American Bitcoin Soars 60% After Nasdaq Debut

The cryptocurrency sector saw a major shake up as American Bitcoin (ABTC), co-founded by Donald Trump Jr. and Eric Trump, made its debut on the Nasdaq after completing a merger with Gryphon Digital Mining. Within hours of trading, the company’s shares surged 60% to $11, up from $6.90 at the time of the merger.

American Bitcoin has already filed for an at the market equity raise worth up to $2.1 billion, aimed at expanding its mining operations and boosting its bitcoin holdings. The company has accumulated 2,443 BTC as part of its treasury strategy, valued at over $160 million at current market prices.

The business model combines bitcoin mining with a treasury management approach, holding mined coins on its balance sheet, similar to strategies adopted by leading firms like Marathon Digital.

The firm originated in March 2025 through a merger between the Trump brothers’ American Data Centers and Canadian crypto miner Hut 8, which now controls 80% ownership of the newly listed entity.

Key Details of American Bitcoin (ABTC)

With its explosive debut, American Bitcoin positions itself as a hybrid crypto firm mining bitcoin while building a strong balance sheet marking one of the most high-profile entries into the U.S. public crypto market in 2025.