The Trump family-owned Bitcoin mining company American Bitcoin (ABTC.US) is planning to go public through a reverse merger and aims to list on the NASDAQ in September.

According to the largest investor of American Bitcoin (ABTC.US), a Bitcoin mining company supported by two sons of US President Trump, has successfully attracted investors in the cryptocurrency and traditional sectors to support a full stock merger deal. Through this transaction, the company is expected to be listed on the Nasdaq exchange soon. According to Asher Genoot, CEO of Hut 8 (HUT.US), who holds 80% of American Bitcoin's shares, the merger with the unlisted company Gryphon (GRYP.US) is set to be completed, with trading set to begin in early September. He added that the anchor investors for this listing have already been finalized. The newly formed entity will be co-owned by company co-founders Eric Trump, his brother Donald Trump Jr., and Hut 8, holding 98% of the shares, and will continue to use the name American Bitcoin with the stock code ABTC. Genoot, speaking at the "Crypto Asia conference" in Hong Kong, said: "We chose not to go public through an IPO, but rather believed that by merging with an existing company with multiple financing channels, we would have more advantages in terms of financing." Genoot also mentioned that Eric Trump is currently in Hong Kong and will be heading to Tokyo over the weekend to attend an event by the Japanese Bitcoin asset management company Metaplanet. According to reports from two weeks ago, American Bitcoin is looking to acquire cryptocurrency assets in Hong Kong and Japan to expand its global business. Genoot stated that due to restrictions on some investors purchasing stocks of Nasdaq-listed companies, the company may invest in companies outside the US to allow investors to access listed Bitcoin assets. "At present, everything is still in the early stages, and we have not yet confirmed any specific collaborations," Genoot also revealed that Hut 8 was originally a cryptocurrency mining company, but after co-founding American Bitcoin with Trump's sons, it has shifted its focus to energy infrastructure and data center sectors.