Eric Trump wants to take his Bitcoin mining firm public

By: coinfea|2025/05/14 01:45:05

Eric Trump has announced plans to take his Bitcoin mining firm public. The firm, backed by him and his brother, Donald Trump Jr, is set to enter an all-stock merger with Gryphon Digital Mining.The new company, American Bitcoin, will head for NASDAQ under the ABTC ticker. The deal will close by the third quarter of 2025, giving the Trump sons and existing shareholders control of 98% of the new entity. According to CNBC, this is the next step in the Trump family’s growing footprint in crypto. They’ve already pushed out the $TRUMP meme coin, and now they’re digging into the mining side, locking in real infrastructure and access to capital markets.Eric Trump backs the United States to win the crypto raceEric, who is also a co-founder in the company and serves as chief strategy officer, said the move is part of a larger play to help the US dominate global mining. He made it clear during an earlier interview that other nations aren’t sitting still. “Every single sophisticated country is using their excess power to mine Bitcoin,” he said.While he said he isn’t involved in the White House, he did share what he thinks needs to happen next. “We won the space race. We better win the crypto race,” he told CNBC. His father, the US president, has been pushing the same message out on the campaign trail. During a closed-door meeting at Mar-a-Lago, Trump told top executives that he wants all future Bitcoin mining to happen on American soil.Inside the White House, new executive orders have been rolled out to ease up on environmental rules. The orders also support more fossil fuel development, which helps oilfield mining operations that use excess gas to run rigs. Environmental groups are not happy, but miners are taking the win.Shares of Gryphon spiked over 300% on Monday after the merger news broke. Hut 8, the energy and AI platform American Bitcoin is being carved out from, also saw its stock go up 10%. Crypto markets, on the other hand, didn’t flinch. Bitcoin stayed around $104,000, unchanged in the past 24 hours.The post Eric Trump wants to take his Bitcoin mining firm public first appeared on Coinfea.

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