Bitcoin News Today: American Bitcoin's Nasdaq Push: Trumps' Strategic Stake in a Digital Gold Rush

American Bitcoin , a cryptocurrency mining venture backed by Donald Trump Jr. and Eric Trump, is preparing to begin trading on the Nasdaq in early September through a merger with Gryphon Digital Mining. The deal, which has been structured as an all-stock merger, aims to allow the firm greater access to capital compared to a traditional initial public offering (IPO) [1]. According to Asher Genoot, CEO of Hut 8—which owns 80% of American Bitcoin—the firm will retain its name and trade under the ticker symbol ABTC [2]. The merger is expected to close shortly, according to Genoot, who spoke at a conference in Hong Kong [3]. The newly formed entity will see Hut 8 , Eric Trump, and Donald Trump Jr. holding a combined 98% stake [4]. Gemini co-founders Tyler and Cameron Winklevoss have also been identified as anchor investors in the listing [5]. Genoot stated that the merger allows American Bitcoin to leverage existing financing relationships, which is expected to be advantageous for future growth and operational flexibility [6]. The company’s strategy involves both mining and purchasing Bitcoin depending on market conditions, allowing it to adapt to varying returns [7]. The firm’s ambitions include becoming “the world’s largest, most efficient pure-play bitcoin miner” [8]. American Bitcoin was launched in March 2025 and has been exploring international expansion opportunities, with a particular interest in acquiring crypto assets in Hong Kong and Japan to build its global footprint [9]. The move follows a broader trend of increased regulatory support for cryptocurrency in the U.S., which has seen accelerated legislation under President Donald Trump [10]. Hut 8, which is based in Miami, has shifted its focus toward energy infrastructure and data centers since partnering with the Trump family to form American Bitcoin [11]. The company has also announced a 1.53 gigawatt development pipeline across four locations in three states to support its mining operations [12]. In related financial developments, shares of Gryphon Digital Mining and Hut 8 experienced notable gains following the Reuters report on the planned merger [13]. Analysts and financial institutions have taken note of the transaction, with Benchmark reaffirming its "buy" rating on Hut 8 and raising its price target [14]. Despite the firm’s high-profile backing and strategic financial moves, Genoot emphasized that American Bitcoin’s business operations are independent of government influence and that the Trump siblings have primarily contributed to strategic initiatives such as mining, site development, and treasury strategy [15]. The company’s entry into the Nasdaq market represents a significant milestone for the cryptocurrency sector, particularly given the political affiliations of its co-founders and the broader political and economic context in the U.S. [16]. Source: [1] American Bitcoin, backed by Trump sons, aims to start ... [2] American Bitcoin, backed by Trump sons, aims to start trading ... [3] Gryphon and Hut 8 surge after Reuters report of American ... [4] Trump-linked Hut 8 spinout American Bitcoin targets ... [5] Trump sons-backed 'American Bitcoin' eyes Nasdaq debut ... [6] Bitcoin trend reversal to $118K or another drop to $105K [7] Bitcoin Bull Market Guide: When to Hold, Trim, or Re-Enter ...