A Reuters report this morning revealed that American Bitcoin, the bitcoin miner backed by Eric Trump and Donald Trump Jr., could begin trading on the Nasdaq under the ticker ABTC as early as September following its all-stock merger with Gryphon Digital Mining (GRYP).
Asher Genoot, CEO of Hut 8 (HUT), the parent company of American Bitcoin, said the merger is expected to close shortly, positioning the combined firm to access broader financing options than a traditional IPO would allow. Post-closing, Hut 8, American Bitcoin, and their employees will own 98% of the new entity, with Gemini co-founders Tyler and Cameron Winklevoss included in the list of anchor investors.
Genoot described the deal as a strategic move to leverage existing financing relationships, telling Reuters that “instead of going public directly via IPO, we thought that there was a lot more advantages to financing if we had an existing company that already had access to different financing too.”
Launched in March 2025 by Hut 8 alongside the Trump brothers, American Bitcoin will combine mining operations with treasury purchases as it pursues its goal of becoming “the world’s largest, most efficient pure-play bitcoin miner.” Hut 8 will lease data-center capacity to support ABTC’s mining operations. Recently the company announced a1.53 GW development pipeline across four different locations in three states.
Read More: Trump-tied American Bitcoin bought 1,726 bitcoin in Q2
At time of publication, GRYP is up 14% during pre-market hours and HUT is up 3.5%.
