American Bitcoin
| Type | Public |
|---|---|
| Nasdaq: ABTC | |
| Industry | Bitcoin mining |
| Incorporated | Delaware |
| Founded | March 2025 |
| Founders | Eric Trump Donald Trump Jr. |
| Headquarters | Miami, Florida, United States |
Key people | Eric Trump (chief strategy officer) Matt Prusak (president)[1] |
| Owner | Hut 8 Mining (80 %) |
| Website | https://www.abtc.com/ |
American Bitcoin Corp is an American bitcoin mining and treasury management company majority owned by digital infrastructure company Hut 8 Mining.[2] It is incorporated in Delaware with its headquarters in Miami, Florida.[3]
History
[edit]American Bitcoin was founded in March 2025 by Eric Trump, Donald Trump Jr., and shareholders of their former venture, American Data Centers.[2] Plans for the venture emerged in late 2024 when Hut 8 executives met Eric Trump at the Trump National Golf Club in Jupiter, Florida.[2] Between April and May 31, 2025, the company mined 215 bitcoin and reported it had raised $220 million by July 1, 2025 to fund mining equipment and a strategic bitcoin reserve.[2] Matt Prusak was appointed as the company's first President in 2025.[1]
On 12 May 2025, it was announced that public company Gryphon Digital Mining would merge with American Bitcoin in an all-stock transaction, with the new entity retaining the American Bitcoin name.[4] Shares of Gryphon climbed 285% to $2.00 on the announcement.[4] On September 3, 2025, American Bitcoin began trading on the Nasdaq Global Select Market after a merger with Gryphon Digital Mining.[4]
Operations
[edit]American Bitcoin operates mining facilities supplied by Hut 8 in Niagara Falls, Medicine Hat, Alberta and Orla, Texas.[2] As of May 31, 2025, the company operated over sixty thousand ASIC miners and held contractual rights to purchase an additional 17,280 Bitmain machines.[2]
In a September 2025 SEC filing, the company reported holdings of 2,443 bitcoin, valued at approximately $269 million. According to an investor presentation American Bitcoin follows three lines of strategy: operate mining facilities, accumulate bitcoin through mining and open market purchases, and building related services.[5]
Ownership
[edit]At launch, Hut 8 owned eighty percent of the equity while the Trump family and American Data Centers shareholders held the remaining twenty percent.[2][6]
References
[edit]- 1 2 Ge Huang, Vicky (3 September 2025). "Trump Brothers-Backed Bitcoin Mining Company Is Set to List on Nasdaq". Wall Street Journal. Retrieved 15 September 2025.
- 1 2 3 4 5 6 7 Klein, Jessica (31 July 2025). "The Inside Story of Eric Trump's American Bitcoin". Wired. Retrieved 5 September 2025.
- ↑ Ge Huang, Vicky (3 September 2025). "Trump Brothers-Backed Bitcoin Mining Company Is Set to List on Nasdaq". Wall Street Journal. Retrieved 3 September 2025.
- 1 2 3 McColl, Bill (12 May 2025). "Eric Trump's Bitcoin Mining Firm to Go Public". Investopedia. Retrieved 5 September 2025.
- ↑ Dale, Brady (4 September 2025). "Why the Trump family backed American Bitcoin is a different sort of power play". Axios. Retrieved 5 September 2025.
- ↑ Koh Gui Qing, Milana Vinn (2025-09-03). "Trump's oldest sons' American Bitcoin stake worth $1.5 billion in stock debut". Reuters. Retrieved 2025-09-05.