American Bitcoin, the mining company partly owned by Donald Trump Jr. and Eric Trump, is preparing to go public on the Nasdaq in September, Reuters reported on Aug. 28.
The firm, launched in March, is 80% owned by Toronto-based Hut 8, one of North America’s largest crypto miners.
The Trump brothers collectively own the remaining 20%, tying the venture to one of the most high-profile political families in the U.S.
Merger clears path to listing
To enable its debut, American Bitcoin is finalizing a merger with Gryphon Digital Mining.
The deal is expected to leave current shareholders with about 98% of the combined company, providing continuity as the firm enters public markets.
American Bitcoin raised $220 million from accredited investors earlier this year, along with $10 million worth of Bitcoin contributed directly to its treasury, to expand operations and strengthen reserves.
The funding round was aimed at scaling both its mining capacity and its ability to accumulate Bitcoin as a strategic reserve.
Expanding reach and political ties
Hut 8 CEO Asher Genoot, speaking at the Bitcoin Asia conference in Hong Kong, said the company may pursue international investments to broaden access for investors who cannot directly hold Nasdaq-listed shares.
Such partnerships could allow exposure to Bitcoin-linked securities through regulated entities in other markets, where directly accessing crypto remains challenging.
The move comes as the Trump family deepens its ties to the crypto sector. Trump Media and Technology Group, associated with President Donald Trump, recently announced plans to issue crypto ETFs and launch a joint venture with Crypto.com that would also go public through a special purpose acquisition vehicle.
For Hut 8, the Nasdaq listing represents another lever to establish itself as a dominant mining firm as competition rises and energy costs remain volatile.
Meanwhile, for the Trump brothers, the deal provides a foothold in the digital asset economy at a moment when Bitcoin adoption and political debate over crypto are both intensifying.
Based on CryptoSlate data, Bitcoin was trading at around $112,500 as of press time.
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Source: https://cryptoslate.com/trump-backed-bitcoin-mining-firm-to-go-public-on-nasdaq-next-month/
