From Yahoo Finance: 2025-05-12 08:50:00

American Bitcoin, a new bitcoin miner backed by Trump’s sons, will list on Nasdaq through a merger with Gryphon Digital Mining. Trump family members and Hut 8 will retain 98% ownership. President Trump aims to lead in crypto, drawing criticism. Gryphon and Hut 8 shares surge, deal expected to close in Q3 2025.

Eric Trump to remain as chief strategy officer of American Bitcoin, focusing on creating an investable Bitcoin accumulation platform. Corporations are increasingly entering the crypto space to accumulate bitcoin on their balance sheets, allowing investors exposure without directly owning it. This approach has gained popularity among retail traders seeking familiar investment options. Upexi’s shares have surged since announcing plans to hold Solana as a treasury asset.

Read more: Eric Trump-backed American Bitcoin to go public through all-stock merger