American Bitcoin stock (ABTC) made a dramatic entrance on the Nasdaq, soaring 60% on its first day of trading. The Trump-linked bitcoin mining and treasury firm quickly started working on its expansion, targeting a $2.1 billion stock sale to supercharge its strategy.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
The debut marks the latest in American Bitcoin’s fast-moving story, one tied to Donald Trump Jr. and Eric Trump. Shares closed at $11 on Wednesday, well above the $6.90 merger price.
American Bitcoin Opens Trading With a Surge
The company began trading on the Nasdaq Wednesday morning after completing its merger with Gryphon Digital Mining (GRYP). Within hours, the stock rocketed higher, capturing Wall Street’s attention.
The strong debut gave American Bitcoin instant credibility in the public markets and new momentum to pursue its dual strategy of mining bitcoin and holding it on its balance sheet. The company’s early surge has already made it one of the more dramatic listings in recent months.
Let’s Be Honest, The Trump Connection Fuels Visibility
American Bitcoin’s backers include Donald Trump Jr. and Eric Trump, who have made no secret of their ambitions to build a major U.S.-based mining player. Their involvement has drawn a lot of retail interest in the new ticker.
The Trump name also adds a political edge to the company’s story, especially, as the family openly supports expanding America’s role in Bitcoin adoption. For investors, this connection could mean more visibility and potentially stronger backing from pro-crypto circles in Washington.
American Bitcoin Targets $2.1 Billion Raise
The company got straight to work on its next phase of growth. It has filed plans for an at-the-market equity raise of up to $2.1 billion. The funds will be used to scale operations and add to its bitcoin treasury, which already holds 2,443 coins valued at roughly $160 million.
By combining bitcoin mining with a corporate treasury model, American Bitcoin is following a hybrid path that mirrors strategies at Marathon Digital (MARA) and other large mining firms. If successful, it could give the company both steady mining revenue and the upside of bitcoin appreciation.
Here’s How American Bitcoin Has Strengthened Its Story
American Bitcoin’s business model is designed to create a cycle of growth. Mining generates new supply, while treasury holdings turn the company into a long-term accumulator of bitcoin. The approach reflects a belief that bitcoin’s value will climb steadily, making every mined or purchased coin more valuable over time.
Hut 8 (HUT), a Canadian mining firm, now holds an 80% ownership stake in the newly formed company, adding experience and infrastructure to the mix. Together, the combined entity is aiming to carve out a leading role in the global mining sector.
Investors interested in crypto should stay informed by tracking the prices of their favorite cryptocurrencies and using technical analysis tools on the TipRanks Cryptocurrency Center. Click on the image below to find out more.
