American Bitcoin, Backed by Trump Sons, Goes Public via Gryphon Merger

In May 2025 American Bitcoin, a bitcoin-mining venture co-founded by Donald Trump Jr. and Eric Trump alongside Hut 8, announced it would go public through a merger with Gryphon Digital Mining, trading on Nasdaq under the ticker ABTC. The Trump sons and Hut 8 were set to own roughly 98% of the combined company.

The listing gave investors a way to buy exposure not just to bitcoin mining infrastructure but to the Trump family brand itself, at a time when Donald Trump occupies the White House and his administration has moved to loosen crypto regulation. Gryphon's stock jumped more than 200% on the announcement.

Ethics watchdogs say ventures like this invite influence-peddling concerns because federal policy directly shapes the industry the president's sons are profiting from. Supporters describe it as legitimate entrepreneurship. The merger was expected to close by the third quarter of 2025.