TLDR
- American Bitcoin Corp (ABTC) shares surged 16.5% to $8.04 in its Nasdaq debut, briefly hitting $14.52
- Donald Trump Jr. and Eric Trump own about 20% of the company, valuing their stake at $1.5 billion at close
- The company expanded Bitcoin mining operations 2.4x from 10 EH/s to 24 EH/s hashrate capacity
- American Bitcoin announced plans to raise $2.1 billion to purchase more Bitcoin and mining equipment
- The Trump family’s crypto ventures now include multiple projects worth hundreds of millions in total value
American Bitcoin Corp made waves on Wednesday as shares jumped 16.5% to $8.04 in the company’s first day of trading on the Nasdaq. The stock reached as high as $14.52 during the session before pulling back.
The bitcoin mining company is approximately 20% owned by Eric Trump and Donald Trump Jr., according to American Bitcoin Executive Chairman Asher Genoot. At the closing price, this stake is worth $1.5 billion based on 908.6 million outstanding shares.
When the stock hit its daily peak, the Trump brothers’ holdings were valued at $2.6 billion. The company operates as a bitcoin miner under the ticker symbol ABTC.
JUST IN: Trump family backed American #Bitcoin $ABTC goes public today on the Nasdaq with 2,443 BTC in its treasury
🔸Bitcoin 100 Ranking: 25🪜🔸 pic.twitter.com/8EjkqQ1VpQ
— BitcoinTreasuries.NET (@BTCtreasuries) September 3, 2025
Eric Trump serves as co-founder and chief strategy officer at American Bitcoin. He described his role as similar to a spokesperson for the company.
“Crypto is exploding,” Eric Trump said Wednesday. “I would be saying right now, the crypto space is at least 50% of what I’m doing.”
The younger Trump has traveled to Dubai, Hong Kong and Tokyo this year to promote crypto industry interests. He believes the sector needed better representation in public discussions.
Mining Capacity Expansion
American Bitcoin has dramatically increased its mining operations in recent months. The company expanded its Bitcoin mining hashrate from approximately 10 EH/s to 24 EH/s.
This represents a 2.4x increase in mining capacity. The expansion involved acquiring and energizing around 14 EH/s of additional installed hashrate.
The new operations use roughly 16,300 ASIC servers across the expanded network. The mining fleet maintains an average efficiency of approximately 16.4 J/TH as of September 1, 2025.
In Q2 2025, American Bitcoin’s cost of revenue per Bitcoin mined was about 50% of revenue per Bitcoin mined. This demonstrates strong operational efficiency in the mining process.
The new miners operate at the 205-megawatt Vega data center. Hut 8 Corp operates this facility and owns about 80% of American Bitcoin.
The data center features direct-to-chip liquid-cooled ASIC servers. These systems support up to 180 kW per rack, enabling high-density mining operations.
Fundraising and Future Plans
American Bitcoin filed paperwork Wednesday announcing plans to sell $2.1 billion worth of shares. The company intends to use proceeds from this offering to purchase bitcoins or bitcoin mining machines.
The fundraising comes as the company scales its operations rapidly. The expansion reflects growing confidence in bitcoin mining profitability.
Hut 8 Corp, an energy infrastructure company, maintains its majority ownership position. The partnership provides American Bitcoin with established mining infrastructure and operational expertise.
The Trump family’s crypto portfolio extends beyond American Bitcoin. World Liberty Financial, another family venture, has generated around $500 million since launching last year according to Reuters calculations.
World Liberty Financial introduced digital tokens called $WLFI on Monday. This marks another expansion of the family’s cryptocurrency business interests.
The broader Trump family crypto empire includes meme coins launched before President Trump’s January inauguration. These ventures represent a shift from the family’s traditional real estate and golf course businesses.
Critics have raised conflict of interest concerns about the Trump family’s crypto investments. They argue the family profits from crypto while President Trump eases industry regulations.
Eric Trump dismissed these criticisms as “insane” on Wednesday. He emphasized that President Trump has no involvement in the family’s business ventures.
“My father has absolutely nothing to do with this venture,” Eric Trump stated. “He’s running a nation. He’s not involved in our businesses in any way, shape or form.”
President Trump has positioned himself as the “crypto president” during his current term. He supports cryptocurrency because he believes it can improve banking systems and strengthen the U.S. dollar’s global dominance.
Trump Media & Technology Group and Crypto.com announced a deal last month with a blank-check acquisition company. This venture will pursue a treasury strategy focused on purchasing the digital token CRO.
American Bitcoin’s Wednesday filing shows the company continues expanding its bitcoin mining and accumulation strategy. The combination of increased mining capacity and planned bitcoin purchases positions the company for continued growth in the cryptocurrency sector.
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