American Bitcoin, the mining venture co-founded by Eric Trump and Donald Trump Jr., is preparing for a high-profile debut on Wall Street.

It adds to the list of crypto-related firms going public in the US, riding on regulatory purview under the Trump administration.

American Bitcoin’s IPO: Everything You Need to Know

The firm, backed by Canadian mining giant Hut 8, is set to go public through an all-stock merger with Gryphon Digital Mining. Trading will begin on the Nasdaq in early September under the ticker ABTC.

If successful, the move could position American Bitcoin as one of the most high-profile players in the Bitcoin mining sector. It would give traditional investors a regulated vehicle for scale exposure to the asset class.

The upcoming listing will be structured around a merger with Gryphon Digital Mining, an existing Nasdaq-listed company. This route allows American Bitcoin to bypass the lengthy IPO process and tap into existing financing structures.

“Instead of going public directly via IPO, we thought there were more advantages to financing if we had an existing company that already had access to different financing too,” Reuters reported, citing Hut 8 CEO Asher Genoot at the Bitcoin Asia conference in Hong Kong.

Post-merger, Eric Trump, Donald Trump Jr., and Hut 8 will collectively control 98% of the company. Meanwhile, Hut 8 will hold 80%.

This overwhelming majority positions the Trump family and Hut 8 as the new entity’s dominant forces. Together, they would steer its strategy and long-term vision.

Anch

Go to Source to See Full Article
Author: Lockridge Okoth