A Bitcoin mining company linked to President Donald Trump through his sons experienced a significant surge in its stock market debut, resulting in a notable increase in their paper wealth. 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 eventually closing up 14% following a merger with Nasdaq-listed Gryphon Digital Mining. This surge in stock price gave the company a market value of approximately $7.7 billion.
At its peak price of $14.52, the combined stake held by the Trump brothers briefly reached $2.6 billion. However, by the end of trading at $8.04, their holding was valued at around $1.5 billion based on the number of shares outstanding.
During the recent Bitcoin 2025 Asia conference in Hong Kong, Eric Trump emphasized American Bitcoin’s goal of becoming the premier Bitcoin company globally. He expressed confidence in the future of Bitcoin, predicting that it would eventually reach $1 million per coin. Despite challenges such as import tariffs on equipment sourced from China due to his father’s trade policies, the company operates around 6,000 mining computers to mine and hold the cryptocurrency.
In a strategic move to expand its Bitcoin holdings and upgrade mining technology, American Bitcoin engaged in a $2.1 billion controlled stock offering with investment banks like Cantor Fitzgerald and Mizuho Securities. The company, formerly known as American Data Centers, rebranded through a joint venture with miner Hut 8 in March, following a model similar to MicroStrategy’s corporate bitcoin accumulation approach.
The Trump family has been actively venturing into the cryptocurrency space, with Trump Media & Technology Group raising $2.5 billion in May to acquire Bitcoin. Additionally, they have explored NFT trading cards, memecoins, and the Truth Social Bitcoin ETF. Another Trump-affiliated entity, World Liberty Financial, recently began trading after announcing plans to invest $1.5 billion to acquire its own token through a publicly listed company. This move further expands the family’s presence in the crypto industry.
Despite facing criticism from Democratic lawmakers and ethics experts, the Trump family’s crypto ventures have attracted significant investor interest. American Bitcoin’s successful market debut has positioned it as one of the most closely watched new listings of the year, showcasing the growing influence of the Trump family in the digital asset sector.