Trump-Backed American Bitcoin Set to Go Public in 2025

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American Bitcoin Corp., the Bitcoin mining company backed by Eric Trump, has announced it will go public through a merger with Gryphon Digital Mining, a company already trading on the Nasdaq. Once the deal is complete, the combined company will operate under the American Bitcoin name and trade with the ticker “ABTC.”

“Our vision for American Bitcoin is to create the most investable Bitcoin accumulation platform in the market,” said Eric Trump, Co-founder and Chief Strategy Officer of American Bitcoin.

Gryphon is a U.S.-based company focused on entering both bitcoin mining and AI. If all goes as planned, the transaction could be finalized by Q3 2025, with American Bitcoin’s current shareholders expected to own around 98% of the combined company. The leadership team from American Bitcoin will continue to lead the business after the merger.

Trump Family Expands Crypto Ambitions

The latest move shows how Trump’s family is increasingly leaning towards crypto. After trying with projects like World Liberty Financial and memecoins like TRUMP and MELANIA, they have now turned to large-scale Bitcoin mining and building strategic Bitcoin reserves.

Hut 8 Corp., which launched American Bitcoin earlier this year in partnership with Eric Trump, will also benefit from the merger. Their goal is to build the “world’s largest, most efficient pure-play Bitcoin miner”, while also building a strong Strategic Bitcoin Reserve. 

CEO of Hut 8, Asher Genoot, believes that the move will unlock capital for further growth, while keeping the company’s finances strong, and will also give investors a chance to profit from Bitcoin’s long-term potential.

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

Although Trump has promised to make the U.S. the crypto capital of the planet, criticisms are increasing as Trump is getting more involved in crypto, which could lead to conflicts of interest, regulatory challenges, and ethical concerns.