The Trump family delves deep into the cryptocurrency field, drawing attention with the merger and listing of American Bitcoin with a U.S. Bitcoin mining company
Bitcoin mining company American Bitcoin has announced plans to go public through a merger with Gryphon Digital Mining, Inc., aiming to enter the capital market. The company is co-founded and led by Eric Trump as Chief Strategy Officer, indicating that this initiative continues the Trump family's deep involvement in the cryptocurrency sector.
According to the agreement, American Bitcoin and Gryphon Digital Mining, Inc. will merge through a stock swap. The newly merged company will operate under the "American Bitcoin" brand and plans to list on NASDAQ with the stock code "ABTC". After the merger is completed, existing shareholders of American Bitcoin are expected to hold approximately 98% of the new company, while Gryphon shareholders will hold about 2%.
The board of directors and management team of the new company will be led by the existing core team of American Bitcoin, including key figures such as Mike Ho, Asher Genoot, Justin Mateen, Michael Broukhim, Matt Prusak, and Eric Trump.
In this merger, Hut 8 will continue to serve as the primary infrastructure and operational partner of the new company, providing stable power and digital infrastructure support through a long-term commercial agreement.
Hut 8 CEO Asher Genoot emphasized that this transaction will make American Bitcoin a tool focused on low-cost Bitcoin accumulation while directly obtaining growth capital through the public listing, without relying on Hut 8's balance sheet. In simple terms, American Bitcoin can raise funds through the public listing without affecting Hut 8's finances.
American Bitcoin's vision is to become the largest and most efficient Bitcoin mining company and a strategic Bitcoin reserve platform globally. This move also deepens the Trump family's influence in the cryptocurrency sector.
At the same time, the family is also involved in several related projects, including the DeFi project "World Free Finance" (WLF) and its stablecoin (USD1) settlement scheme.
The merger is expected to be completed in the third quarter of 2025, marking another important milestone for the Trump family in the cryptocurrency industry and further consolidating their strategic positioning in this emerging field.
