It didn’t take long for American Bitcoin Corp. (NASDAQ: ABTC) to turn heads on Wall Street this morning, as the Trump-brothers backed Bitcoin mining company begin trading on the Nasdaq under the ticker “ABTC.”
The company–a merger deal between energy infrastructure firm Hut 8 and the Trump-brothers American Data Centers–went live on public markets following the completion of its stock-for-stock merger with Gryphon Digital Mining.
ABTC climbed over 80% in early morning hours, leading to multiple trading halts on the stock, per Nasdaq.
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American Bitcoin aims to be an institutional-grade bitcoin accumulation platform through both purchases of bitcoin and its bitcoin mining business. The firm bought 1,726 bitcoin in Q2 2025 after raising $215 million in private placements.
“Today, American Bitcoin becomes a premier public vehicle for investors seeking scalable, singular exposure to the defining asset class of our time,” said Eric Trump, Co-founder and Chief Strategy Officer, in the company release.
Through its partnership with Hut 8 (HUT), ABTC hosts ASICs previously owned by Hut 8 at Hut 8 facilities. As of Q2’s end, American Bitcoin had 9.3 EH/s online, with another ~14-15 EH/s soon to come from a purchase option for direct-to-chip liquid-cooled, server-rack Antminers that Bitmain deployed with Hut 8 at its Vega, Texas site. American Bitcoin says that splitting infrastructure, operations, and hardware ownership drives SG&A efficiency and leaves more capital for the company’s bitcoin accumulation.
Update (September 3, 2025): Updated headline and amended pre-market hour stock trading information.
Update (10:43 am ET, September 3, 2025): Updated headline and trading information after market opened.
