TL;DR
- American Bitcoin debuted on Nasdaq as ABTC after merging with Gryphon; it holds 2,443 BTC and aims to become a corporate BTC treasury.
- The company raised $220 million in cash and BTC; the Winklevoss twins are among the investors, and Hut 8 contributed infrastructure.
- After the merger, Eric Trump, Donald Jr., and Hut 8 control about 98% of the capital.
American Bitcoin, the BTC mining company tied to Donald Trump Jr. and Eric Trump, began trading on Nasdaq under the ticker ABTC after completing its merger with Gryphon Digital Mining.
The company already holds 2,443 BTC and used the public listing to reinforce a clear plan: grow as a bitcoin-focused corporate treasury. Eric Trump has publicly stated that the goal is to surpass firms like trategy and turn the company into one of the largest institutional holders of the cryptocurrency.
The company raised $220 million in a private placement ahead of the listing, with contributions in both cash and BTC. Investors included the Winklevoss twins, while mining firm Hut 8 provided infrastructure and secured a controlling stake through its role in the pre-merger deal. Those funds were used to acquire more tokens and expand mining capacity before the Nasdaq debut.
American Bitcoin follows an accumulation strategy similar to that popularized by other companies, defining BTC as its main capital reserve. This approach requires heavy investment in equipment and energy, while competing for a shrinking bitcoin supply: more than 90% of the 21 million coins are already in circulation. The energy-intensive nature of mining adds another layer of operational and financial complexity for any company aiming to act as a corporate treasury.
The Trump Family’s Control Over American Bitcoin
After the merger, Eric Trump, Donald Trump Jr., Hut 8 and other shareholders control about 98% of the combined entity, while former Gryphon investors hold the rest. The ownership structure suggests that strategic decisions and resources will remain closely aligned with the family and its partners.
The Trump family continues to expand its influence and business presence in the crypto market. Recently, it secured $5 billion in theoretical gains from the debut of WLFI, a token tied to another project backed by the group. This public overlap between the presidency and crypto business ventures has raised concerns among ethics experts regarding potential conflicts of interest.
The Nasdaq debut tests American Bitcoin’s ability to scale in a competitive and volatile market. The company now has both capital and technical capacity to expand its mining operations and reserves, but it will face direct comparison with players that already manage far larger bitcoin holdings
