Bitcoin News Today: Trump Ties and Global Ambitions Fuel Nasdaq Debut of Bitcoin Miner

American Bitcoin , a bitcoin mining company backed by Donald Trump’s sons, is set to begin trading on the Nasdaq in early September following a merger with Gryphon Digital Mining. The deal, structured as an all-stock transaction, has secured both crypto-focused and traditional institutional investors, according to Asher Genoot, CEO of Hut 8 , which owns 80% of American Bitcoin. The newly formed entity will retain the name American Bitcoin and trade under the ticker ABTC. The company’s co-founders, Eric Trump and Donald Trump Jr., along with Hut 8, will control a combined 98% of the entity [1].

The decision to pursue a merger instead of a traditional initial public offering (IPO) was driven by the strategic advantage of leveraging an existing company with access to established capital markets, Genoot explained during an interview at the Crypto Asia conference in Hong Kong. This approach is intended to strengthen the firm’s financing capabilities, particularly as it seeks to expand beyond the United States. American Bitcoin has been evaluating acquisition opportunities in Hong Kong and Japan to build a more global footprint, according to reports from the Financial Times [3].

Eric Trump is currently in Hong Kong and is scheduled to travel to Tokyo for an event related to Metaplanet, a Japanese bitcoin treasury firm. Genoot confirmed the company is exploring investments outside the U.S. to provide investors with exposure to publicly listed bitcoin assets in markets where direct investment in Nasdaq-listed crypto stocks is restricted. However, he noted that the firm is still in the early stages of its global expansion and has not made any definitive commitments [1].

American Bitcoin emerged from Hut 8’s strategic pivot away from pure crypto mining toward energy infrastructure and data centers. The new entity, formed in partnership with the Trump brothers, is positioning itself as a global bitcoin miner with ambitions to scale through acquisitions and partnerships. The structure mirrors the growth strategies of other major U.S.-listed bitcoin firms, which use equity financing and mergers to accelerate expansion. Genoot emphasized the firm’s objective to create a vehicle that appeals to both institutional and retail investors seeking exposure to bitcoin through regulated exchanges [3].

Anchor shareholders have already been secured to support the listing, and the merger with Gryphon Digital Mining is expected to be finalized shortly. The company’s focus on expanding access to bitcoin-linked assets underscores a growing trend in the crypto industry to cater to diverse investor bases while navigating regulatory and market restrictions. As the firm prepares for its Nasdaq debut, it aims to build a publicly traded platform that supports further global expansion and asset diversification [1].

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