Trump-Supported American Bitcoin Aims for September Nasdaq Launch

Trump-Backed American Bitcoin Aims for September Nasdaq Listing

American Bitcoin, the Bitcoin (BTC $108,506.60) mining firm 20% owned by Donald Trump Jr. and Eric Trump, is preparing for a Nasdaq debut in September, Hut 8 CEO Asher Genoot confirmed. Hut 8 owns the remaining 80% stake in the company.

The firm is finalizing a merger with Gryphon Digital Mining, a move that will clear the path for its public listing. Post-merger, current shareholders are expected to retain approximately 98% ownership of the combined company, Reuters reported.

Launched in March, American Bitcoin has focused on building its Bitcoin reserves through both mining and direct purchases. The Trump family’s involvement gives the company a high-profile political dimension.

The listing follows similar activity from Trump Media and Technology Group (DJT), which recently announced plans to go public via a SPAC combination with Crypto.com.

American Bitcoin recently raised $220 million from accredited investors, supplemented by $10 million in Bitcoin contributions, to expand infrastructure and strengthen its treasury ahead of the Nasdaq debut.

At the Bitcoin Asia conference in Hong Kong, Genoot suggested the company may also invest in international ventures, offering regulated Bitcoin exposure to investors outside the U.S.

The Nasdaq listing underscores the company’s confidence that public markets remain interested in direct exposure to crypto miners, despite rising competition and fluctuating energy costs. The September debut will position American Bitcoin among a select group of miners seeking institutional investment via public markets.

For Hut 8, the move strengthens its position in North American Bitcoin mining, while giving the Trump family a foothold in a company tied directly to Bitcoin’s growth trajectory.

Following the announcement, Hut 8 shares gained 0.6% to $26.50.