TechFlow, August 28 — According to Reuters, American Bitcoin will begin trading on the Nasdaq under the ticker ABTC in early September through an all-stock merger with Gryphon Digital Mining. The company is backed by Donald Trump Jr. and Eric Trump, sons of U.S. President Donald Trump. Following the merger, they will jointly hold 98% of the new entity alongside Hut 8, its largest investor. Hut 8 CEO Asher Genoot said the company chose to raise capital via a merger with an existing public company instead of pursuing a direct IPO to gain greater financing advantages. American Bitcoin is reportedly seeking cryptocurrency assets in Hong Kong and Japan to expand its global operations, and is considering investments in non-U.S. companies to offer publicly traded bitcoin holdings.
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