American Bitcoin, a bitcoin miner partially controlled by Donald Trump’s sons, is set to make its Nasdaq entry in September, as stated by Hut 8’s CEO, Asher Genoot. The company is majority-owned by Hut 8 and has recently secured a merger deal with Gryphon Digital Mining to facilitate its public offering, with current stakeholders maintaining approximately 98% ownership post-merger.

The firm, which commenced operations in March, aims to bolster its bitcoin reserves through both mining and acquisitions. The involvement of the Trump brothers links the company to a high-profile political legacy.

This announcement closely follows a declaration from a separate Trump-affiliated venture, Trump Media and Technology Group, about its plans to create a joint venture with Crypto.com for a public listing via a SPAC.

Recently, American Bitcoin raised $220 million from private investors while also accumulating $10 million in bitcoin to enhance its infrastructure ahead of becoming a public entity. Genoot mentioned the potential of expanding investments to international businesses that provide access to bitcoin-linked securities, accommodating investors who might face restrictions on Nasdaq stocks.

Aiming for this Nasdaq listing highlights a growing institutional interest in bitcoin miners, amidst rising competition and energy expenses.