American Bitcoin (ABTC), a recently public Bitcoin mining and treasure firm backed by Donald Trump Jr. and Eric Trump, opened for commerce on Wednesday morning after completing its merger with Gryphon Digital Mining (Gryp).
When wasting little time, the company requested a market increase in the market of up to $ 2.1 billion to continue building its Bitcoin (BTC) (which was put in 2,443 coins at the time of merger).
The shares have shot 60% to $ 11 compared to the price of $ 6.90 at the time of the merger on Tuesday night.
It is the last chapter of the rapid formation of American Bitcoin, which began in March through a combination of the American data centers of the Trump brothers and the Canadian mining firm Hut 8 (HUT). Hut 8 now has a property participation of 80% in the newly quoted entity.
The American Bitcoin business combines Bitcoin mining with a corporate treasure approach focused on the accumulation of the asset. Since its inception at the beginning of this year, the company has accumulated 2,443 bitcoin, for an approximate value of $ 160 million to current prices. This hybrid, mining, Bitcoin model while holding it as an asset of the balance sheet, reflects the strategies used by other high -profile mining companies such as Digital Marathon.
