Trump Family’s American Bitcoin Set to Go Public Following Merger with Gryphon Digital Mining
By Michael Barclay
Published: Yesterday | Updated: Yesterday
In a significant development for the cryptocurrency sector, American Bitcoin—a crypto mining venture led by Eric Trump and Donald Trump Jr.—is positioning itself for a public debut on the Nasdaq through a merger with Gryphon Digital Mining. This stock-for-stock transaction is expected to enable American Bitcoin to access growth capital independently of its parent company, Hut 8 Mining Corp., by the third quarter of 2025. ### Details of the Merger
Hut 8, a data-center operator and significant stakeholder in American Bitcoin, is actively involved in the strategic maneuver. According to Hut 8’s CEO, Asher Genoot, the merger marks a critical juncture that will facilitate American Bitcoin’s expansion into the public market. “By taking American Bitcoin public, we expect to unlock direct access to dedicated growth capital independent of Hut 8’s balance sheet,” Genoot stated in a press release.
American Bitcoin currently has a share distribution where Hut 8 holds 80% of its ownership, while the Trump brothers collectively possess the remaining 20%. After the merger, American Bitcoin shareholders will control a remarkable 98% of the new shares in the combined entity.
Strategic Positioning in Cryptocurrency Mining
As the United States solidifies its leadership in the cryptocurrency mining industry, both Eric Trump and Donald Trump have emphasized their ambition for the U.S. to be the “crypto capital of the planet.” Eric Trump reiterated this goal during a recent interview, asserting, “We won the space race. We better win the crypto race.” American Bitcoin aims to capitalize on this momentum, contributing to an industry that has shown exponential growth in recent years.
Context of Regulatory Challenges
This development occurs amid heightened scrutiny of cryptocurrency regulations from government bodies. The Trump family’s ventures into the crypto space have recently sparked attention, particularly regarding World Liberty Financial, which proposed a federal framework for stablecoins known as the Genius Act. However, this proposed legislation faced obstacles, leading to its rejection by Congress. Some lawmakers expressed concerns about the implications of the Trump family’s various crypto investments, including a new meme coin, $TRUMP, which drew public interest after promising exclusive experiences for top holders.
In addition, a substantial investment from an Abu Dhabi-backed fund was announced, aimed at using the Trump family’s stablecoin to facilitate a $2 billion investment in the cryptocurrency exchange Binance.
Market Response
The announcement of the merger had an immediate positive impact on market perceptions of Gryphon Digital Mining, which saw its stock surge by 323% at market opening on May 12. Similarly, Hut 8 shares rose by as much as 16% during the same trading session, reflecting investor enthusiasm for the upcoming merger and the potential of American Bitcoin as a publicly listed entity.
As the cryptocurrency landscape continues to evolve, the forthcoming public listing of American Bitcoin signifies an important intersection of politics and emerging technology, highlighting the Trump family’s commitment to positioning itself as a prominent player in the decentralized finance space.
For ongoing updates and insights into the cryptocurrency market, sign up for our daily newsletter, offering a comprehensive overview of the global economy every weekday morning.
Share this article:
