A Bitcoin mining company closely associated with former President Donald Trump through two of his sons experienced a significant surge during its stock market debut on Wednesday. American Bitcoin, co-founded by Eric Trump and backed by Donald Trump Jr., saw its shares rise by as much as 110% in early trading before stabilizing, ultimately closing the day up 14% following its all-stock merger with Gryphon Digital Mining. This activity propelled the company’s market value to approximately $7.7 billion.
At its peak price of $14.52, the brothers’ combined stake momentarily soared to an impressive $2.6 billion. However, the stock closed at $8.04, lowering their holding’s worth to around $1.5 billion, based on 908.6 million shares outstanding, as reported in the company’s latest filing.
Eric Trump characterized American Bitcoin’s mission at the Bitcoin 2025 Asia conference in Hong Kong, claiming it aims to be “the greatest Bitcoin company on Earth.” He expressed strong optimism, predicting that Bitcoin could reach a staggering $1 million in value. “Everybody wants Bitcoin. Everybody is buying Bitcoin,” he noted, asserting the cryptocurrency’s soaring demand.
The company boasts a fleet of approximately 6,000 mining computers, primarily sourced from China, although the equipment now faces import tariffs as a result of his father’s trade policies. American Bitcoin has initiated a $2.1 billion controlled stock offering with partnerships from investment banks such as Cantor Fitzgerald and Mizuho Securities, intending to utilize the proceeds to acquire additional Bitcoin and enhance mining technologies.
Previously known as American Data Centers, the firm underwent rebranding in March via a joint venture with miner Hut 8. Its operational strategy resembles that of MicroStrategy, recently renamed Strategy, known for its corporate Bitcoin accumulation model. MicroStrategy’s market value has surged to around $110 billion partially due to its $71 billion in Bitcoin assets.
The Trump family’s investment endeavors have expanded into the cryptocurrency sector significantly in recent months. Earlier this year, the Trump Media & Technology Group raised $2.5 billion for Bitcoin acquisitions. Their ventures encompass a range of digital assets, including a non-fungible token (NFT) trading card series and two memecoins, along with the Truth Social Bitcoin ETF.
Additionally, World Liberty Financial, another entity linked to the Trump family, unveiled plans in August to invest $1.5 billion in purchasing its own token through a public company, marking another chapter in the family’s increasing footprint within the digital asset market. The trading debut of WLFI further solidifies their standing, with the former president previously disclosing ownership of approximately 15.75 billion tokens, valued at around $3.3 billion.
American Bitcoin’s notable market entry has not escaped scrutiny, attracting criticism from Democratic lawmakers and ethics experts. Nevertheless, the stock’s first-day performance indicates strong investor interest and positions it as one of the most closely observed debuts of the year in an increasingly competitive and controversial cryptocurrency landscape.
