American Bitcoin, Bitcoin Miner 20% owned by two of the children of President Donald Trump, plans to list the Nasdaq in September, said Asher Genoot, the CEO of Hut 8, which has the other 80%.
The firm is finishing a fusion with Gryphon Digital Mining that will clear the way for its public debut, Reuters reported. Once completed, existing shareholders are expected to retain the property of approximately 98% of the combined company.
American Bitcoin was launched in March with a strategy to build Bitcoin reservations both undermining the asset and buying it directly for balance. The participation of Donald Trump Jr. and Eric Trump links the company with one of the most outstanding political families in the United States.
The announcement occurs days after another company linked to Trump, Trump Media and Technology Group (DJT) He said he planned to form a joint business with Crypto.com that will be made public combining with a special purpose acquisition vehicle (SPAC).
American Bitcoin recently raised $ 220 million of accredited investors together with $ 10 million in Bitcoin contributed instead of cash. The capital intended to expand its infrastructure and strengthen its treasure as it advances towards life as a company that quotes in the stock market.
Genoot, speaking at the Bitcoin Asia conference in Hong Kong, said the miner can also participate in companies outside the United States to expand access to values linked to Bitcoin. Some investors cannot buy shares quoted by NASDAQ directly, and Genoot suggested that foreign associations could provide an exposure route through regulated entities.
For the American Bitcoin, the planned list represents a commitment that public markets are still hungry for direct exposure to cryptographic miners, even as competition intensifies and energy costs fluctuate. A debut in September would place the firm between a small cohort of miners that pursues listed as a way of attracting institutional investors.
The measure also offers Hut 8 based in Toronto another lever in its impulse to settle as a leading mining company in North America, while giving the Trump brothers a support point in a business directly linked to Bitcoin’s growth.
Hut 8 shares were recently traded 0.6% higher than $ 26.5.
