PANews reported on August 28th that Reuters reported that American Bitcoin, a Bitcoin mining company backed by US President Donald Trump Jr. and Eric Trump, plans to go public on the Nasdaq in early September through an all-stock merger with Gryphon Digital Mining. Asher Genoot, CEO of Hut 8, the company's largest investor, stated that the merger is nearing completion and that the company will retain the name "American Bitcoin" and trade under the ticker symbol ABTC. Genoot revealed that founders Eric Trump and Donald Trump Jr., along with Hut 8, will collectively hold a 98% stake in the new company.

American Bitcoin is exploring opportunities to acquire crypto assets in Hong Kong and Japan to expand its global reach. Genoot said it is still in the early stages and has not yet committed to specific projects.

Hut 8 was originally a cryptocurrency mining company, but since co-founding American Bitcoin with the Trump brothers, it has gradually shifted to the energy infrastructure and data center fields.