*

American Bitcoin expected to trade on Nasdaq in September

*

Gets investment from crypto, traditional investors, Hut 8 ( HUT )

says

*

Co-founder Eric Trump focusing on American Bitcoin's

strategy

(Adds details of American Bitcoin business, investors, and

Nakamoto Holdings comments)

By Summer Zhen

HONG KONG, Aug 28 (Reuters) - American Bitcoin, the

bitcoin miner backed by two of U.S. President Donald Trump's

sons, has locked in crypto and traditional investors to back an

all-stock merger that will allow the firm to soon start trading

on the Nasdaq, the company's largest investor said.

The unlisted firm's merger with Gryphon Digital Mining ( GRYP )

is set to be finalised shortly, and the goal is to

start trading in early September, according to Asher Genoot, the

CEO of Hut 8 ( HUT ), which holds 80% of American Bitcoin.

Anchor shareholders in the listing have been finalised, he

said, adding crypto exchange Gemini's co-founders Tyler and

Cameron Winklevoss had invested in the new firm.

Gemini did not immediately respond to Reuters' requests for

comment.

American Bitcoin's co-founder, Eric Trump, his brother

Donald Trump Jr and Hut 8 ( HUT ), will own a combined 98% of

the newly formed entity, which will retain the name American

Bitcoin and trade under the stock code ABTC.

"Instead of going public directly via IPO, we thought that

there was a lot more advantages to financing if we had an

existing company that already had access to different financing

too," Genoot told Reuters at the Bitcoin Asia conference in Hong

Kong.

Eric Trump is also in Hong Kong and will travel to Tokyo at

the weekend for an event for Metaplanet ( MTPLF ), a Japanese bitcoin

treasury firm, Genoot said.

American Bitcoin is hunting for crypto assets to buy in Hong

Kong and Japan to build out its global business, the Financial

Times reported two weeks ago.

Genoot said American Bitcoin could take stakes in companies

outside the U.S. to give people access to publicly listed

bitcoin assets, as some investors were prevented from buying

Nasdaq-listed stocks.

"Right now it's very early. So we haven't been committed to

anything," he said.

Launched in March 2025 by Hut 8 ( HUT ), together with Eric Trump

and Donald Trump Jr, American Bitcoin has vowed to become "the

world's largest, most efficient pure-play bitcoin miner."

The creation of the firm comes as the U.S. accelerates

crypto-related legislation to support the growth of the industry

under President Donald Trump.

Genoot said the new firm would accumulate the cryptocurrency

through both mining and buying.

"Instead of just a treasury strategy where companies raise

money to buy bitcoin or just a mining company... we ebb and flow

between which one is the best return at different times," he

said.

Miami-based Hut 8 ( HUT ) was also a crypto miner but has shifted

its focus to energy infrastructure and data centers after

launching American Bitcoin with the Trump sons.

Hut 8 ( HUT ) will lease data centers to American Bitcoin, Genoot

said.

President Trump's critics have accused him of conflicts of

interest in promoting the crypto industry at a time when his

family is involved in the sector, allegations which the White

House has brushed aside.

Genoot said American Bitcoin's business had nothing to do

with government, and Eric Trump was mainly involved in strategy,

such as in relation to bitcoin mining, new site development and

treasury strategy.

Separately, at the same conference, Nakamoto Holdings, a

bitcoin treasury company led by crypto advocate David Bailey,

said it was looking across Asia's crypto startup scene and

planned to support early-stage companies to grow the crypto

ecosystem.

"We're also going to be looking at other opportunities where

we can incubate and do M&As," said Kevin Zhang, head of Asia at

Nakamoto.