Eric Trump is taking his Bitcoin mining company public. The firm, backed by both Eric and his brother Donald Trump Jr., is merging with Gryphon Digital Mining in an all-stock deal.
The new company will be called American Bitcoin, and it’s heading straight for the Nasdaq under the ticker ABTC. The deal is expected to close by the third quarter of 2025, and it gives the Trump sons and existing shareholders control of 98% of the new entity.
According to CNBC, this is just the next step in the Trump family’s growing footprint in crypto. They’ve already pushed out the $TRUMP meme coin—complete with a private dinner with President Donald Trump for top holders. Now they’re digging into the mining side, locking in real infrastructure and access to capital markets.
Eric claims that the US must win the crypto race
Eric, who co-founded the company and serves as chief strategy officer, said the move is part of a larger play to help the US dominate global mining. He made it clear during an earlier interview that other nations aren’t sitting still. “Every single sophisticated country is using their excess power to mine Bitcoin,” Eric said.
While he said he isn’t involved in the White House, he did share what he thinks needs to happen next. “We won the space race. We better win the crypto race,” he told CNBC.
His father, Donald, has been pushing the same message out on the campaign trail. During a closed-door meeting at Mar-a-Lago, Donald told top executives that he wants all future Bitcoin mining to happen on American soil.
Inside the White House, new executive orders have been rolled out to ease up on environmental rules. The orders also support more fossil fuel development, which helps oilfield mining operations that use excess gas to run rigs. Environmental groups are not happy, but miners are taking the win.
Shares of Gryphon spiked over 300% on Monday after the merger news dropped. Hut 8, the energy and AI platform American Bitcoin is being carved out from, also saw its stock go up 10%. Crypto markets, on the other hand, didn’t flinch. Bitcoin stayed around $104,000, unchanged in the past 24 hours.
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