On September 3, 2025, American Bitcoin, a company formed by Hut 8 in partnership with Eric and Donald Trump Jr., made its trading debut on the Nasdaq. The stock, listed under the ticker ABTC, jumped 16.5% by the end of the first session.
The firm was previously known as American Data Centers. Back in March 2025, Hut 8 acquired an 80% stake in exchange for most of its ASIC equipment. Following the restructuring, the company was rebranded to American Bitcoin, with Eric Trump appointed Chief Strategy Officer.
In May, American Bitcoin announced a merger with Gryphon Digital Mining as a step toward going public. The deal closed in August, leaving Hut 8 and the Trump family with a 98% combined stake.
📊 On its first trading day, ABTC stock reached an intraday high of $14 before closing at $8.04. Trading volume hit 29 million shares, lower than Circle (46M) and Bullish (58M), but still significant. Due to heavy volatility, Nasdaq halted ABTC trading five times throughout the day.
According to Bloomberg, Eric Trump controls 7.5% of American Bitcoin, valued at around $548 million after the IPO.
“I’m incredibly proud of American Bitcoin. We’ve put our hearts into this company, and today marks just the beginning,” he commented.
Beyond mining, the company plans to manage a Bitcoin treasury, currently holding 2,443 BTC with plans to expand reserves further.
