American Bitcoin, a majority-owned subsidiary of Hut 8 and associated with the Trump family, is set to become a publicly traded entity through a merger with Gryphon Digital Mining.

American Bitcoin, a majority-owned subsidiary of Hut 8 and linked to the Trump family, is set to become a publicly traded entity through a merger with Gryphon Digital Mining, the companies announced Monday.

The stock-for-stock transaction will see American Bitcoin take over Gryphon’s public listing, with the combined company expected to trade on Nasdaq as early as the third quarter of 2025. The new entity will trade under the ticker “ABTC.”

The deal structure is expected to leave American Bitcoin shareholders with approximately 98 percent of the post-merger company, according to a statement by Hut 8.

Hut 8, which already holds a majority stake in American Bitcoin, will continue to hold a beneficial ownership interest while shifting its operational focus toward providing infrastructure services through long-term agreements.

Gryphon, a micro-cap Bitcoin miner currently listed on Nasdaq, will serve as the corporate vehicle for American Bitcoin’s public debut. The new entity’s board of directors will consist of Mike Ho, Asher Genoot, Justin Mateen, and Michael Broukhim, with Ho, Matt Prusak, and Eric Trump making up its executive team.

Eric Trump, who has been prominently promoting American Bitcoin’s vision, remains as chief strategy officer. The company aims to position itself as a national Bitcoin reserve builder and brand-forward miner with a capital-light operational model.

Donald Trump Jr. is also involved with the company, as it was born from American Data Centers Inc., which was founded by the two sons of President Donald Trump. The original launch statement reads:

“American Bitcoin follows the strategic contribution of substantially all of Hut 8's ASIC miners to and in exchange for a majority interest in American Data Centers, Inc., a company formed by a group of investors including Eric Trump and Donald Trump Jr.

In connection with the transaction, American Data Centers, Inc. was subsequently renamed and relaunched as American Bitcoin.”

A Bitcoin reserve company

According to materials circulated by the company, the goal is to accumulate Bitcoin efficiently below market cost and amplify exposure through treasury holdings rather than focusing exclusively on hashrate metrics.

Per American Bitcoin’s presentation, the merger is designed to unlock access to capital markets independent of Hut 8's balance sheet, potentially giving the entity a more direct route to strategic financing.

The combined company’s model focuses on low-cost Bitcoin acquisition and long-term retention. It operates through Hut 8's infrastructure pipeline, which spans over 1,020 megawatts of managed energy capacity and an additional 10,800 megawatts in its development portfolio.

Eric Trump’s continued presence in the crypto sector follows recent activity promoting the TRUMP meme coin, part-owning the blockchain financial services firm World Liberty Financial, and WLFI’s USD1 launch.

Moreover, the involvement of the Trump family in crypto ventures has sparked interest and raised eyebrows in the industry. The potential for the Trump brand to influence American Bitcoin's public image and generate buzz is evident.

However, it remains to be seen how the merger will be received by investors and regulators, especially given the political implications and the family's brand presence.

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