0:00
0:00
Subscribe to Bankless or sign in
American 
Bitcoin (ABTC), a newly listed bitcoin mining and treasury company backed by 
Donald Trump Jr. and Eric Trump, began trading on the Nasdaq Wednesday following its merger with Gryphon Digital Mining (GRYP).
What’s the Scoop?
- $2.1B raise filed: The company filed for an at-the-market (ATM) equity offering of up to $2.1 billion to support future bitcoin acquisitions.
- Corporate treasury strategy: American Bitcoin has accumulated 2,443 BTC to date, worth around $160 million at current prices. The firm’s model blends mining operations with long-term bitcoin accumulation on its balance sheet.
- Post-merger listing: The Nasdaq debut follows the merger with Gryphon Digital. Shares for the stock are up 40% so far since market open.
- Trump-backed entity: Formed in March through a merger of the Trump brothers’ American Data Centers and Canadian miner Hut 8 (HUT), the newly listed firm is 80% owned by Hut 8.
0
0
