American bitcoin, Bitcoin Miner 20% owned by two of President Donald Trump’s sons, plans to list the Nasdaq in September, said Asher Genoot, CEO of Hut 8, who holds the other 80%.
The company finalizes a merger with Gryphon Digital Mining which will open the way to its public beginnings, Reuters reported. Once finished, existing shareholders should keep the property of around 98% of the combined company.
American Bitcoin was launched in March with a strategy to build Bitcoin reserves both by operating the assets and buying it squarely for its balance sheet. Donald Trump Jr. and Eric Trump’s involvement links the business to one of the most eminent political families in the United States.
The announcement comes a few days after another company linked to Trump, Trump Media and Technology Group (DJT) said that he planned to form a joint venture with Crypto.com which will go public by combining with an acquisition vehicle for special purposes (SPAC).
American Bitcoin recently raised $ 220 million from accredited investors as well as $ 10 million Bitcoin contributed instead of money. Capital was intended to extend its infrastructure and strengthen its treasure while it goes to life as a listed company.
Genoot, speaking at the Bitcoin Asia conference in Hong Kong, said the minor can also take holdings in companies outside the United States to widen access to Bitcoin linked titles. Some investors are unable to buy actions listed at NASDAQ directly, and Genoot has suggested that foreign partnerships could provide a way to exposure through regulated entities.
For American Bitcoin, the planned list represents a bet that public procurement is hungry for direct exposure to crypto minors, even if competition intensifies and that energy costs fluctuate. A beginning of September would place the company among a small cohort of minors pursuing lists as a means of drawing institutional investors.
This decision also offers Hut 8, based in Toronto, another lever in its thrust to establish itself as a leading North American mining company, while giving Trump brothers to gain a foothold in a company linked directly to the growth of Bitcoin.
Hut 8 shares recently negotiated 0.6% at $ 26.5.
