Bitcoin The mining company, backed by President Donald Trump’s sons, Eric Trump and Donald Trump Jr., is set to be made public to Nasdaq through a merger of general stocks. Griffon Digital Mining.
Griffon’s stock rose more than 300% on Monday.
The total company, American Bitcoin, will trade under the ticker symbol “ABTC” and is expected to close in the third quarter of 2025.
Existing shareholders of American Bitcoin, including the president’s two eldest sons, own around 98% of the new entities.
This is the latest notable move from the Trump family’s growing crypto empire. This already includes the controversial $Trump Meme Coin offering private dinners to the President and Coin Top Holders.
Eric Trump, co-founder and chief strategy officer of the mining company, framed the move as part of a broader strategy to solidify the country’s leadership in the global Bitcoin mining race.
“All sophisticated countries use excessive force to mine Bitcoin,” Trump previously told CNBC.
He distanced himself from direct involvement with his father’s administration, but revealed his belief that the US must remain competitive in the crypto sector.
“We won the space race. We should have won the code race,” he said.
On the campaign trail, the president repeatedly pledged to support US-based Bitcoin miners, including telling executives at the Mar-a-Lago closure event that he hopes all future Bitcoin will be minted in American soil.
The administration’s latest executive order will loosen environmental restrictions and encourage the development of more fossil fuels. This is a boon for oilfield miners, despite critics warning that the sudden climate could come.
The crypto market had little response. Bitcoin has been trading almost flat in the last 24 hours, trading for around $104,000.
American Bitcoin is carved from the energy infrastructure platform Hut 8The broad energy and artificial intelligence infrastructure platform is a movement designed to separate mining operations and unlock new capital.
Hut 8 shares rose 10% on Monday.
Watch: Bitcoin Miner Surges Behind Donald Trump’s Win
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