A new contender in the cryptocurrency mining world is set to make waves as American Bitcoin, a miner partly owned by Donald Trump Jr. and Eric Trump, eyes a September listing on Nasdaq. With the backing of Hut 8, which holds a substantial 80% stake, the company is embarking on this endeavor following a merger with Gryphon Digital Mining. This anticipated public debut marks a bold step into the market, potentially reshaping the landscape for crypto investors and enthusiasts alike.
A Trump-Backed Entry into the Crypto Arena
American Bitcoin, which launched in March 2025, has been crafting an ambitious strategy to bolster its bitcoin reserves. The company is not solely relying on mining operations; it’s also actively purchasing bitcoin to fortify its balance sheet. This multifaceted approach underscores the company’s intent to establish a robust presence in the industry. Asher Genoot, CEO of Hut 8, shared insights into the company’s trajectory at the Bitcoin Asia conference in Hong Kong, revealing plans to potentially venture into international markets. This maneuver could unlock access to bitcoin-linked securities for investors who face hurdles purchasing Nasdaq-listed stocks directly. As explored in our recent coverage of Bitcoin miner Hut 8’s 1.5GW expansion plans, the company’s strategic moves are closely watched by the industry.
The involvement of the Trump family adds a layer of intrigue and political significance to the venture. With the recent announcement that Trump Media and Technology Group plans to go public via a special purpose acquisition vehicle (SPAC) in collaboration with Crypto.com, the synergy between politics and crypto continues to deepen, sparking conversations about the future of such alliances.
Capital Infusion and Strategic Expansion
American Bitcoin recently secured $220 million from accredited investors, alongside $10 million worth of bitcoin, to fuel its infrastructural expansion and treasury fortification. This infusion of capital comes at a crucial time as the company prepares to transition into the life of a publicly traded entity. The funds are earmarked not only to enhance existing operations but also to explore potential stakes in businesses beyond U.S. borders. “We are exploring partnerships that could offer foreign investors a regulated pathway to engage with bitcoin-linked securities,” Genoot explained, highlighting the company’s strategic foresight.
The anticipated Nasdaq debut positions American Bitcoin among a select group of crypto miners seeking public listings as a means to attract institutional investment. However, the timing is critical—competition within the sector is fierce, and energy costs remain volatile, presenting both challenges and opportunities. The planned listing is a calculated gamble on the appetite of public markets for direct exposure to crypto mining ventures. This follows a pattern of growth and expansion, as detailed in our article on Hut 8’s recent stock rise following their expansion announcement.
Implications for the Crypto Market
Hut 8’s involvement with American Bitcoin not only elevates its own standing as a formidable North American mining entity but also strengthens its strategic alliances. With shares recently trading at $26.5, up 0.6%, the company’s market movements are being closely monitored by investors eyeing the potential ripple effects of the Nasdaq listing.
For the Trump brothers, this venture represents a strategic foothold in a burgeoning industry that is inextricably linked to the growth trajectory of bitcoin itself. The intertwining of political influence and cryptocurrency ventures raises questions about the future dynamics of the industry—particularly how regulatory landscapes may evolve in response to such high-profile engagements.
As American Bitcoin gears up for its debut, the broader implications for the cryptocurrency market remain uncertain. Will the public markets embrace this new player with open arms? And what does this mean for the future of politically-backed crypto ventures? The coming months will undoubtedly shed light on these questions, as investors and analysts alike watch closely to see how American Bitcoin’s journey unfolds.
Source
This article is based on: Trump-Backed Bitcoin Miner American Bitcoin Targets September Nasdaq Debut
Further Reading
Deepen your understanding with these related articles:
- Benchmark Raises Hut 8 Price Target as Bitcoin Miner Aims to Boost Energy Capacity
- Bitcoin Mining Faces ‘Incredibly Difficult’ Market as Power Becomes the Real Currency
- The Protocol: Bitcoin Mining Faces New Challenges as Power Costs Eat Profit
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
