Trump Family-Backed American Bitcoin to Go Public on Nasdaq as ABTC, Retaining 98% Ownership

American Bitcoin, a Bitcoin mining company backed by the Trump family, is set to go public through a merger with Gryphon Digital Mining. The merger, announced on May 12, 2025, will result in the combined entity trading on Nasdaq under the ticker symbol 'ABTC'.

The transaction is structured as a stock-for-stock merger, with existing American Bitcoin shareholders expected to retain approximately 98% ownership of the new company. Gryphon's shareholders will own the remaining 2%. Hut 8, which holds a majority stake in American Bitcoin, will continue to provide infrastructure support.

Eric Trump, serving as Chief Strategy Officer, and Donald Trump Jr. are involved with American Bitcoin, which was formed from American Data Centers Inc. The company aims to build a national Bitcoin reserve and focus on efficient Bitcoin accumulation using Hut 8's infrastructure.

The merger aims to position American Bitcoin as a major public Bitcoin mining entity, leveraging Hut 8's operational capabilities and infrastructure. The deal is expected to close as early as the third quarter of 2025, pending necessary approvals. At the time of the announcement, Bitcoin was trading at around $104,000.

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