American Bitcoin, a crypto mining company, has accumulated 215 BTC, valued at over $23 million since its April launch. Backed by the Trump family, the company is preparing for a Nasdaq public listing, drawing attention within the buzzing crypto market.
Trump Family’s Crypto Venture
Co-founded by Eric Trump, with Donald Trump Jr. also holding a stake, American Bitcoin is a key player in the Trump family’s growing crypto empire. Eric Trump serves as the chief strategy officer, steering the firm’s mission to become a leading Bitcoin accumulation platform. The venture is a partnership with Hut 8, a major crypto mining firm, and has already drawn attention for its rapid growth.
The Trump family’s involvement has sparked both excitement and scrutiny, with critics pointing to potential conflicts of interest given President Donald Trump’s push for crypto-friendly policies. Posts on X highlight the buzz, with users noting the strategic timing of the Bitcoin haul ahead of the public merger.
Public Listing Plans Looming
American Bitcoin is set to go public via an all-stock merger with Gryphon Digital Mining, aiming for a Nasdaq listing under the ticker ABTC. Announced on May 12, 2025, the merger allows existing shareholders, including the Trump brothers and Hut 8, to retain 98% ownership of the new entity, sparking speculation about its valuation and impact on Bitcoin mining.
The firm’s filing with the SEC emphasizes Bitcoin as a long-term asset, signaling plans to keep stacking coins. With 215 BTC already in its coffers, American Bitcoin is positioning itself as a heavyweight in the market, capitalizing on rising crypto enthusiasm.
As the company prepares to hit the Nasdaq, its $23 million Bitcoin stash is a loud statement. This venture, blending political clout with financial ambition, could redefine how Bitcoin mining companies operate in the public eye.
Meanwhile, as at press time, Bitcoin dwindled, however, toward a bullish direction. According to CoinMarketCap, the apex coin’s price stood at over $107,000, with a 24-hour trading volume of $58.64 billion. Its market capitalization is approximately $2.16 trillion, representing a 63.87% dominance in the crypto market.
