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yesterday

American Bitcoin Sets Early-September Nasdaq Debut Via Gryphon Merger

A merger with Gryphon provides a faster listing route, concentrating ownership with Hut 8 alongside the Trump brothers.

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
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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

  • An all-stock combination with Gryphon is expected to finalize shortly, with trading under ticker ABTC targeted for early September pending remaining approvals.
  • Hut 8 is set to hold about 80% while Eric Trump and Donald Trump Jr. collectively near 18–20%, leaving the trio with roughly 98% of the public company.
  • Anchor shareholders include Tyler and Cameron Winklevoss, who invested using bitcoin rather than cash, according to Hut 8’s Asher Genoot.
  • Hut 8 has pivoted toward energy infrastructure and data centers and will lease facilities and provide operations support to American Bitcoin.
  • The company aims to build a bitcoin treasury through mining and purchases and is evaluating stakes in Hong Kong and Japan, as critics question potential conflicts tied to the family’s political prominence.