strategic, as it provided greater financing options and access to existing funding channels.
Speaking at the Crypto Asia conference in Hong Kong, Genoot confirmed that Eric Trump also attended and would head to Tokyo for an upcoming event hosted by Metaplanet, a Japanese bitcoin treasury firm.
American Bitcoin is actively exploring crypto asset acquisitions in Hong Kong and Japan to expand its global reach, the Financial Times recently reported. Genoot said the company could consider stakes in businesses outside the U.S., giving investors alternative access to publicly traded bitcoin assets. However, he emphasized that discussions are still at an early stage.
Hut 8, once focused on crypto mining, has since shifted its strategy toward energy infrastructure and data centers after launching American Bitcoin with the Trump brothers.
