American Bitcoin Corp., a mining firm backed by Eric Trump and Donald Trump Jr. and majority-owned by Hut 8, has entered the Nasdaq through a merger with Gryphon Digital Mining. The transaction, announced in May 2025 and finalized on September 3, 2025, was structured as a stock-for-stock deal. Pre-merger shareholders of American Bitcoin retained approximately 98% of the combined entity.
Following the merger, the company began trading under the ticker ABTC. It has since filed for an at-the-market equity offering of up to $2.1 billion to fund Bitcoin purchases, mining expansion, and hardware procurement. The firm focuses on both mining and open-market acquisitions to grow its holdings, which increased from a few hundred Bitcoin before the merger to over 3,400 by late September 2025 and over 5,000 by early 2026.
The company's stock performance has been volatile, with intraday gains of 60–100% on its debut followed by a decline of more than 75% from its peak. While the firm reports growth in mining revenue, it also faces operating losses linked to Bitcoin price fluctuations. The current corporate structure leaves public shareholders with limited influence, as Hut 8 remains the majority owner.
