Eric Trump's Bitcoin Bet: American Bitcoin to Go Public via Merger with Gryphon Digital Mining as "ABTC"

American Bitcoin Corp., the Bitcoin mining company backed by Eric Trump, has announced it will go public through a merger with Gryphon Digital Mining

American Bitcoin, the Bitcoin mining venture co-founded by Eric Trump, is set to go public through a merger with Gryphon Digital Mining (NASDAQ:GRPH). The companies made the announcement on Monday.

Once the deal is complete, which is expected in the third quarter of 2025, the combined company will operate under the American Bitcoin name and trade with the ticker “ABTC.” It is expected that American Bitcoin’s current shareholders will own about 98% of the combined company, while Gryphon shareholders will own the remaining 2%.

The leadership team from American Bitcoin will continue to lead the business after the merger.

American Bitcoin, which was launched earlier this year by Hut 8 Corp (TSX: HUT8)(NASDAQ: HUTCF) in partnership with Eric Trump, is aiming to build the “world’s largest, most efficient, and low-cost pure-play Bitcoin (BTC) miner.” The company is also focused on creating a "best-in-class" Strategic Bitcoin Reserve.

“We are excited to announce this merger, which is a significant milestone for American Bitcoin,” said Eric Trump, Co-founder and Chief Strategy Officer of American Bitcoin.

“Our vision for American Bitcoin is to create the most investable Bitcoin accumulation platform in the market. We believe that this merger will provide us with the capital and resources we need to realize our vision and generate significant value for our investors.”

Gryphon is a U.S.-based company that is currently developing a large-scale digital mining operation in the southeastern U.S., with an initial focus on entering both bitcoin mining and AI. The company went public in 2021 through a SPAC merger.

Earlier this year, Dominari Holdings announced a new project called American Data Centers to create computing systems for the AI industry. Trump’s sons, Eric Trump and Donald Trump Jr., are also investors in the project, and Eric is also on the advisory board of Dominari Holdings.

The move comes as the Trump family is increasingly venturing into the crypto sphere. In addition to American Bitcoin, they are also involved in several other ventures, including World Liberty Financial, which is developing a new cryptocurrency, and two memecoins, TRUMP and MELANIA.

The family members are also planning to launch a major crypto initiative in the coming months, aiming to capitalize on the booming interest in digital assets.

Despite the growing presence of the Trump family in crypto, it has also attracted criticism. As Trump gets more involved in crypto, there could be a potential for conflicts of interest, regulatory challenges, and ethical concerns to arise.