, the bitcoin miner backed by Donald Trump’s two sons, is about to start trading on Nasdaq.
, the bitcoin miner backed by Donald Trump’s two sons, is about to start trading on Nasdaq.
According to Asher Genoot, the CEO of Hut 8, the firm is on the verge of completing a merger with Gryphon Digital Mining and plans to .
Hut 8 is the largest investor, holding up to 80% of the company’s shares. After the merger, the Trump sons and Hut 8 will jointly own 98% of the new entity. The company will operate under the name American Bitcoin and trade on the Nasdaq with the stock ticker .
in Hong Kong, Genoot explained why the firm chose a merger over a traditional IPO, noting it was more beneficial to work with an existing company that had other financing channels. Eric Trump also traveled to Hong Kong and plans to attend Metaplanet’s event in Tokyo this coming weekend.
A previous report suggested that American Bitcoin is seeking digital assets to purchase in Hong Kong and Japan. The latest trip by the firm’s executives aligns with the earlier suggestion, and Genoot confirmed that the new firm is open to taking stakes in companies outside of the US in line with its goal of giving people access to publicly listed bitcoin assets.
In the meantime, Genoot noted that everything is still in the planning stage, as American Bitcoin has yet to finalize its commitment.
Meanwhile, Hut 8 has shifted its focus to energy infrastructure and data centers, moving away from its mining services after partnering with Trump’s sons to launch American Bitcoin.
This move highlights the Trump family’s growing interest in crypto ventures. Hut 8, for its part, has shifted its focus to energy infrastructure and data centers after partnering with the Trump sons to launch American Bitcoin.
While President Trump has his own documented involvement in other crypto-related activities, there are no reports that he is directly involved in the American Bitcoin company structure.
