Finance

Trump-Backed Bitcoin Miner ABTC Soars, Halts Trading: What’s Behind the Frenzy?

American Bitcoin, co-founded by Trump sons, saw volatile trading debut on Nasdaq after merger.

September 3, 2025, 5:53 PM

A smartphone screen displaying a portrait of President Donald Trump is held in the foreground, with a large, out-of-focus golden Bitcoin coin in the background.

A photograph featuring a portrait of President Donald Trump on a smartphone screen, juxtaposed with the symbolic presence of a Bitcoin coin in the background, representing the intersection of politics and cryptocurrency. By Shutterstock.com / miss.cabul.

Executive Summary

Shares of American Bitcoin (ABTC), co-founded by Eric Trump and Donald Trump, Jr., experienced extreme volatility and five trading halts on Nasdaq, surging nearly 85% during its relisting debut.

American Bitcoin’s public debut followed an all-stock merger with Gryphon Digital Mining, providing the Trump family company with a faster pathway to U.S. markets and institutional investment.

The volatile debut highlights a broader trend of cryptocurrency firms leveraging mergers to go public and attract American investors, signaling a maturing industry.

The Story So Far

American Bitcoin (ABTC), co-founded by Eric Trump and Donald Trump, Jr., achieved its public debut through an all-stock merger with Gryphon Digital Mining, which provided a faster pathway to U.S. markets and institutional investment, reflecting a broader industry trend where maturing crypto firms are increasingly leveraging mergers to go public and attract American investors amidst a growing appetite for digital asset companies.

Why This Matters

The volatile trading debut of American Bitcoin, co-founded by Eric Trump and Donald Trump, Jr., underscores the intense, yet speculative, investor appetite for cryptocurrency mining companies. This event highlights a broader industry trend where crypto firms are increasingly leveraging mergers to go public, signaling a strategic shift towards mainstream financial markets and a push for broader institutional engagement.

Who Thinks What?

Investors on Wall Street demonstrated a significant appetite for digital asset firms and mining companies, leading to extreme volatility and a nearly 85% price surge for American Bitcoin (ABTC) shares during its relisting debut.

American Bitcoin, co-founded by Eric Trump and Donald Trump, Jr., leveraged an all-stock merger to achieve a faster pathway to access U.S. markets and attract institutional investment.

The broader cryptocurrency industry is maturing, with many crypto firms increasingly pursuing mergers to go public and attract American investors, signaling a desire for broader institutional engagement.

Shares of American Bitcoin (ABTC), a Bitcoin mining company co-founded by Eric Trump and Donald Trump, Jr., experienced extreme volatility and five trading halts on the Nasdaq stock exchange Wednesday during its relisting debut. The company’s stock price surged by nearly 85% intraday, reflecting Wall Street’s growing appetite for digital asset firms and mining companies.

Trading Halted Amid Price Surge

The Nasdaq initiated the trading halts for ABTC shares five times throughout Wednesday as price volatility spiked. During intraday trading, the stock climbed to a high of $14 per share, marking an almost 85% increase before settling.

The first halt occurred at 3:09:35 UTC, followed by additional halts at 3:20:11 UTC, 3:30:54 UTC, 3:40:12 UTC, and the most recent at 3:47:58 UTC. Trading has since resumed, with ABTC shares currently exchanging hands at approximately $9.80.

Merger Paves Way for Public Debut

American Bitcoin’s relisting debut follows an all-stock merger with Gryphon Digital Mining, another crypto mining company. This deal, initially disclosed in late August, provided the Trump family company with a faster pathway to access U.S. markets and institutional investment.

The trading frenzy surrounding ABTC’s debut highlights a broader trend within the cryptocurrency industry. As the sector matures, many crypto firms are increasingly pursuing mergers to go public, particularly through special purpose acquisition companies (SPACs), to attract American investors.

The volatile trading debut of American Bitcoin underscores both the significant investor interest in cryptocurrency mining companies and the increasing trend of crypto firms leveraging mergers to enter public markets. This activity signals a maturing industry actively seeking broader institutional engagement.