American Bitcoin Goes Public: Trump-Backed Deal Could Close in Q3 2025!

American Bitcoin Goes Public—What It Means for Investors?

Through a final merger deal with Gryphon Digital Mining, Inc., American Bitcoin, a division of Bitcoin miner Hut 8 Corp., and Trump-led data company American Data Centers plan to go public. A news release issued on Monday stated that, subject to shareholder and regulatory clearances, the stock-for-stock deal may close as early as the third quarter of 2025.

Trump-Backed Bitcoin Miner Goes Public: American Bitcoin’s Bold Move!

According to the merger plan, Gryphon owners will own the remaining 2% of the merged business, while American Bitcoin stockholders will possess roughly 98%. Additionally, it is anticipated that the company will trade on the Nasdaq with the ticker symbol ABTC and function under the American Bitcoin name.

This transaction marks the next step in scaling American Bitcoin as a purpose-built vehicle for low-cost Bitcoin accumulation at scale,” Asher Genoot, Hut 8 CEO

Bitcoin Mining Giant American Bitcoin to Trade as ABTC on Nasdaq

Through a strategic alliance between Hut 8 and American Data Centers, which has investors including Donald Trump Jr. and Eric Trump, American Bitcoin was introduced in March of this year. On April 1, Genoot earlier announced plans to turn the Trump-backed Bitcoin mining business into a publicly traded corporation. According to Yahoo Finance, Hut 8 shares increased 12% in the pre-market hours after the announcement.

Mike Ho is still the executive chairman, Matt Prusak is the CEO, and Eric Trump is the chief strategy officer of American Bitcoin. Following the merger, Asher Genoot, the CEO of Hut 8; Justin Mateen, a co-founder of Tinder; and Michael Broukhim, a co-founder of FabFitFun, will continue to serve on the board.

By taking American Bitcoin public, we expect to unlock direct access to dedicated growth capital independent of Hut 8’s balance sheet, while preserving long-term exposure to Bitcoin upside for our shareholders,

Genoot

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