Eric Trump’s American Bitcoin Set to Go Public Amid Rising Crypto Industry
Date: May 12, 2025
Author: MacKenzie Sigalos
Time: 10:18 AM EDT (Updated: 3:52 PM EDT)
American Bitcoin, a cryptocurrency mining firm co-founded by Eric Trump and his brother Donald Trump Jr., is poised to go public in a high-profile move that continues their family’s foray into the crypto marketplace. The company intends to list on the Nasdaq through an all-stock merger with Gryphon Digital Mining, a strategic move that reflects the Trumps’ ambition in the burgeoning world of cryptocurrency.
Key Aspects of the Go Public Strategy
Once the merger is finalized, expected by the third quarter of 2025, the new entity will operate under the ticker symbol "ABTC." Notably, existing shareholders of American Bitcoin, which includes Eric and Donald Trump Jr., are projected to retain a substantial 98% ownership of the merged company, signaling a tight familial control over the venture.
Shares of Gryphon Digital Mining surged over 300% on the day of the announcement, demonstrating strong market interest in the union of these two companies. Eric Trump, who serves as co-founder and chief strategy officer, stated that the initiative is part of a broader strategy to solidify the United States’ leadership within the global bitcoin mining sector.
Promoting U.S. Dominance in Crypto
In recent interviews, Eric Trump has expressed the importance of U.S. leadership in bitcoin mining, emphasizing, “We won the space race. We better win the crypto race.” This declaration mirrors sentiments echoed by his father, former President Donald Trump, who during his administration emphasized the need for U.S.-based bitcoin mining and took steps in that direction through various executive orders aimed at loosening environmental regulations in favor of more fossil fuel development. Such policies are favorable for mining operations, although they are met with significant criticism regarding their environmental impact.
On the campaign trail, the former president vowed to support initiatives that would ensure all future bitcoin mining occurs on American soil, reinforcing a nationalistic approach to emerging technologies.
The Trump Family’s Growing Crypto Influence
The move to go public with American Bitcoin is just one part of a larger trend involving the Trump family’s involvement in cryptocurrency. The family previously introduced the controversial $TRUMP meme coin, which incentivizes top holders with exclusive opportunities, including a dinner with the former president. These developments exemplify the family’s expanding crypto empire, reinforcing their commitment to positioning themselves prominently in this volatile yet burgeoning market.
Eric Trump has also distanced himself from the political implications of his family’s strategy, clarifying that his partnership in the business does not directly tie into his father’s administration. Instead, he is focusing on fostering a competitive edge for the United States in the crypto sector.
Market Response and Future Outlook
As American Bitcoin prepares for public trading, the broader cryptocurrency market remains relatively stable, with Bitcoin holding steady around $104,000. The energy infrastructure platform Hut 8, from which American Bitcoin is being carved out, also saw shares increase by 10% following the announcement. This strategic separation from Hut 8’s diverse operations is aimed at unlocking capital and refining focus on bitcoin mining.
As the cryptocurrency landscape continues to evolve, the implications of the Trump family’s entry into the public market through American Bitcoin could reshape perceptions and investments in the digital currency space.
In conclusion, Eric Trump’s American Bitcoin set to go public not only marks a significant milestone for the company but also adds to the dialogue surrounding the intersection of cryptocurrency, energy policies, and the evolving regulatory environment in the United States.
Share this article:
