Trump-backed American Bitcoin set to debut on Nasdaq under ticker ABTC

American Bitcoin, a cryptocurrency mining company backed by Donald Trump Jr. and Eric Trump, is set to merge with Gryphon Digital Mining in an all-stock transaction. The goal is to list on Nasdaq at the beginning of September, according to Asher Genoot, CEO of Hut 8, which holds an 80% stake in the company.

The merger, currently in its final stage, will allow the new entity to operate under the name American Bitcoin and trade under the ticker symbol ABTC. According to available information, anchor shareholders have already been secured, including Cameron and Tyler Winklevoss, co-founders of the Gemini crypto exchange.

Once completed, Donald Trump Jr., Eric Trump, and Hut 8 will jointly own approximately 98% of the company’s shares. American Bitcoin chose this path instead of pursuing an initial public offering (IPO), considering that merging with an existing firm provides easier access to diversified funding sources.

Previously unlisted, American Bitcoin aims to expand operations and attract additional capital by accessing regulated financial markets.