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American Bitcoin, the crypto mining firm partly owned by Eric Trump and Donald Trump Jr, soared 16% on its Nasdaq debut, adding about $1.5 billion to the Trump family’s wealth.
Trading under the ticker ABTC, the stock hit an intraday high near $14 before settling at $8.04 per share, according to Yahoo Finance. After-hours buying pushed it up another 5% as investors poured in.
ABTC price chart (Source: Yahoo Finance)
Volatility was high, triggering Nasdaq’s circuit breakers five times.
Following a merger with Hut 8’s mining arm that led to the listing, American Bitcoin is now valued at about $7.3 billion. The Trump brothers’ 20% stake translates to about $1.46 billion in paper wealth, further boosting the Trump family’s rapidly expanding crypto empire.
Bitcoin “Floodgates” Are Opening, Eric Trump Says
In an interview with Bloomberg, American Bitcoin’s co-founder and strategy chief, Eric Trump, said that the Bitcoin “floodgates are just starting to open,” adding that now is “kind of the perfect time” for the crypto mining firm to go public.
When asked what differentiates American Bitcoin from its competitors, Eric Trump said that they’re currently mining Bitcoin at roughly fifty cents on the dollar to the actual price of BTC, adding that they’re mining “a lot of it” as well.
“We’ve got hundreds of millions of dollars of hard assets, data centers behind us,” he added. This, he said, allows the company to sort of dollar-cost average the BTC that American Bitcoin adds to its balance sheet, giving the company “an unbelievable advantage,’ according to Eric Trump.
That’s after American Bitcoin merged with Hut 8’s mining arm in March this year. With this merger, Hut 8 is the majority shareholder with an 80% stake. Eric Trump and his brother Donald Trump Jr hold the remaining 20%.
As part of the deal, Hut 8 transferred nearly all of its ASIC mining rigs into the new entity. To fast-track the new entity’s public listing, they also merged with the Nasdaq-listed Gryphon Digital Mining.
Trump Family’s Crypto Empire Explodes
The Trump family is involved in several crypto ventures, including the decentralized finance platform World Liberty Financial (WLFI).
Earlier this week, the platform unlocked 20% of its token’s supply, making it tradable on major exchanges such as Binance, KuCoin, OKX and others. Through this token debut, the Trump family saw their fortune grow by $5 billion on paper.
The Trumps have also launched two meme coins called Official Trump (TRUMP) and Melania (MELANIA).
Trump Media and Technology Group (TMTG) has also made a series of crypto moves. These include acquiring large amounts of Bitcoin and BTC options.
TMTG recently entered into a partnership deal with Crypto.com as well, which will see the exchange’s CRO token become a payment method on Trump’s social platform, Truth Social.
We’re excited to share that https://t.co/vCNztATkNg and Trump Media have partnered to make $CRO a utility token of the Truth Social platform. In-line with the partnership, Trump Media will purchase approximately $105 million in $CRO for its balance sheet (685,427,004 CRO).… pic.twitter.com/dimycI44yZ
— Crypto.com (@cryptocom) August 26, 2025
Through that partnership, the companies will also launch a $6.4 billion digital asset treasury initiative.
The Trump family has expressed plans to launch “Made in America” ETFs (exchange-traded funds) as well.
More recently, Eric Trump acquired a stake in Polymarket through his venture capital firm. He is also on the board of advisors for Metaplanet, which is currently the largest Asia-based Bitcoin Treasury firm with 20,000 BTC on its balance sheet, data from Bitcoin Treasuries shows.
Top 20 Bitcoin treasury companies globally (Source: Bitcoin Treasuries)
Through their various crypto ventures, the Trumps have amassed a fortune.
From the TRUMP meme coin, which two Trump-owned companies controlled 80% of the supply, the family generated an estimated profit of around $350 million through the token when it debuted in the market.
An analysis by the New Yorker suggests that the family profited $385 million from the meme coin, but these figures are disputed.
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