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Eric Trump’s bitcoin mining company, American Bitcoin, is set to go public through a merger with Gryphon Digital Mining.
Following the announcement, Gryphon’s shares surged 285 percent to $2 and have risen nearly 400 percent year-to-date. The merged entity will retain the American Bitcoin name and be managed by its current leadership, with plans to list on the Nasdaq under the ticker “ABTC.”
Eric Trump, co-founder and Chief Strategy Officer of American Bitcoin, emphasized the company’s mission to establish a scalable and long-term value-creating bitcoin investment platform.
“Our vision for American Bitcoin is to create the most investable Bitcoin accumulation platform in the market,” he said in a statement.
American Bitcoin was founded earlier in the year in collaboration with Hut 8, whose CEO Asher Genoot also serves on American Bitcoin’s board. Genoot highlighted that going public is a crucial move for accelerating business growth.
Associated Press
Hut 8 shares gained 10 percent following the news but are still down 25 percent for the year. The deal is expected to close in the third quarter of 2025.
President Trump has increasingly aligned himself with the cryptocurrency sector, backing ventures such as the Trump-themed meme coin “TRUMP” and the NFT trading card series bearing his likeness. While Trump once dismissed Bitcoin as a scam, he has since shifted his stance, voicing support for crypto innovation and calling for a regulatory environment that encourages digital asset growth. He has also criticized federal agencies for what he describes as overreach.
This is developing news and will be updated as more information is available.
