Trump-Backed American Bitcoin To Go Public Via All-Stock Merger

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, according to a Reuters report.

Bitcoin mining is the practice of employing computers to solve challenging mathematical problems while protecting the blockchain network and earning new bitcoins as a reward.

The deal is planned to close in the third quarter of 2025, with American Bitcoin's current shareholders, including Eric Trump, Donald Trump Jr., and cryptocurrency miner Hut 8, retaining 98 per cent control of the combined business. Eric Trump will continue to serve as Chief Strategy Officer.

Eric Trump said in a statement that the newly formed company plans to go public on the Nasdaq and aims to become a major player in bitcoin accumulation.

Donald Trump and his family have also ventured into the cryptocurrency space with initiatives like World Liberty Financial, alongside the launch of official meme coins such as $TRUMP and $MELANIA. Earlier this year, the family was involved in launching a meme coin and crypto venture World Liberty Financial. U.S. President Donald Trump has expressed support for a more relaxed regulatory approach to cryptocurrency and has emphasized the goal of establishing the U.S. as a leader in the sector.

The report further stated that Gryphon shares surged more than threefold to $2.19 following the announcement, while shares of Hut 8 rose over 11 per cent to $15.45.

This comes amid a wave of corporate moves aimed at gaining indirect exposure to bitcoin. According to Reuters, several companies have recently adopted strategies that allow them to accumulate bitcoin on their balance sheets without requiring investors to directly hold the cryptocurrency.

Allan Marshall, CEO of ecommerce firm Upexi, told to Reuters that stock investments tied to crypto offer a more approachable route for the average investor compared to buying digital assets directly. Upexi’s stock has more than quadrupled since it announced plans to hold Solana as a treasury asset.

The Trump-backed mining company, which launched in March, aims to become a leading bitcoin accumulation platform for traditional investors, providing exposure to digital assets via publicly traded equity.