Trump eldest son and second son establish Bitcoin mining company, Nasdaq listing push...98% stake secured

Trump's sons expanding business utilizing their father's pro-cryptocurrency policy (Source: Fortune)

American Bitcoin, a bitcoin mining company founded by Donald Trump Jr., the eldest son, and Eric Trump, the second son of U.S. President Donald Trump, is pursuing Nasdaq listing.

According to CNBC on the 12th (local time), American Bitcoin is proceeding with the merger process with Gryphon Digital Mining of the same industry in a stock swap method. Once the merger is completed, the new corporation will be listed on Nasdaq under the name 'American Bitcoin,' and the stock code will be 'ABTC.' The start of trading is expected as early as the third quarter of 2025.

Through this merger, existing shareholders of American Bitcoin will hold 98% of the new corporation's shares, which includes Trump Jr. and Eric Trump. On the other hand, shareholders of Gryphon Digital Mining will hold only the remaining 2% of the shares. The management team of American Bitcoin will remain unchanged after the merger.

Eric Trump, as co-founder and Chief Strategy Officer (CSO) of American Bitcoin, emphasized in an interview with CNBC, "Countries are using surplus power to mine Bitcoin," and "The U.S. should not lose leadership in the cryptocurrency mining competition." He expressed strong determination by saying, "We won the space race. Now, we have to win the cryptocurrency race."