American Bitcoin Supported By Trump's Son, Ready To Go To The Nasdaq September

JAKARTA - American Bitcoin, a bitcoin mining company backed by two sons of United States President Donald Trump, has received support from crypto investors and traditional investors through a stock merger deal that will allow the company to be traded on the Nasdaq soon.

According to Asher Genoot, CEO of Hut 8 holding 80% of American Bitcoin's shares, the unregistered company will soon complete a merger with Gryphon Digital Mining, and is targeted to start trading in early September.

Major shareholders for the recording process have been set, including founders of Gemini crypto exchanges Tyler and Cameronugoss, who are also investing in the new company.

American Bitcoin was founded by Eric Trump with Donald Trump Jr., with joint ownership of Hut 8 reaching 98% of entities that will stick to the American Bitcoin name and ABTC stock code on Nasdaq.

"As long as it's not directly an IPO, we see a lot of benefits in terms of financing if we combine it with companies that already have access to funding," Genoot said at a Bitcoin Asia conference in Hong Kong.

Eric Trump is also present in Hong Kong and is scheduled for Tokyo this weekend to attend Japan's bitcoin treasury company Metaplanet.

According to a Financial Times report two weeks ago, American Bitcoin is looking for crypto assets to acquire in Hong Kong and Japan to expand its global business.

Genoot said the company has the potential to take shares in foreign companies to give public access to the registered bitcoin assets, given that some investors cannot buy shares listed on the Nasdaq.

"It's still very early, so we haven't committed to anything yet," he said.

American Bitcoin was officially launched in March 2025 by Hut 8 alongside Eric Trump and Donald Trump Jr, with ambitions to become the largest and most efficient bitcoin miner in the world.

Langkah ini terjadi di tengah percepatan regulasi terkait kripto di Amerika Serikat yang mendukung pertumbuhan industri tersebut di bawah pemerintahan Donald Trump.

Genoot said the new company will accumulate bitcoin through mining and purchases. "Instead of just having a treasury strategy or just focusing on mining, we will adjust which strategy provides the best results at any given time," he said.

Miami-based Hut 8 was also a crypto miner but has now shifted its focus to energy infrastructure and data centers after establishing American Bitcoin with Trump's sons. Hut 8 will lease its data center to American Bitcoin.

Donald Trump's administration had drawn criticism over potential conflicts of interest for promoting the crypto industry at a time when his family was involved in the sector, but the White House denied the allegations.

Genoot insists that American Bitcoin's business is not linked to the government, while Eric Trump has more roles in strategy, including the development of new mining sites and treasury strategies.

Separately, at the same conference, Nakamoto Holdings a bitcoin treasury company led by crypto supporter David Bailey said they were looking at opportunities in the Asian crypto startup ecosystem and plan to support early-stage companies to develop the industry.

"We will also see other opportunities for incubation and merger & acquisition," said Kevin Zhang, Asia's head at Nakamoto Holdings.