Trump Sons-Backed Bitcoin Miner ‘American Bitcoin’ to Trade on Nasdaq
- ‘American Bitcoin,’ a new miner backed by the Trump sons, is set to go public on Nasdaq in September.
- The company is the result of a merger between Hut 8 and Gryphon Digital Mining.
- The new firm, trading under the ticker ABTC, is reportedly seeking to acquire assets in Asia.
American Bitcoin, the bitcoin miner backed by Donald Trump’s two sons, is about to start trading on Nasdaq.
According to Asher Genoot, the CEO of Hut 8, the firm is on the verge of completing a merger with Gryphon Digital Mining and plans to start trading in September.
How Is ‘American Bitcoin’ Structured?
Hut 8 is the largest investor, holding up to 80% of the company’s shares. After the merger, the Trump sons and Hut 8 will jointly own 98% of the new entity. The company will operate under the name American Bitcoin and trade on the Nasdaq with the stock ticker ABTC.
Speaking at the Bitcoin Asia Conference in Hong Kong, Genoot explained why the firm chose a merger over a traditional IPO, noting it was more beneficial to work with an existing company that had other financing channels. Eric Trump also traveled to Hong Kong and plans to attend Metaplanet’s event in Tokyo …
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Trump Sons-Backed Bitcoin Miner ‘American Bitcoin’ to Trade on Nasdaq
- ‘American Bitcoin,’ a new miner backed by the Trump sons, is set to go public on Nasdaq in September.
- The company is the result of a merger between Hut 8 and Gryphon Digital Mining.
- The new firm, trading under the ticker ABTC, is reportedly seeking to acquire assets in Asia.
American Bitcoin, the bitcoin miner backed by Donald Trump’s two sons, is about to start trading on Nasdaq.
According to Asher Genoot, the CEO of Hut 8, the firm is on the verge of completing a merger with Gryphon Digital Mining and plans to start trading in September.
How Is ‘American Bitcoin’ Structured?
Hut 8 is the largest investor, holding up to 80% of the company’s shares. After the merger, the Trump sons and Hut 8 will jointly own 98% of the new entity. The company will operate under the name American Bitcoin and trade on the Nasdaq with the stock ticker ABTC.
Speaking at the Bitcoin Asia Conference in Hong Kong, Genoot explained why the firm chose a merger over a traditional IPO, noting it was more beneficial to work with an existing company that had other financing channels. Eric Trump also traveled to Hong Kong and plans to attend Metaplanet’s event in Tokyo …
The post Trump Sons-Backed Bitcoin Miner ‘American Bitcoin’ to Trade on Nasdaq appeared first on Coin Edition.
Read More