President Donald Trump’s two eldest sons notched a win on Wednesday as the Bitcoin company they partly own surged in its Nasdaq debut.
American Bitcoin (ticker ABTC), which is blending a strategy of both buying and mining BTC, saw its stock rise nearly 17% to $8.04 per share on its first day of trading, according to Yahoo Finance. Shares hit an intraday high at around $14.
The stock saw more than 29 million shares traded during its first day of activity on the Nasdaq. Circle and Bullish, recent crypto IPOs to launch publicly at higher prices per share, had 46 million and 58 million shares traded, respectively, in their debuts.
“At its core, we have a great mining business. Right no,w we are mining bitcoin at roughly $0.50 on the dollar to the actual price of bitcoin,” Eric Trump told Bloomberg on Wednesday. “We’ve got hundreds of millions of dollars of hard assets, data centers behind us … while everybody has to accumulate at par, for us, we are able to mine at a substantial discount to par.”
With their decision to lean into crypto several months ago, Trump’s sons have managed to significantly expand their public profiles as entrepreneurs. American Bitcoin’s successful debut means that Eric Trump’s stake in the company is valued at over $500 million, according to Bloomberg.
Besides American Bitcoin, the Trump brothers are also both linked to the DeFi project inspired by their father, World Liberty Financial. Additionally, Donald Trump Jr. has both invested in the crypto-based prediction markets platform Polymarket and joined its board. He is also a shareholder in Thumzup, a social media firm turned crypto treasury.
American Bitcoin’s formation
American Bitcoin, which launched in March, is a crypto mining and holding company co-founded by Eric Trump and backed by Donald Trump Jr. Last month, Gryphon Digital Mining shareholders voted to merge with American Bitcoin to form a new crypto mining venture.
In June, American Bitcoin raised $220 million by selling around 11 million new shares in a private placement.
Hut 8 maintains an 80% stake in American Bitcoin, with the remaining 20% controlled by American Data Centers, an entity backed by the Trump sons. Eric Trump serves as American Bitcoin’s chief strategy officer.
“By combining Bitcoin mining, opportunistic market purchases, and the backing of Hut 8’s energy and digital infrastructure, we have created a vehicle designed to drive rapid, efficient Bitcoin-per-share growth,” Hut 8 CEO Asher Genoot said in a statement.
Genoot also serves as executive chairman at American Bitcoin.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
