Particle.news
Download on the App Store
9 ARTICLES
·
3h ago

American Bitcoin Backed by Trump Sons Finalizes Anchor Backers, Targets Early-September Nasdaq Debut

The Hut 8–controlled venture is pursuing an all-stock merger with Gryphon to list as ABTC.

Donald Trump Jr. and Eric Trump gesture outside the Nasdaq building after ringing the opening bell to celebrate the closing of ALT5’s $1.5 billion offering and adoption of its $WLFI Treasury Strategy at the Nasdaq Market, in New York City, U.S., August 13, 2025. REUTERS/Eduardo Munoz/File Photo
Image
Asher Genoot, CEO of Hut 8, which owns 98% of American Bitcoin, along with Eric Trump and Donald Trump Jr., speaks at a bitcoin conference in Hong Kong on August 28.
Trump backed bitcoin miner american bitcoin targets september nasdaq debut

Overview

  • Hut 8 CEO Asher Genoot said the Gryphon merger is set to be finalized shortly, paving the way for trading to start in early September.
  • The newly public company will retain the American Bitcoin name and is expected to trade on Nasdaq under the ticker ABTC.
  • Ownership will be tightly held after the merger, with Eric Trump, Donald Trump Jr. and Hut 8 together controlling about 98% of the combined entity.
  • Hut 8 holds an 80% stake in American Bitcoin and will lease data centers to the miner as part of its pivot toward energy infrastructure and hosting.
  • Anchor shareholders have been locked in, with Tyler and Cameron Winklevoss among the backers, while the company explores deals in Hong Kong and Japan and plans to accumulate bitcoin through both mining and purchases.