Trump-Linked American Bitcoin Corp. Set for Nasdaq Debut via Gryphon Merger

A major move is unfolding in the world of crypto mining as American Bitcoin Corp., co-founded by Eric Trump, prepares to list on Nasdaq through a merger with Gryphon Digital Mining. The merged company, to trade under the ticker ABTC, signals a deeper fusion of crypto and political power, grabbing the attention of both investors and regulators.

The merger, expected to be finalized after a shareholder vote on August 27, gives 98% control to American Bitcoin stakeholders, including Eric Trump, Donald Trump Jr., and Hut 8. Despite being structured as a stock-for-stock deal, control of the firm heavily leans on the Trump family.

With over 215 BTC already mined and $220 million raised, the new entity aims to control more than 15% of U.S. Bitcoin mining hash power, placing it among the top players in the space. Eric Trump is positioned to hold 367 million shares, aligning with the former president’s calls for a "golden age of crypto."

This move could normalize crypto in Wall Street circles, offering institutional investors exposure through public markets without holding crypto directly. But it also raises concerns about political influence, centralization, and regulatory oversight, especially as Trump’s re-election campaign keeps crypto in the spotlight.