Eric Trump's Bitcoin Mining Firm to Go Public
Eric Trump’s cryptocurrency mining venture, American Bitcoin, is set to go public through a merger with Gryphon Digital Mining. The stock-for-stock transaction will result in the combined entity operating under the American Bitcoin name and trading on Nasdaq under the ticker symbol "ABTC." Eric Trump will continue as Chief Strategy Officer, while the current leadership team will remain in place. The merger is expected to close by the third quarter of 2025, pending shareholder and regulatory approvals.
American Bitcoin was launched earlier this year in partnership with Hut 8 Corp., which holds an 80% stake in the company. The Trump brothers, Eric and Donald Jr., own the remaining 20% through their firm, American Data Centers . The company's mission is to build the world's largest, most efficient pure-play Bitcoin miner, focusing on large-scale mining and strategic Bitcoin reserve development. The merger with Gryphon Digital Mining is seen as a strategic move to accelerate growth and provide direct access to public capital markets.
The announcement has stirred political discourse, given the Trump family's increasing involvement in the cryptocurrency sector. Critics have raised concerns about potential conflicts of interest, especially as President Donald Trump has expressed support for a crypto-friendly regulatory environment. Despite the controversy, the merger signifies a significant step in the convergence of traditional finance and digital assets, positioning American Bitcoin as a notable player in the North American Bitcoin mining industry .
