• Existing stockholders of American Bitcoin, including Eric Trump and Donald Trump Jr., will own about 98% of the combined company.
• It is the latest high-profile move from President Donald Trump's growing family crypto empire.
• Eric Trump, co-founder and chief strategy officer, has emphasized U.S. dominance in global bitcoin mining, saying, "We won the space race. We better win the crypto race."

The mining company backed by President Donald Trump's sons, Eric Trump and Donald Trump Jr., is set to go public on the Nasdaq through an all-stock merger with .

Shares of Gryphon were up more than 300% Monday.

The combined company, , will trade under the ticker symbol "ABTC," with the transaction expected to close as early as the third quarter of 2025.

Existing stockholders of American Bitcoin, including the president's two eldest sons, will own about 98% of the new entity.

It is the latest high-profile move from the Trump family's growing , which already includes the controversial that is offering a private dinner with the president to top holders of the coin.

Eric Trump, who is a co-founder and chief strategy officer of the mining firm, framed the move as part of a broader strategy to cement the country's leadership in the global bitcoin mining race.

"Every single sophisticated country is using their excess power to mine bitcoin," Trump .

He distanced himself from any direct involvement with his father's administration but made clear his belief that the U.S. must maintain a competitive edge in the crypto sector.

"We won the space race. We better win the crypto race," he said.

On the campaign trail, the president repeatedly promised to support U.S.-based bitcoin miners, including telling executives at a closed-door event in Mar-a-Lago that he wants allshould be minted on American soil

The administration's latest executive orders loosen and encourage more — a boon for oilfield miners, even as critics warn it could come at a steep climate cost.

The crypto market showed little reaction. Bitcoin is trading at around $104,000, roughly flat over the past 24 hours.

American Bitcoin is being carved out of energy infrastructure platform 's broader energy and infrastructure platform, a move designed to separate its mining operations and unlock new capital.

Shares of Hut 8 were up 10% Monday.

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