{"id":23906,"date":"2025-05-12T17:25:50","date_gmt":"2025-05-12T14:25:50","guid":{"rendered":"https:\/\/forklog.com\/en\/american-bitcoin-linked-to-trumps-to-list-on-nasdaq\/"},"modified":"2025-05-12T17:25:50","modified_gmt":"2025-05-12T14:25:50","slug":"american-bitcoin-linked-to-trumps-to-list-on-nasdaq","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/american-bitcoin-linked-to-trumps-to-list-on-nasdaq\/","title":{"rendered":"American Bitcoin, Linked to Trumps, to List on Nasdaq"},"content":{"rendered":"<p>Hut 8&#8217;s subsidiary, American Bitcoin, is set to go public through a merger with Nasdaq-listed mining firm Gryphon Digital Mining.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">A new chapter begins.<\/p>\n<p>Read the full release for important information: <a href=\"https:\/\/t.co\/wAjHvV7kUD\">https:\/\/t.co\/wAjHvV7kUD<\/a> <a href=\"https:\/\/t.co\/hHrgGbCRsh\">pic.twitter.com\/hHrgGbCRsh<\/a><\/p>\n<p>\u2014 American Bitcoin (@AmericanBTC) <a href=\"https:\/\/twitter.com\/AmericanBTC\/status\/1921916258309513294?ref_src=twsrc%5Etfw\">May 12, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The share exchange deal is expected to close in the third quarter of 2025, pending shareholder and regulatory approval.<\/p>\n<p>The combined entity will operate under the American Bitcoin brand (ticker ABTC). Hut 8&#8217;s subsidiary will retain its board of directors and management team, which includes Eric Trump, son of the U.S. President Donald Trump. Shareholders of the company will hold a 98% stake in the new structure. <\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Listing American Bitcoin on the exchange is a significant step towards scaling the business at the pace and scale we envision,&#8221; said Hut 8 CEO Asher Genut.<\/p>\n<\/blockquote>\n<p>According to a <a href=\"https:\/\/www.globenewswire.com\/news-release\/2025\/05\/12\/3078943\/0\/en\/Hut-8-Subsidiary-American-Bitcoin-Announces-Go-Public-Transaction.html\">press release<\/a>, the parent company will continue to serve as the &#8220;exclusive infrastructure and operational partner&#8221; for American Bitcoin.<\/p>\n<p>On March 31, Hut 8 <a href=\"https:\/\/forklog.com\/en\/news\/hut-8-partners-with-eric-trump-to-launch-american-bitcoin\">announced<\/a> the creation of a subsidiary focused on bitcoin mining. <\/p>\n<p>Previously, the firm acquired an 80% stake in American Data Centers, in exchange for nearly its entire fleet of miners, from a group of investors led by Eric Trump and Donald Trump Jr. The venture was relaunched as American Bitcoin. <\/p>\n<p>In April, the company <a href=\"https:\/\/forklog.com\/en\/news\/trump-linked-mining-firm-to-go-public\">announced<\/a> its intention to go public, without disclosing details. Eric Trump, who assumed the role of Chief Strategy Officer, stated at the time:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;We are going to become the greatest bitcoin mining company in the world, and we are doing it here in America.&#8221;<\/p>\n<\/blockquote>\n<p>He assured that he does not work with the White House and &#8220;practically&#8221; does not communicate with his father.<\/p>\n<p>Based in Canada, Hut 8 is listed on the Toronto Stock Exchange and Nasdaq. In 2023, the firm relocated to the U.S. following the acquisition of US Bitcoin.<\/p>\n<p>Genut, in anticipation of American Bitcoin achieving public company status, suggested viewing the two firms as &#8220;sister companies.&#8221; One will focus on &#8220;energy and data center infrastructure,&#8221; while the other will concentrate on &#8220;bitcoin, ASIC, and crypto reserve.&#8221;<\/p>\n<p>According to <a href=\"https:\/\/bitcointreasuries.net\/\">BitcoinTreasuries<\/a>, Hut 8 holds 10,237 BTC valued at $1.07 billion at the time of writing.<\/p>\n<p>Back in January 2025, the family of the current president <a href=\"https:\/\/forklog.com\/en\/news\/trump-family-secures-control-over-world-liberty-financial\">consolidated control<\/a> over the DeFi platform World Liberty Financial, according to Reuters.<\/p>\n<p>Launched in September before the U.S. presidential elections, the project raised <a href=\"https:\/\/forklog.com\/en\/news\/world-liberty-financial-raises-590-million-through-dual-token-sales\">$590 million<\/a> through token sales. The majority of the funds were secured after Trump&#8217;s election.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hut 8&#8217;s subsidiary, American Bitcoin, is set to go public through a merger with Nasdaq-listed mining firm Gryphon Digital Mining. A new chapter begins. Read the full release for important information: https:\/\/t.co\/wAjHvV7kUD pic.twitter.com\/hHrgGbCRsh \u2014 American Bitcoin (@AmericanBTC) May 12, 2025 The share exchange deal is expected to close in the third quarter of 2025, pending [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":23905,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,1136,1211],"class_list":["post-23906","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-hut-8","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"35","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/23906","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=23906"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/23906\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/23905"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=23906"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=23906"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=23906"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}