American Bitcoin to go public: Will Trump family’s mining venture boost BTC?

• Eric Trump’s American Bitcoin is set to go public to scale ‘low-cost BTC accumulation.’
• The deal will allow American Bitcoin stockholders to own 98%. 

American Bitcoin, a Bitcoin [BTC] mining company co-founded by Eric Trump, has announced plans to go public.

In a statement on the 12th of May, the firm said it will merge with a Nasdaq-listed Gryphon Digital Mining to ‘scale BTC accumulation.’

“Positions American Bitcoin to become a publicly traded vehicle for low-cost Bitcoin accumulation at scale.”

‍The American Bitcoin is a venture mainly owned by Hut 8, a top BTC mining operator.

According to the agreement, stockholders of American Bitcoin will own 98% of the new merger, while Gryphon shareholders will get only 2%. 

Bitcoin reserve play

After the deal, the company will operate under a new brand, American Bitcoin. It will focus on industrial BTC mining and BTC reserve development. Eric Trump, in a statement, said, 

 “Our vision for American Bitcoin is to create the most investable Bitcoin accumulation platform in the market.”

For his part, Asher Genoot, CEO of Hut 8 and board member of American Bitcoin, noted that going public would allow the firm to scale and meet its goals. 

According to Google Finance data, the update sparked a 173% daily rally for Gryphon Digital Mining shares (GRYP). 

That said, Bitcoin mining is the latest Trump family interest in the space, along with other ventures in the stablecoin and DeFi segments. 

Interestingly, for the new venture, the team seeks a similar Strategy-like BTC play through mining rather than buying the asset directly from the markets. 

According to CryptoQuant Axel Adler, the average cost of mining one BTC was around $36.8K.

Compared to the current BTC value above $100K, it translates to a +180% gain. From this perspective, the American Bitcoin model, especially the BTC reserve angle, was plausible. 

Source: CryptoQuant

However, some analysts stated that the above costs only applied to electricity, not mining hardware. According to critics, the cost of mining a single BTC could hit $80K-$90K if hardware equipment is factored. 

Overall, the American Bitcoin-Gryphon deal is expected to be finalized in Q3 2025. It remains to be seen what level of market interest American Bitcoin will generate when the deal is done.