Trump's second son personally stands on stage: Bitcoin mining company plans to go public in September

Original

Zhao Hao

August 28, 2025 19:53
The Bitcoin mining company American Bitcoin, supported by the two sons of US President Trump, is expected to be listed on NASDAQ in early September, with the stock code "ABTC". Written by Zhao Hao.
American Bitcoin, a bitcoin miner backed by US President Donald Trump's two sons, has locked up cryptocurrencies and traditional investors in its M&A deals, and will soon list on the NASDAQ. Asher Genoot, CEO of bitcoin miner Hut 8, said in an interview that the merger deal between American Bitcoin and shell company Gryphon Digital Mining is expected to land soon, with the goal of listing for trading in early September. Hut 8 holds an 80% stake in American Bitcoin. Genoot said the anchor investors in the listing have been finalised. The new company will continue to trade under the ticker symbol "American Bitcoin" under the ticker symbol "American Bitcoin". As of press time, Hut 8 U.S. stocks rose nearly 3% pre-market, and the stock closed at its highest level since January this year on Wednesday; Gryphon Digital Mining is up about 12% pre-market and up more than 200% year-to-date. The Associated Press previously reported that in May this year, when Hut 8 officially announced that American Bitcoin would merge with Gryphon in a full stock swap, the latter's stock price soared 173% in a single day. Genoot recently mentioned that Trump's two sons, Eric Trump and Donald Trump Jr., as co-founders of American Bitcoin, and Hut 8, will hold a combined 98% stake in the new entity. "Rather than going public directly through an IPO, we think it's a bit more advantageous to be able to raise money with an existing company with multiple funding channels," Genoot said. He also revealed that Eric Trump will fly to Tokyo, Japan, this weekend to attend an event for Metaplanet, a Japanese "bitcoin reserve" concept stock company. Genoot said that American Bitcoin could take a stake in a company outside the U.S., providing some investors who are unable to buy Nasdaq-listed shares with a publicly traded Bitcoin asset option, "It's very preliminary at this time, and we haven't committed to any targets." He added that Hut 8 was also a crypto miner in the past, but has shifted its focus to energy infrastructure and data centers after founding American Bitcoin with Trump's two sons.
September and October are golden months, I will always stick to this order, and will not change my trading logic and plan!!!