American Bitcoin Shares Surge 60% on Nasdaq Debut After Gryphon Merger

American Bitcoin (ABTC), co-founded by Donald Trump Jr. and Eric Trump, made a high-profile debut on the Nasdaq after merging with Gryphon Digital Mining, with its stock experiencing volatile trading and surging as much as 83% before settling up 34% on the day. The company, majority-owned by Canadian crypto miner Hut 8, combines bitcoin mining with a treasury strategy, currently holding over 2,400 BTC valued at more than $160 million, and has filed for an equity raise of up to $2.1 billion to expand mining operations and bitcoin holdings. American Bitcoin leverages Hut 8’s mining infrastructure and technology to lower operating costs and increase bitcoin reserves, positioning itself as a hybrid public crypto firm in 2025. The firm's launch benefits from a permissive regulatory environment under President Donald Trump's administration, which has supported digital asset companies' growth and eased SEC litigation pressures. This market entry is part of a broader trend of crypto firms linked to Trump allies seeking public listings, highlighted by the Winklevoss twins' filing to take their Gemini exchange public. Despite early trading halts due to volatility, American Bitcoin aims to be an institutional-grade bitcoin accumulation platform, offering investors scalable exposure to bitcoin through mining and treasury management.