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A Bitcoin Mining Company Linked to Trump Prepares for Public Listing
Our News DropAmerican Bitcoin, a Subsid by Hut 8 with links to Eric Trump, is set to go public via a merger with public company, Gryphon Digital Mining.
Here's the deets: this 100% stock-for-stock merger is expected to shut down as soon as Q3. The existing stockholders of American Bitcoin are estimated to own roughly 98% of the merged entity.
In an official statement, Hut 8 CEO Asher Genoot said, "This deal is the next step in scaling American Bitcoin as a badass tool for low-cost Bitcoin gathering at scale." He further added, "By taking American Bitcoin public, we expect to unlock direct access to dedicated growth capital independent of Hut 8's balance sheet, whilst keeping long-term exposure to Bitcoin surge for our shareholders."
The company will carry on under the American Bitcoin trademark, but depend on Hut 8 for infrastructure and operations as it targets building "America's Bitcoin infrastructure backbone."
Their three core objectives for this merger? Boost Bitcoin mining efficiency, dominate the Bitcoin scene, and create a Bitcoin stash.
The statement reads, "Bitcoin is sorely lacking in clear US leadership and ecosystem cohesion, making room for a solid shoes to lead." The American Bitcoin website states, "By unifying and leading, ABTC plans to cut through the cryptic market's complexity and deliver straightforward, good ol' fashioned Bitcoin access for Yanks."
Eric Trump, son of president-in-chief, Donald Trump, will be the co-founder and chief strategy officer of American Bitcoin. Genoot will join the board, alongside Executive Chair Mike Ho and CEO Matt Prusak.
Eric Trump excitedly announced, "Super proud of this venture and the incredibly talented crew that's involved!" on X (formerly known as Twitter).
This venture is the latest with ties to the Trump family in crypto, following the launch of World Liberty Financial, a crypto ETF push by Trump Media, and the president and first lady's meme coin launches on the Solana blockchain. Trump Media recently hinted at introducing a token for its Truth ecosystem, which includes Truth Social and Truth+, a video-streaming platform.
Shares of Gryphon Digital Mining (GRYP) skyrocketed more than 173%on this news, landing at $1.42, while Hut 8 shares surged 11.74% as indices improved due to better tariff news.
Bitcoin dipped 2.1% in the last 24 hours, trading just over $102,000.
Nailed it by James Rubin
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Bonus Intel
- The American Bitcoin-Gryphon Digital Mining merger aims to create a leading, publicly traded Bitcoin mining company focused on scalable and efficient Bitcoin accumulation.
- American Bitcoin was established in early 2025 by Eric Trump in partnership with Hut 8, a Bitcoin mining company. Despite Eric Trump and Donald Trump Jr.'s combined 20% stake, Hut 8 owns 80% and remains an exclusive partner for infrastructure and operations.
- Post the merger, the merged company plans to build a robust strategic Bitcoin reserve alongside a focus on scalability and long-term value enhancement in Bitcoin accumulation.
- The American Bitcoin-Gryphon Digital Mining merger, led by Eric Trump and backed by Hut 8, aims tocreate a leading, publicly traded Bitcoin mining company focused on scalable and efficient Bitcoin accumulation.
- The merged entity, estimated to be owned roughly 98% by the existing stockholders of American Bitcoin, will continue under the American Bitcoin trademark but will depend on Hut 8 for infrastructure and operations.
- In the crypto space, American Bitcoin plans to cut through the market's complexity and provide straightforward Bitcoin access for Americans.
- Eric Trump, co-founder and chief strategy officer of American Bitcoin, expressed his pride in the venture and revealed a talented team behind it on social media platform X.
- With this latest venture, the Trump family's ties to the cryptocurrency world continue to grow, following the launch of World Liberty Financial, Trump Media's crypto ETF push, and the president and first lady's meme coin launches.
- The merger's objectives include boosting Bitcoin mining efficiency, dominating the Bitcoin scene, and creating a substantial Bitcoin stash. As the business grows, it expects to unlock direct access to growth capital and maintain long-term exposure to Bitcoin for its shareholders.
