Trump Family’s American Bitcoin Stock Surges in Market Debut

American Bitcoin, a newly launched Bitcoin mining company backed by Eric Trump and Donald Trump Jr., made a striking entrance on the Nasdaq under the ticker ABTC. The company’s stock soared as high as 60% in its first hours of trading, reaching over $13 before settling around $9.50. This debut pushed American Bitcoin’s market capitalization above $5 billion, marking it as one of the most talked-about listings in the crypto sector this year.

The company is the result of a joint venture between the Trump sons and Hut 8, a major player in Bitcoin mining. Hut 8 contributed the majority of its specialized mining hardware in exchange for an 80% stake, with the new entity focused exclusively on cryptocurrency mining. Separately, Hut 8 will continue to develop its data center business, shifting part of its strategy toward supporting artificial intelligence operations.

American Bitcoin was brought to market rapidly through an all-stock merger with Gryphon Digital Mining. The company also completed a $220 million private stock sale, bolstering its early financial profile. In total, the Trump family’s stake in American Bitcoin now exceeds $1.4 billion.

Eric Trump has described American Bitcoin as a way for investors to gain direct exposure to Bitcoin’s market potential, expressing his belief that the cryptocurrency is one of the great financial assets ever created. The high-profile involvement of the Trump family has drawn significant attention from both traditional and crypto investors, making the company’s public offering a noteworthy event in the ongoing growth of digital assets in the United States.