Trump Family-Backed American Bitcoin to Go Public on Nasdaq as ABTC in Q3 2025, Retaining 98% Ownership
By: defi news|2025/05/12 19:30:09
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American Bitcoin, a Bitcoin mining company backed by Eric Trump and Donald Trump Jr., is set to go public through an all-stock merger with Gryphon Digital Mining. The new entity will trade on the Nasdaq under the ticker symbol 'ABTC', with the merger expected to close in the third quarter of 2025.American Bitcoin, previously known as American Data Centers Inc., is majority-owned by Hut 8 Corp, which holds an 80% stake, while the Trump brothers own 20%. Following the merger, existing shareholders of American Bitcoin, including the Trump family, will own approximately 98% of the combined company. Hut 8 will continue to provide infrastructure and operational support.To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
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