American Bitcoin, a mining company partially owned by Donald Trump Jr. and Eric Trump, is preparing to open it to the Nasdaq in September, Reuters reported on August 28.
The company, launched in March, is 80% owned by Toronto-based Hut 8, one of North America’s largest crypto miners.
The Trump brothers collectively own the remaining 20%, linking the venture to one of the most famous political families in the United States
Merger clears path to list
To make its debut possible, American Bitcoin has finalized a merger with Gryphon Digital Mining.
The agreement is expected to leave current shareholders around 98% of the total company, providing continuity as companies enter the open market.
Bitcoin in the US raised $220 million from accredited investors earlier this year, with $10 million worth of Bitcoin making a direct contribution to the Treasury Department, expanding its business and strengthening its reserves.
The funding round was intended to expand both its mining capabilities and its ability to accumulate Bitcoin as a strategic preparation.
Expanding reach and political ties
Speaking at the Bitcoin Asia Conference in Hong Kong, Hut 8 CEO Asher Genoot said it could pursue international investments to expand access to investors who cannot directly hold shares registered with Nasdaq.
Such partnerships allow exposure to Bitcoin-linked securities through regulated entities in other markets, and direct access to crypto remains difficult.
This move occurs as the Trump family deepens their ties with the crypto sector. Trump Media and Technology Group, which is linked to President Donald Trump, recently announced plans to issue the Crypto ETF and launch a joint venture with Crypto.com.
For the HUT 8, the NASDAQ list represents another lever to establish itself as a dominant mining company as competition rises and energy costs remain unstable.
Meanwhile, for the Trump brothers, the deal provides a foothold in the digital asset economy at a moment when both political debates over Bitcoin adoption and crypto are raging.
Based on the encrypted data, Bitcoin was trading at around $112,500 at press time.