Trump-Linked American Bitcoin Shares Halted Multiple Times Amid Nasdaq Volatility

American Bitcoin (ABTC), a Bitcoin mining and treasury company backed by Eric Trump and Donald Trump Jr., experienced a highly volatile debut on the Nasdaq following its merger with Gryphon Digital Mining. The stock surged dramatically, reaching highs of around $14 per share and triggering multiple trading halts due to rapid price fluctuations before settling near $9.80. The company has quickly moved to capitalize on its public status by filing for an at-the-market equity raise of up to $2.1 billion to expand its bitcoin holdings and mining operations, currently holding about 2,443 bitcoins valued at roughly $160 million. American Bitcoin’s hybrid business model of mining and holding bitcoin mirrors strategies of other major mining firms and is supported by significant ownership from Canadian mining company Hut 8. The involvement of the Trump family has attracted notable retail interest and adds a political dimension to the company’s efforts to advance U.S. bitcoin adoption. This debut highlights Wall Street’s growing appetite for digital asset firms and the increasing use of SPAC mergers as a fast-track to public markets for crypto companies.