American Bitcoin, the bitcoin (BTC) miner 20% owned by two of President Donald Trump's sons, plans to list on the Nasdaq in September, said Asher Genoot, the CEO of Hut 8, which owns the other 80%.
The firm is finalizing a merger with Gryphon Digital Mining that will clear the way for its public debut, Reuters reported. Once completed, the existing shareholders are expected to retain ownership of about 98% of the combined company.
American Bitcoin launched in March with a strategy to build up bitcoin reserves both by mining the asset and buying it outright for its balance sheet. The involvement of Donald Trump Jr. and Eric Trump ties the company to one of the most prominent political families in the United States.
The announcement comes days after another Trump-linked company, Trump Med